The agency that created BTS is embroiled in a public struggle with SM’s powerhouse founder Lee Soo-man. Will it end with a cliffhanger?
The companies are wrestling for control of SM with competing board slates at the March 31 annual meeting in Seoul.
HYBE also sends a letter to SM demanding the current board terminate a pact with Kakao and withdraw its Kakao-nominated director candidate.
Tech giant Kakao had agreed to buy shares as part of a partnership agreement, which SM founder Lee Soo Man opposes; he turned to rival HYBE instead.
The parent of Starship Entertainment, which includes Monsta X and other K-pop acts, says the investment will help "spearhead growth in K-culture worldwide."
The music investment firm shows global ambitions by acquiring the catalog through a new U.S. subsidiary.
The group may not perform again with its full-seven member lineup until 2025 — putting a lot of weight on solo projects and new bands like Seventeen and NewJeans.
The application was "filed against the principle of good faith," the KIPO tells Big Hit parent HYBE, noting V first used the "Borahae" term in 2016.
With Jin turning 30 in December, and other groups like NCT 127 facing compulsory service, politicians scramble to find a solution.
