On September 15, 2022, SM Entertainment announced they are considering an early termination of the contract with “Like Planning”, a private company owned by Lee Soo Man (the founder of SM Entertainment).
In the 1st half of 2022, this company had earned 11.4 billion won, which was suspicious for taking an excessive profit from the company.
SM Entertainment will take measures against the problem. Further information to come soon.
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Source:1