Music producer Yoo Young-jin, who worked for SM Entertainment for over 20 years and created hit songs for singer BoA and groups Girls’ Generation, EXO, and Aespa, openly supported Lee Soo-man, former general producer of SM Entertainment. He said, “SM without Lee Soo-man is not a true SM,” and revealed, “I will stand by and follow teacher Lee Soo-man.”
In a statement on the 10th, Producer Yoo said, “It is difficult to agree that Soo-man Lee’s production was excluded from the SM 3.0 era vision announced by SM management on the 3rd.” And it was very shocking to publicly say goodbye to teacher Lee Soo-man.”
He said, “Lee clearly understands the flow of culture and IT, and is almost the only producer who can foresee how music will be consumed and changed on a future platform. Also, over the past few years, SM has been preparing for a changing future, and Lee’s pioneering ideas have played a big role.”
Previously, SM co-representatives Lee Seong-soo and Tak Young-joon announced their breakup with Lee, while announcing the SM 3.0 vision, which focuses on a multi-production system and a multi-production system. At the time, the two co-CEOs emphasized a ‘beautiful farewell’, saying, “I would like to thank Teacher Lee Soo-man, who still supports SM as a shareholder,” but the discord between Lee Soo-man and the management became known to the public during the capital increase of SM’s common stock to Kakao.
In the process, singer and actor Kim Min-jong, who worked under SM for 17 years, sent an e-mail to all SM employees and attacked the SM 3.0 vision. Kim Min-jong said that co-CEOs Seong-soo Lee and Young-jun Tak announced the termination of the contract without talking to Soo-man Lee or consulting with insiders. , Did you treat it as if you were escaping at night when everyone had their turn and was going to be new arrivals?”
Driven into a corner, former general manager Bang Shi-hyeok, chairman of Hive, joins hands to confront SM management. Hive announced on the same day that it had acquired 14.8% of SM shares owned by former general manager Lee. He also jumped into a fight for SM shares by announcing that he would also openly buy shares held by minority shareholders at 120,000 won per share.
The following is the full text of Yoo Young-jin’s statement.
As a musician who has been with SM for a long time, I would like to express my position regarding the current situation of SM.
It is difficult for me to agree with the part where Sooman Lee’s production was excluded from the current management’s announcement of the SM 3.0 era vision on February 3rd. We also regret that the most important role of producer in content creation is missing. The presentation was called multi-production, but the content was regarding a multi-production system.
After the vision was announced, I asked Lee if the current management had discussed anything regarding producing, and he confirmed that there was no such thing. Also, teacher Lee never said that she was retiring as a producer, even though her existing contract with the company was terminated last year.
It is very shocking to me that I unilaterally announced the SM 3.0 plan without any consultation with Mr. Lee Soo-man and publicly said goodbye to Mr. Lee Soo-man.
The multi-producing system is a part that teacher Lee Soo-man usually has to prepare in advance for SM following Soo-man Lee, and he said that the production know-how should be manualized so that the company can operate without problems.
I think that teacher Lee is almost the only producer who can clearly understand the flow of culture and IT, and predict how music will be consumed and changed in the future platform. He said before that the world of celebrities and robots would come, and he was the one who told us to hurry up preparations for a long time regarding the world of avatars, metaverses, and NFTs.
Teacher Lee’s pioneering mind played a big role in SM’s ability to lead the past and present of K-pop and for SM’s preparation of K-pop for the changing future over the past few years.
SM without Lee Soo-man’s production is not true SM. I, Yoo Young-jin, will stand by teacher Lee Soo-man and follow the teacher’s will. I also conveyed my opinion to CEO Lee Seong-soo that I cannot work together under the current situation.
thank you
February 10, 2023
Yoo Young-jin, director of SM Entertainment
Reporter Lee Eun-ho wild37@kukinews.com View articles