News Lee Sooman shares letter explaining his decision to work with Hybe (1 Viewer)

[Abeamus]

To my SM family whom I love, and the many people who love SM,

Ever since becoming a bushy-haired ballad singer in the 1970s, I have lived my entire life with the public. I received more than enough love as a singer and as an MC, and the singers I produced after becoming a producer have also received lots of love from the public. That’s why my apologetic heart about the recent happenings regarding SM is even greater.

When I was planning SM in 1989, I was young and a start-up. Because I enjoyed music, I thought about what system singers needed. I researched a western model of the music industry and established SM’s corporate structure. Korean-style pop and the world of idols were achieved from the combination of developed business models and Korean-style talent development models. The achievements of K-pop made around the world by SM, alongside JYP, YG, HYBE, and more, is a miracle and blessing to Korea.

Meanwhile, from the time of Hyun Jin Young to H.O.T., BoA, TVXQ, Super Junior, Girls’ Generation, SHINee, EXO, Red Velvet, NCT, and aespa, my youth has also gone by.

SM’s “post-Lee Soo Man” [period] was my long-term concern. Entertainment is a world of creativity. As I am not passing SM down to my children or relatives, I believe I have to give it up to the industry’s “best” who can make it more prosperous. I’ve said that if there’s a governance issue within SM, it has to be improved, and if we need a professional manager, they should be in charge no matter the cost.

To me, “best” is producing. Producing is a 24/7 world of passion and creativity where you must endure endless failures until the birth of a star. Behind a star’s performance, that runs into fans’ hearts and creates their cheers, tears, emotions, and hope, is a world of producers who discovered and raised that star. If there is no public, there is no star, and if there is no star, there is no producer, and if there is no producer, the music industry cannot succeed. This is also true in reverse.

The past two years have been a time to find the “best” that most suits SM. On the other hand, I’ve urged current management to prepare for an SM era without Lee Soo Man. This is because I have already decided to step down from the SM stage. In addition to HYBE and Kakao, funds, large corporations, overseas global companies, and more wanted SM and sought me out.

To me, “the best” was HYBE. Although they were SM’s competitors, the success of BTS is a source of price for the whole country. As a music producer like me, HYBE’s chairman Bang Si Hyuk is someone who’s experienced a time of struggle. He’s someone who’s experienced eating snacks as meals with aspiring singers, being buried in the practice room, and wandering in all directions in search of investors. Just like me, he lived for music and created the record-breaking BTS. I felt that he treated his artists with the same affection as me. This was the reason for my decision, which many people were curious about.

As I wrap up the first part of my life as SM’s champion, I am now moving on to part two. My “next” is a place where technology meets culture. I am walking with heavy footsteps towards that place.

This is to not only SM’s family, but to its current management.

I do not regret the time I spent with everyone.

To me, SM was a challenge, my happiness, and a blessing.

I also want to share this with the artists I was with.

After meeting you, who were all full of dreams, we created music while laughing and crying together in those bittersweet times. You, who poured all your energy, from your fingertips to your feet, into stage-focused performances, were actually my teachers. I respect you, I am proud, and I thank you.

Source​

 

[RandAlThor]

PPL will yadda yadda about 'slave contracts' and assorted members leaving groups.
But at the end of the day he ate slept and drank music.
His ppl love him.
SES member have said they would not work with non sm ppl.
half of tvxq did not leave so what ever teh spin the deal they had was not THAT bad.
He brought non Koreans in to groups first.
They tried and failed.
and tried and succeded.

Basically with out LSM and SM there is no Kpop today.

 

[Abeamus]

PPL will yadda yadda about 'slave contracts' and assorted members leaving groups.
But at the end of the day he ate slept and drank music.
His ppl love him.
SES member have said they would not work with non sm ppl.
half of tvxq did not leave so what ever teh spin the deal they had was not THAT bad.
He brought non Koreans in to groups first.
They tried and failed.
and tried and succeded.

Basically with out LSM and SM there is no Kpop today.

Well now Bang Sihyuk and Hybe are going to be taking Lee Sooman and SMs place in the industry by the looks of things after the updates today

 

[RandAlThor]

Well now Bang Sihyuk and Hybe are going to be taking Lee Sooman and SMs place in the industry by the looks of things after the updates today

well none of his family wanted the burden nor had the skill.
He clearly wanted to keep it in house, but talent/drive /skill like that is rare.

I hope the sm teams and style i love with not die but life moves on.

 

[the101]

The PR savviness to wait until he had the win to offer the statement.

 

[Abeamus]

well none of his family wanted the burden nor had the skill.
He clearly wanted to keep it in house, but talent/drive /skill like that is rare.

I hope the sm teams and style i love with not die but life moves on.

I can't think of anything from Hybe that has shown me they're capable of SMs style since they couldn't even keep up Gfriends style and that was more specific to hit

 

[RandAlThor]

I can't think of anything from Hybe that has shown me they're capable of SMs style since they couldn't even keep up Gfriends style and that was more specific to hit

Same maybe min hyjin but she is tied up with NJ.

LSM failure was grooming leaders/ replacements . Not an uncommon failing of great entrepreneurs.

he had ppl like the source guy, MHJ , ect but did not have a system to nurture them in house. It an issue with too much reliance on a person.
JYP looks to have found a way to fix that.

 

[Abeamus]

The PR savviness to wait until he had the win to offer the statement.

I did also see that Hybe paid a 10 billion won premium over 10 years to go towards Soomans tree planting project so maybe the first payment of that entered his bank account

 

[RandAlThor]

I did also see that Hybe paid a 10 billion won premium over 10 years to go towards Soomans tree planting project so maybe the first payment of that entered his bank account

LSM signed away a ton of residual money(some for as long as 70 years) to get HYBE on board. Really pointing out that he had no inheritor's that he felt needed or deserved that.

 

[Abeamus]

Same maybe min hyjin but she is tied up with NJ.

LSM failure was grooming leaders/ replacements . Not an uncommon failing of great entrepreneurs.

he had ppl like the source guy, MHJ , ect but did not have a system to nurture them in house. It an issue with too much reliance on a person.
JYP looks to have found a way to fix that.

That's always an issue when a company basically relies on 1 person especially if there comes a time when that person just isn't keeping up with the evolution of the industry which I feel like SM definitely fell into that trap and having to play catch up is why some of the quality took a hit I'd imagine.

 

[Abeamus]

LSM signed away a ton of residual money(some for as long as 70 years) to get HYBE on board. Really pointing out that he had no inheritor's that he felt needed or deserved that.

Without spending a substantial amount of time grooming his successor there wouldn't be anyone who could just come in and take over his job and the amount of information involved would've had to be like having that person in negotiation meetings to observe tactics, trial and error of producing songs in SMs style and more that would've been at least 10 years of work.

 

[RandAlThor]

Without spending a substantial amount of time grooming his successor there wouldn't be anyone who could just come in and take over his job and the amount of information involved would've had to be like having that person in negotiation meetings to observe tactics, trial and error of producing songs in SMs style and more that would've been at least 10 years of work.

Which is what they tried with Chris .. and we see how that went.
Kangta had some songs but must not have had all teh package.

 

[Abeamus]

Which is what they tried with Chris .. and we see how that went.
Kangta had some songs but must not have had all teh package.

People always try it with one of their own family members but sometimes talent just doesn't transfer and you go from someone who can do hard stuff like it's nothing to someone who can't even do the hard stuff

 

[Deleted member 4423]

This letter is such bs.

I don't believe a word of it. If he cared about his artists and the company he wouldn't have snapped to hybe when everyone else was going to kakao. (Not that kakao was a better choice here lbh. It was a choice between a poop and a turd lol)

Hybe are the biggest, not the best. From what I've seen from the fans of artists under the label and their subsidiaries hybe are prone to mismanagement and notorious for putting all their eggs in one basket while leaving their other artists to flounder or disbanding them for bs reasons.

Also the timing of the letter is hilarious. So soon after kakao was blocked from buying the new shares. Makes me wonder what the letter would have read if kakao had got their shares and he had lost his injunction.

Lsm is such a dwonk.

 

[eyebags]

I have no idea what is going on tbh mess

 

[RandAlThor]

I have no idea what is going on tbh mess

The deal the current management made with Kakao is soo bad LSM instantly sold most of his shares and gave up 7 decades of royalties. this after searching for most of 3 years for someone he wanted to sell to.

They issued enough new shares to give kakao 9%+ of the new total. gave them bonds (ie borrowed money)
a Clause gave Kakao global distribution rights forever (kakao has no non Korea distribution system) sm sell 15+ million albums per year its a crazy strong position this is an awful clause.
Then to top that off they gave them right of first refusal to buy new shares when they came out.
a bunch of other stuff.
All with out telling/asking the largest stock holder (among others. ) This is against the law. black letter law a first year law student would be expected to understand.

Then like spoiled kids they kept posting on the company account saying they were the forces of good, while proposing future plans they they had no possible way of implementing to any degree of success.

 

[Moguri]

Its a nice letter