It’s no secret that HYBE is looking to expand its business further beyond South Korea, and indeed beyond K-Pop. Now Bloomberg has reported that the company is trying to raise around 500bn won ($380m) to fund some new acquisitions in the US.
The report claimed that HYBE is open to “both strategic and financial partners” with the funding, which follows the company’s failed attempt to become the largest majority shareholder in fellow K-Pop firm SM Entertainment earlier this year.
At the time, HYBE’s chairman Bang Si-hyuk said that his company would “announce a substantial number of acquisitions and investments within this year as part of our efforts to widen our presence in the US”.
HYBE already has a base to build on in that market: in April 2021 the company announced a partnership in the US with Universal Music Group, then merged with Scooter Braun’s investment company Ithaca Holdings.
More recently in February 2023, HYBE US acquired the parent company of hip-hop label Quality Control.