SM Entertainment is ending its contract with Lee Soo Man's music production company.
On October 14, SME's board of directors announced they'll be terminating a production license contract with Like Planning at the end of this year, which is earlier than scheduled. Like Planning is a music production company owned and run by Lee Soo Man.
The agency is said to have outsourced production to Like Planning and paid millions of US dollars in royalties to the production company every year.
Lee Soo Man still remains SM Entertainment's largest shareholder with 18.73%.
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Not them firing THE KPOP INVENTOR 💀
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