. decided to enter into a strategic partnership in various fields on February 7. It was also announced on the same day that Kakao had secured a 9.05% stake in SM Entertainment, thus becoming the second largest shareholder of SM Entertainment. With this, the inquiry disclosure that has been going on since May 2021 between SM and Kakao will come to a close with a happy ending.
Through this investment and business cooperation, the three companies agreed to pursue mutual strategic common interests by utilizing each other's business capabilities. It was decided to maximize synergy between each company by co-planning K-POP artists through global auditions and promoting global management business together in overseas locations.
SM plans to aggressively invest the funds raised during this time in the global music publishing business, global business expansion, and acquisition of domestic and foreign labels to promote the SM 3.0 strategy. This is expected to accelerate the implementation of the SM 3.0 strategy announced on February 3. Co-representatives Lee Seong Soo and Tak Young Joon of SM said,"
Through this strategic partnership with Kakao, SM is expected to secure a strong growth engine to develop into a leading global entertainment company."
I'm no good with business talking but kakao own 9% of SM right? Does 9% is really that big
kpopies , I’m still waiting for the long ass threads and dissertations about how SM is monopolizing the industry and how this is so so unfair for other artists and companies, come on… y’all were screaming bloody murder when it was hybe now all are back in their caves
Love lee soo man
Kakao is a pest for SM. So they must be removed along with the people involved in it
It's like watching an episode of 'reborn rich'.
SMTOWNGLOBAL NOOOO PLZ
Ayan tuloy makakasuhan kayo hahaha
“I think Kakao violated the law. Also, I’m not sure what you guys expect, but none of the labels Kakao has a significant stake in do very well.”
Lee sooman sue sm but bought the awards since 2016 or more... Hypocrital person. Go kakao x sm
dtseto world is changing
It's the end
What's happening in SM..
Natuloy na rin din palang nakuha ng Kakao ang share na inooffer ni SM. 😁😁
SM artists suddenly rising in Melon wbk. Hybe sajaegi subscription to be ended lol.
Bukan Kak muning ya?
no money for u aespa
Aespa comeback
Explain in care terms
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