Lee Sung Soo releases a second statement addressing HYBE and Lee Soo Man + announces his intention to step down from his position as CEO of SM Entertainment
They proudly announced that they would respect SM's brand and IP and did not include creators and producers of director level with experience in the entertainment industry."SM has never asked for help from HYBE. Right now, HYBE is Lee Soo Man's savior and not SM's. Please stop the hostile M&A that is currently underway so that Korea's K-pop doesn't go down the path of monopolization.
Lee Sung Soo continued to convey to Lee Soo Man that this was the only way to save the company and himself. He stated,"
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