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The Korea Leisure Producers Affiliation Criticize SM Leisure's Present Administration And Specific Assist For Lee Soo Man - K-pop News
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Friday, December 8, 2023

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The Korea Leisure Producers Affiliation Criticize SM Leisure’s Present Administration And Specific Assist For Lee Soo Man

They accuse Lee Sung Soo of hypocrisy, betrayal, and extra.

Because the feud between SM Leisure and founder Lee Soo Man ensues, the Korean Leisure Producers Affiliation (KEPA) has stepped as much as give their two cents. KEPA expressed their agency assist for Lee Soo Man, reprimanding the present administration of SM Leisure.

To the present administration of SM Leisure who’re destroying the Hallyu legacy, cease these ugly exposés instantly.

That is the second time KEPA, chaired by Lim Baek Woon with 440 businesses beneath its membership, is expressing its place on the matter by gathering the opinions of its producers as we watch over the ugly exposé battle created by the irresponsible present SM Leisure administration.

Identical to in our first assertion, we expect that SM Leisure and its founder Lee Soo Man, is an iconic firm that pioneered and created the legacy of Hallyu K-Pop. Lee Soo Man based the corporate in early 1990 and pioneered the idol group and administration system in 1996, seeing the successes of H.O.T, adopted by BoA, TVXQ, Ladies’ Era, and Shinhwa, creating the legend of Hallyu K-Pop. He’s the legendary pioneer that correctly put Korea on the map as a cultural powerhouse after we have been on the periphery of tradition.

Our music producers know very nicely that the present success and title of SM Leisure was not solely made doable by cash and energy. Due to that, we can not merely stand by with heavy hearts, watching on as the present administration who’ve taken over the administration rights interact in a mud battle and destroy the Hallyu legacy in only a day.


L: Lee Sung Soo, R: Tak Younger Jun. | SM Leisure

The KEPA calls out Lee Sung Soo for his hypocrisy regardless of having risen as a consequence of nepotism.

As well as, I wish to ask Lee Soo Man’s nephew-in-law Lee Sung Soo, who began all this matter, who has been capable of be promoted at a high-speed to the place of co-CEO, because of Lee Soo Man’s halo. Simply what has he contributed thus far to the present SM Leisure? If he had an oz of a conscience, or if he even had a standard mindset, would he be capable to betray [Lee Soo Man] childishly? Did he not suppose that his impudent betrayal is just not merely an bizarre battle about administration rights but additionally has a big impact on Hallyu? I can’t assist however ask that.

What angers our producers is that the decades-long Hallyu legacy of SM Leisure is collapsing in a single day, and that Lee Soo Man, who has established himself as a worldwide chief, is going through betrayal and plotting, in addition to the irresponsible exposés accompanied by sophistry that brings about dishonor, as carried out by his nephew-in-law. It makes us unhappy, and we really feel that it’s a pity, so we can not maintain again.

As well as, co-CEO Tak Younger Joon and CFO Park Joon Younger, who’ve instigated staff to show their backs on producer Lee Soo Man beneath the guise of saving the corporate with Lee Sung Soo, ought to all kneel down and apologize to Lee Soo Man, who trusted and raised them. These three drove out the founder and made it out to the staff that it was like a father had deserted his youngsters and bought out the corporate. Their shameless claims are going to trigger the sky to break down with how ridiculous they’re. And now, this messy affair has reached even international waters the place false information is being reproduced.


Lee Sung Soo’s video exposé. | Chris Lee/YouTube

The KEPA continued to credit score the unfold of Okay-Wave and the expansion within the cultural energy of Korea to Lee Soo Man and his legacy.

It was doable due to the pioneering spirit and creativity of a human cultural asset comparable to Lee Soo Man that we are able to stand as a world cultural powerhouse. Within the course of the place Lee Soo Man and SM Leisure have been on the heart of pioneering the Korean Wave, there’s sure to have been some administration errors, massive or small. Nonetheless, these are depending on the perspective the place it’s seen. However, the current indiscriminate and self-centered arguments by Lee Sung Soo have crossed the road and might solely be seen as hypocritical. Like an invading military, he’s attempting to occupy the founder’s workplace and promote the subsidiaries whereas persevering with to launch exposé assaults through YouTube—these acts of deprivation and greed all run counter to Hallyu’s pioneering spirit. We hope that if Lee Sung Soo’s actions are as righteous and honorable as he claims, he’ll cease hiding behind his safety personnel and are available out in to the world. A CEO of comparable to huge company as SM Leisure ought to by no means be hiding behind a YouTube channel as an exposé battle continues.

Simply as the massive shareholder HYBE has revealed, one can merely take inside actions to dam any mistaken governance buildings. If there are suspicions in direction of the administration, it may be checked on internally and solved with the correct proceedings. Not everybody on the earth must know in regards to the inside issues of SM Leisure. As Lee Sung Soo talked about, whether it is actually not greed however for the sake of SM Leisure, then we hope that he’ll cease his shameful exposés instantly.

If he continues to consider in his ties [to Lee Soo Man] as his nephew-in-law, turning the administration rights that Lee Soo Man entrusted to him right into a weapon, disrupting the ecosystem of the monetary market and cultural leisure trade and spreading evil greed, the KEPA is not going to sit by.


The feud started when Lee Soo Man contested the legitimacy of the sale of shares by SM Entertainement to Kakao. Because the battle grew, different stakeholders comparable to HYBE have been introduced in. Learn extra in regards to the matter beneath.

Dispatch Particulars 118 Info And Statements Associated To The Dispute Between Lee Soo Man, SM Leisure, And Lee Sung Soo


SM Leisure Share Acquisition

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