SM Entertainment's co-CEO Lee Sung Soo intends on exposing Lee Soo Man, founder and former head producer of SM Entertainment as well as Lee Sung Soo's uncle, for multiple "underhanded dealings" and "selfish actions" which the current CEO believes are detrimental to the future of the entertainment agency.

On February 16, Lee Sung Soo revealed a video via his YouTube channel, claiming that he intended on unearthing "the other side" of Lee Soo Man's activities as the head producer and the largest shareholder of SM Entertainment. 

First, Lee Sung Soo alleged that even though SM Entertainment's contract with Lee Soo Man's LIKE Holdings came to an end last year, Lee Soo Man still possesses a number of other "paper companies" from which he is seizing SM Entertainment profits. Lee Sung Soo stated, "In 2019, Lee Soo Man established CT Planning Limited, a company in Hong Kong. The company was founded with approximately $1 million USD in Lee Soo Man's personal funds."

CEO Lee continued, "After 2019, SM Entertainment signed partnerships with S.M. Entertainment Beijing Co., LTD, Capitol Records, and Warner Records for the global distribution of music by WayV, SuperM, and aespa. An interesting point here is that although SM Entertainment produces all global content related to WayV, SuperM, and aespa, a third party in the form of CT Planning Limited creates a deformity in the structure of the the global distribution contracts. If these were regular distribution contracts, SM Entertainment and its partner company would directly calculate the profits of both sides, then based on the divided profit received by SM Entertainment, Lee Soo Man would be paid his 6% in producing fees through LIKE Holdings domestically. Instead, Lee Soo Man has signed separate contracts with all companies involved, and thus claims 6% of the total profits before the profits are calculated and distributed to SM Entertainment and partner companies."

Lee Sung Soo further explained, "The contract between SM Entertainment and Lee Soo Man's LIKE Holdings was problematized both in 2014 and 2021 by Korea's National Tax Service. As a result, SM Entertainment was forced to pay billions in 'unpaid' taxes." CEO Lee then accused Lee Soo Man of using his Hong Kong company, CT Planning Limited, as a means to bypass National Tax Service regulations and claim more profits for himself. In fact, Lee Sung Soo claimed that Lee Soo Man will continue to profit in the manner explained above through CT Planning Limited, as CTP's contracts with SM Entertainment and various overseas distribution companies still remain valid. 

Finally, Lee Sung Soo accused HYBE Labels of failing to check all of the facts before signing the sale of shares agreement with Lee Soo Man, citing this as one of the many reasons why HYBE will likely face backlash from current SM Entertainment employees and shareholders. 

CEO Lee Sung Soo's accusations against Lee Soo Man regarding the delay of aespa's comeback and unethical real estate expansion can be found here.