Both sides agreed that they will use the same name Red Velvet from now on.
Previously it was reported that an indie band voiced out their opinion against SM Entertainment that their new girl group has the same name as their band which is Red Velvet, and also since the indie band has been around since 2013 in Hongdae area, they expressed their frustration by saying that the agency didn't put in any consideration in choosing the group's name, which led this misunderstanding.
However, it seem they came to a mutual agreement upon this issue as SM Entertainment released their statement today,"Both the groups had a good meeting with each other and decided to share the same name. SM's new girl group will proceed with their debut schedule without any problem. We also want to thank Red Velvet band for their consideration".
Meanwhile, Red Velvet will have their 1st debut stage on August 1st on 'Music Bank'.