Yoo Young-jin: "SM Without Lee Soo-man's Producing Is Not the True SM"

Opposition to the Exclusion of Lee from the Current Management Team

[Asia Economy Reporter Kim Heeyoon] SM Entertainment (hereafter SM) Director Yoo Youngjin criticized the current SM management's announcement of the 'SM 3.0' vision, which excluded former Chief Producer Lee Soo-man.

Yoo Young-jin, Director at SM Entertainment.

On the 10th, Director Yoo stated in an official statement, "SM without Producer Lee Soo-man is not the true SM," expressing his position.

Yoo Youngjin debuted as an R&B singer at SM and later became a composer and producer, releasing numerous hit songs. He was the first to establish SM's unique style called 'SMP' (SM Music Performance), which optimally combines artists' songs and choreography, leading the first-generation idols who placed SM among the pioneers of the entertainment industry.

It is considered an unusual move that Director Yoo, who has strictly refrained from media exposure during his 30 years as a producer, has directly expressed his official stance to the press for the first time.

Director Yoo pointed out, "This situation is becoming an unfortunate event forcing artists who love SM to make a choice." He also expressed regret over the absence of the most important producer role in content creation, adding, "The announcement mentioned multi-producing, but the content is about a multi-production system."

After the SM 3.0 vision announcement, he asked former Producer Lee whether the current management involved in producing had consulted with him, confirming that no such consultation had taken place. He emphasized, "Although Mr. Lee ended his existing contract with the company last year, he never said he was retiring as a producer."

Director Yoo said, "It was very shocking to me that the SM 3.0 plan was announced unilaterally without any consultation with Mr. Lee, and that a public farewell was made to him," explaining, "The 'multi-producing system' was something that former Producer Lee had always emphasized as a task to prepare in advance for SM after Lee Soo-man, by systematizing producing know-how into a manual so the company could operate smoothly."

Director Yoo also expressed a special stance regarding former Producer Lee. He said, "Mr. Lee is almost the only producer who clearly understands the flow of culture and IT and can foresee how music will be consumed and transformed on future platforms," adding, "He had long spoken about a world of celebrities and robots, urging early preparation for the worlds of avatars, metaverse, and NFTs."

He continued, "The reason SM has been able to lead the past and present of K-pop, and why SM has been preparing K-pop for the changing future in recent years, is largely due to Mr. Lee's foresight," emphasizing, "SM without Producer Lee Soo-man is not the true SM. I, Yoo Youngjin, will stand by Mr. Lee and follow his will. I have also conveyed to CEO Lee Sungsoo that I cannot continue under the current circumstances."

As Director Yoo, who formed a relationship of trust beyond a contract with former Producer Lee at the time of signing a lifetime contract and has shared the company's history, publicly expressed his position, it is expected to have a significant impact internally, including on affiliated artists.

In particular, since he pointed out the current management's lack of vision in the producing business sector, there is also an interpretation that this is a move toward the return of former Producer Lee.

Yoo Youngjin is recognized as a highly influential figure in the music industry, ranking 39th on Billboard's 2021 list of 'The 50 Greatest Producers of the 21st Century.' Billboard evaluated, "Yoo Youngjin is the cogwheel producer of SM who has propelled K-pop to stardom for over 20 years with his unique keys and dance beats."

Meanwhile, on the same day, HYBE announced that it had signed a contract to acquire 14.8% of SM shares held by former Producer Lee for 422.8 billion KRW. Earlier, on the 8th, Kakao secured a 9.05% stake through a paid-in capital increase, becoming the second-largest shareholder, but with this contract, HYBE instantly became SM's largest shareholder.

Following the SM 3.0 vision announcement excluding him on the 3rd and Kakao's stake acquisition news, former Producer Lee urgently returned to Korea from overseas on the 7th and has taken legal action.

This content was produced with the assistance of AI translation services.