While SM Entertainment has yet to share its views, its stock suddenly fell 8%.
It was learned on June 4 that SM Entertainment’s stock fell more than 8% during the trading session and, according to one report, the stock fell 9.75% during the session before to sort out. Although there has been no announcement from SM Entertainment, media outlet Sports World reports that rumors are circulating in the financial industry, namely allegations regarding NCT members and prostitutes in Japan.
Indeed, a rumor that members Johnny and Haechan had affairs with Japanese hostesses has currently gone viral and despite fans’ demands for the label to intervene, SM Entertainment has yet to comment on these rumors.
Following the stock decline on the 4th, investors in SM Ent. reacted with comments such as: “What is happening all of a sudden? and “The company must act quickly.” »
Fans Blame KWANGYA 119 For Not Doing Their Job Regarding Recent NCT Allegations
Fans expect SM to take action.
Following the publication by a user with three daughters. It was when it was reported that two of the girls were fans of NCT that the allegations gained momentum.
Even though the original post has since been deleted, the messages have already gone viral everywhere and many internet users couldn’t hide their shock at the allegations. NCT fans therefore asked SM Entertainment to protect their artists from these allegations.
Fans then started sending complaints to SM’s reporting center, namely KWANGYA 119, which is a website that allows fans to submit reports to protect artists’ rights. SM Entertainment has indeed made this site available to fans by stating:
The website ‘KWANGYA 119′, a reporting center for protecting the rights and interests of SM artists, is now operational.
You can access ‘KWANGYA 119’ after logging in with your SMTOWN ID and then submit a report on the ‘ARTIST Defamation Report’, ‘Illegal Ticket/Copyright Infringement Report’ and ‘Correction Report & Suggestion’ pages..
Despite using the site to file reports, fans felt like they weren’t doing their job and many spoke out:
- What is the company doing right now? The boys are facing criticism for ‘fake news’ and what is the company doing? Why did you create KWANGYA 119? Why did you recruit people for KWANGYA 119?
- Everyone files a complaint on KWANGYA 119
- Has KWANGYA 119 disappeared? Wouldn’t it be time to work for the salary allocated to you?
- This huge company is really not doing its job. Please file a report. But why did you create KWANGYA 119? Protect artists, please. With all these baseless rumors coming out, are you going to let them go? These fools continue to make fun of our boys because you do nothing.
A lawyer working at SM previously revealed that it takes a long time to resolve a received report.
“ First, the staff takes care of everything, examines everything posted on the site and selects the items that appear to be the subject of a complaint » said Han Sang Hoon.
They then choose the cases that can be the subject of legal action and they cross-check the data, which takes quite a bit of time. However, he clarified that cases that have received media coverage or present an increased risk for the artist are processed more quickly.
An Internet user then expressed his opinion by declaring: ” The fact that they still haven’t released an official statement regarding filing a report appears to be a lie. Is KWANGYA 119 there only for form? Yes, I guess there is no agency…“
“ Come on, please take action on this. What do you want us to do if you do nothing? Did you make KWANGYA 119 do this? » said another user.
What do you think of this situation and SM Entertainment’s silence?
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