MMO Entertainment has now issued a statement in response to Kim Sunghyun’s post. The statement reads:
Hello. This is MMO Entertainment.
Firstly, we are sorry to the fans who must have been very surprised when they saw Kim Sunghyun’s post.
Ever since the moment it was confirmed that Kim Sunghyun would be going on ‘Produce X 101,’ he has requested the individual settlement of his accounts separate from the members, and starting immediately after his appearance on the show ended, he has requested to our company that he withdraw from IN2IT and his contract be terminated.
These requests were like a bolt out of the blue to all the staff who had been waiting for him to join the group after the show. After this, we continued to request that he rejoin IN2IT, however Kim Sunghyun refused this and shared his intention to withdraw. As it was necessary to reveal future plans to the fans who’ve been waiting, after discussion with Kim Sunghyun’s side we released the notice today at noon.
In addition, despite the fact that his exclusive contract meets the standards of the Korea Fair Trade Commission and we diligently performed our duties of his management and account settlement in accordance with the contract, Kim Sunghyun has been making one-sided claims in order for the termination of his contract.
We will be reacting firmly in regards to actions that damage our reputation through such one-sided claims, and if required we will explain all of the facts.
We once again apologize to the fans who cherish and love IN2IT for causing concern.
source: soompi 2, naver
Yeah, that statement doesn't convince me. Also, under the KFTC standard form, it says that if artists want to end the agreement before their contract is up, they are required to pay their agencies a sum calculated from the average profits made from performances and music sales. Which for IN2IT can't be that much, especially since MMO is not organizing any gigs for them. I'm hoping he doesn't get into even more of a financial trouble because of his post...