The Photo That Broke the Fandom
The image, first posted to an anonymous online community in the pre-dawn hours, was grainy but devastatingly clear. It showed the backs of four young men, luggage in hand, walking through the automated glass doors of the SM Entertainment headquarters in Seongsu-dong. They were not arriving for a long day of practice. They were leaving, seemingly for good. Within minutes, the post exploded across every major fan platform and news aggregator. Rumors, long simmering in the darker corners of fandom, were suddenly given terrifying visual evidence. By midday, the speculation was confirmed by multiple industry insiders: Rising, SM Entertainment’s 7-member boy group launched five years ago with immense promise, had effectively collapsed. Four of its seven members—Jaeyoon, Minseok, Hyunwoo, and Kai—had formally terminated their contracts and departed the company.
The confirmation, when it came via a terse official statement from SM, sent seismic shockwaves through the K-pop world. It wasn't merely a group going on hiatus or a single member pursuing a solo career; it was the instantaneous dissolution of the group's core. For an agency famously known for its rigid, long-term "SM system" and meticulous artist management, this was not just a setback. It was an institutional failure of historic proportions. The news immediately dominated real-time search charts, pushing aside comebacks and award show announcements, as the industry collectively grappled with a simple, stunning question: How could this happen to SM Entertainment?
"This is not a simple contract expiration. This is a coordinated exodus. The fact that more than half the members chose to leave together, at this specific juncture, speaks to a profound breakdown in trust and vision," stated an anonymous senior producer from a rival agency in a call with K-Beats.
From "SM's Next Crown Jewel" to Quiet Struggles
To understand the magnitude of this collapse, one must revisit the ambition with which Rising was introduced. Debuting in 2019, they were positioned as the direct spiritual successors to EXO and the bridge between the legendary senior groups and the then-burgeoning NCT universe. They were a "fixed group," a point SM heavily emphasized to distinguish them from the rotational concept. Pre-debut, they were featured in SM's "SM Rookies" program, building a solid fanbase with high-quality performance videos. Their debut track, "Horizon," was a classic SM production—cinematic, vocally layered, and impeccably choreographed. It won multiple rookie awards, and the future seemed limitless.
However, cracks began to appear after their promising first two years. While never flopping commercially, Rising consistently fell short of the "next EXO" benchmarks set by the company and fans. Their comebacks became less frequent, their concepts seemed to shift without clear direction, and they were increasingly absent from SM's flagship concerts and family albums. Industry observers noted that SM's strategic focus and resources were being pulled in multiple, competing directions: the explosive expansion of the NCT brand, the launch and management of girl group aespa and their complex SMCU lore, and the intense internal restructuring following the corporate upheaval and power struggles that rocked the company's leadership.
"Rising found themselves in a terrible middle ground," explains K-pop culture critic Park Ji-won. "They were too successful to be considered a failure, but not successful enough to command the absolute priority and creative investment of SM's top brass. They became, in many ways, a maintenance group. This inevitably leads to frustration among ambitious artists who see their peers in other agencies or even within SM getting massive pushes." This frustration was occasionally glimpsed in cryptic Bubble messages and carefully worded fan meeting comments, often dissected by fans on our News page for clues.
The Weight of the "SM Brand" and Internal Competition
Further complicating their path was the sheer density of talent within SM itself. As a boy group focusing on performance and vocals, they were constantly compared to SHINee, EXO, and the various units of NCT. Securing standout songs from SM's in-house producers became a fierce internal battle. Notably, fans of the group had previously rallied behind accusations that one of Rising's music video concepts bore striking similarities to that of another popular boy group, a controversy we explored in depth in our article "Beyond Coincidence: MOAs Demand Answers." While SM denied plagiarism, the incident highlighted a perception among Sunrise (the group's fandom) that their artists were being underserved or derivative, rather than pioneering.
The Great Departure: Unpacking the Individual Exits
The mass exit, while shocking in its simultaneity, appears to have been the culmination of distinct, individual grievances that converged at the same contractual crossroads. According to legal and industry sources close to the situation who spoke with K-Beats on condition of anonymity, the departures were not a single negotiated block but a series of separate, decisive choices.
Jaeyoon (Leader, Main Vocalist): The group's leader and oldest member, Jaeyoon, was reportedly deeply involved in the creative process early on, contributing to lyrics and vocal arrangements. Insiders suggest his influence waned significantly over recent comebacks, with SM's A&R team taking tighter control. His departure is seen as a "creative divorce." He is rumored to be in talks with several mid-sized agencies known for giving artists greater creative autonomy.
Minseok (Main Dancer, Lead Vocalist): Arguably the group's most recognisable "star" to the general public due to his numerous variety show appearances, Minseok's career aspirations reportedly extended beyond group activities. Speculation abounds that he sought to build a sustained acting career—a path SM has historically been selective and slow to greenlight for its idol actors. His exit likely prioritises immediate solo opportunities in entertainment and acting.
Hyunwoo (Main Rapper, Producer): The group's primary rapper and a prolific behind-the-scenes producer, Hyunwoo had reportedly built an impressive portfolio of unreleased tracks and collaborations. The industry buzz suggests he grew frustrated with SM's notorious "song vault," where tracks can languish for years, and with the company's ownership stakes in member-produced music. His move is widely interpreted as a bid for full creative and financial control over his own work.
"The common thread isn't money; it's agency. Not the company, but the literal sense of the word. These members wanted a greater say in their own careers, a clearer path, and felt that time was running out. In today's market, they know their value and are willing to bet on themselves," shared a veteran entertainment attorney familiar with idol contracts.
Kai (Lead Dancer, Vocalist, Maknae): The youngest member's departure was perhaps the most emotionally charged for fans. Known for his intense dedication to performance, sources indicate Kai felt the group's prolonged periods of inactivity were detrimental to his growth as a performer. At 23, he is at a critical juncture where maintaining peak performance skills requires constant stage time. His decision signals a desire to be consistently active, potentially in a performance-focused unit or even the musical theatre scene.
The remaining members—Taeyang, Seojun, and Dohyun—are confirmed to have renewed their contracts with SM. The agency's statement hinted at "future new directions" for the three, leaving the door ambiguously open for a continuation of the Rising name with a drastically altered lineup, or for their redeployment into new units or solo projects.
A Fandom in Mourning and Fracture
The reaction from Sunrise has been a turbulent mix of grief, anger, and bitter confusion. Social media platforms are flooded with hashtags like #RisingForever and #SMFailedRising. Compilations of the group's best moments, dubbed "pain timelines," have gone viral, accruing millions of views. The dominant sentiment is one of profound loss, not just for the group's future, but for the years of investment and emotional loyalty.
"We watched them grow from teenagers to men. We defended them during every comeback, streamed every video, bought every album to try and give them the numbers we thought SM needed to see. And for what? For them to just... disappear without a proper goodbye concert, without a final album?" one fan leader posted on Weverse, capturing the widespread feeling of an incomplete ending.
However, the fandom is also deeply divided—a common yet painful phenomenon in the wake of such splits, as we analyzed in "The Dual Edge of Freedom." One faction directs its fury squarely at SM Entertainment, organising email campaigns and protest trucks (a now-common fan strategy) demanding transparency and blaming company neglect for the dissolution. Another faction is embroiled in internal strife, with some fans of the remaining members pitted against fans of the departed, arguing over loyalty and "who abandoned who." A third, smaller group expresses cautious support for the departing members' individual dreams, even as they mourn the group's end.
The situation is further inflamed by the lack of direct communication. Unlike some recent, more amicable contract departures where artists immediately addressed fans, the four ex-members are bound by legal quiet periods. This silence has created a vacuum filled with anxiety and speculation, amplifying the sense of helplessness within the fandom. You can see how fan sentiment is shaping the narrative on our dedicated Artists page, where discussions are ongoing.
Industry Shockwaves: A Crisis of the "Big 4" Model?
Beyond the immediate tragedy for Rising and Sunrise, the industry is analyzing this event as a potential watershed moment. For decades, the allure of the "Big 4" agencies (SM, YG, JYP, HYBE) was near-total: unparalleled production, guaranteed media play, and a pathway to stardom. In return, artists accepted long training periods, rigid contracts, and a degree of personal and creative suppression. This exodus challenges that calculus.
"This isn't a group from a nugu agency struggling to pay the bills. This is a group from SM Entertainment that had a stable career, fame, and income. And more than half still chose to walk away," notes business analyst Kim Hee-chan. "It signals a massive shift in power dynamics. Today's idols are more aware of their rights, their market value, and have more alternative avenues—from establishing their own studios to joining savvy mid-sized agencies that offer better profit splits and creative freedom."
The crisis also exposes the vulnerabilities of SM's current structure. As the company has grown into a sprawling conglomerate with ambitions in AI, metaverse content, and multi-label systems, some argue the core mission of nurturing and retaining flagship artist groups has been diluted. The intense competition for internal resources, as seen with the struggles of managing both fixed and rotational systems—a tension we previously examined in "The Weight of Two Worlds"—can leave groups in the middle tier dangerously adrift.
Furthermore, in the hyper-competitive landscape, where groups from agencies like HYBE's labels are achieving global dominance at a blistering pace, the pressure on groups like Rising to become "superstars" is immense. The gap between "successful" and "dominant" has widened, and the patience for a slow, SM-style multi-year buildup has evaporated, both within the company and among the artists themselves.
An Uncertain Future: Scenarios for What Comes Next
The dust is far from settled. All eyes are now on SM Entertainment's next move and the individual paths of the seven young men at the centre of this storm.
For the Departed Four: The immediate future likely involves a strategic silence, followed by carefully curated re-introductions. Jaeyoon and Hyunwoo are expected to pursue music-focused paths, potentially launching their own labels or joining producer-driven companies. Minseok will likely be the first to re-emerge, with Variety and acting offers already rumoured to be flooding in. Kai may explore performance-based opportunities, including dance crews or theatrical productions. Their success or struggle will be closely watched as a barometer for other idols considering a similar leap.
For the Remaining Three: SM faces a critical decision. Will they attempt to revive Rising as a trio, a move fraught with risk and likely to be met with mixed reception from a shattered fandom? Will they be folded into the ever-expanding NCT universe as a new unit—a controversial but logistically plausible option for SM? Or will they be redeployed as a subunit or soloists under the SM banner? The company's statement promises "new directions," but its ability to effectively manage and promote this remnant will be a major test of its current operational competence.
For SM Entertainment: This is a profound reputational and systemic blow. It must conduct a serious internal post-mortem to prevent further erosion of its artist roster. The company needs to reassess how it manages groups that are not its absolute top priority, offering clearer communication, more consistent creative opportunities, and perhaps more flexible contract terms that accommodate individual aspirations. Failure to adapt could see more mid-career artists voting with their feet, weakening the very "SM legacy" the company holds so dear.
The collapse of Rising is more than the end of a single group. It is a stark emblem of a changing industry—where the old guarantees are gone, where artist agency is paramount, and where the fortress walls of the major entertainment companies are no longer as impenetrable as they once seemed. The story of these seven young men will now diverge, but the echo of their collective fracture will resonate through the halls of Seongsu-dong and beyond for years to come, a cautionary tale and a catalyst for change in the relentless world of K-pop.