SM Entertainment's Statement Regarding NCT's Contract Status Raises Eyebrows

SM Entertainment quickly addressed growing fears surrounding NCT members’ contract status.

On July 17, SM Entertainment revealed in a statement that NCT members’ contracts would not be ending this year.

When we signed NCT, the contract’s terms were longer than usual because it had stipulations taking into account the members’ military service as well as overseas promotions. Although the exact date is different for each member, there are no members whose contract ends this year. All of the members’ contracts end in the year after next.

— SM Entertainment

According to the Korean Herald, fans had become concerned in light of YG Entertainment’s drawn-out negotiation with BLACKPINK members. NCT debuted in the same year as BLACKPINK, 2016.

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Netizens reacted to the news, with many expressing surprise over how long NCT’s contract was. After a previous landmark ruling in which Korea outlawed “Slave contracts,” it has become commonplace for idols to sign 7-year-long contracts. Many fans were concerned that NCT’s contract seemed much longer than that.

“They must have signed for 10 years.”
“EXO’s first contract was also for 10 years, so NCT’s contract is probably similar.”
“It seems SM is proud of tricking the group into signing a longer contract, no?”
“SM Entertainment adds three years to the contract if the group releases albums overseas?”
“Seems the contracts are 7+3 years long. How are idols at other labels?”
“For 10 years?”
“It seems there has been another incident.”
“The courts have already ruled that 10-year-long contracts were legal, so there isn’t anything wrong with it.”
“????”
“I think NCT will re-sign…”

What are your thoughts?

Source: theqoo