Shifting sands in the world of K-Pop continue. We wrote about technology firm Kakao buying a stake in Korean music company SM Entertainment earlier this week, but now it’s been joined by another high-profile investor: Hybe.
The latter has reportedly acquired a 14.8% stake in SM Entertainment to become the largest individual shareholder in what we’d previously have described as one of its key domestic rivals.
The message is one of collaboration to continue K-Pop’s growth internationally with quotes like “the shared vision for the future of K-pop industry” and ambitions to “further strengthen the presence of K-pop in the global stage”.
The news also caps a busy (and expensive) start of 2023 for Hybe, whose US subsidiary has just agreed a merger and acquisition with the parent company of hip-hop label Quality Control.
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