Lee Soo Man made his first appearance in front of the public following his disagreement with SM Entertainment on the direction of the company. After receiving an invitation from the prime minister of Mongolia, Luvsannamsrain Oyun-Erdene, Lee Soo Man attended the Korea-Mongolia Business Forum on February 14 at 6 PM KST with singer Kim Min Jong.
The Hyatt Seoul in Hannam-dong, Yongsan-gu, Seoul served as the venue for the event. The occasion was attended by about 100 people, including the chairman of the MCS Group, the minister of economic development, and the foreign minister of Mongolia, Bat Chechik.
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Lee Soo Man gave a keynote speech on this day on the role of K-Pop and Hallyu in the future of the global village. He shared,
“I have been creating and pioneering K-pop for the past 30 years, and I have been living with K-pop and the history of Hallyu all my life. Thankfully, K-pop and Hallyu have evolved amide the storm of globalization and technological revolution, and are now connecting the hearts of people around the world, transcending regions and borders, generations and ideologies.”
As the media persisted in questioning Lee Soo Man about the disagreements about SM Entertainment’s management rights, the former executive producer left the room and did not respond to any of their questions. Since this was Lee Soo Man’s first public appearance since the recent argument between SM Entertainment, the public, and the media have been paying closer attention to him.
Every day brings new developments in the dispute over SM’s management powers. The conflict was sparked on February 3 with the release of SM Entertainment’s ‘SM 3.0’ announcement, which also announced the retirement of previous executive producer Lee Soo Man.
Lee Soo Man Is Going To Sue SM Entertainment For Illegal Businesshttps://t.co/sPRCkWGj6K
— Koreaboo (@Koreaboo) February 7, 2023
The purchase of a 9.05% interest in SM was then revealed by Kakao on March 7. On March 10, it was made public that HYBE had acquired 14.8% of Lee Soo Man’s stock, making it the largest stakeholder. Due to HYBE’s involvement, the conflict grew in scope as a result.
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