SM Entertainment concentrates on the music business
- 이소연 2021.04.05 17:27
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SM Entertainment is concentrating on the music business and thus, establishing a subsidiary for the non-music business
SM Entertainment is promoting a restructuring of its affiliates in order to focus on the music business.
SM established a wholly owned subsidiary'SM Studios' through the public announcement on the 5th, and took all shares of SM C&C, Keyeast, SM Life Design Group, Dear U, and Mystic Story owned by SM. Announced that it will be invested in kind.
SM Studios, a new corporation, promotes the efficiency of group management through a responsible management system, and is expected to secure market competitiveness as affiliates related to media studios have collective bargaining power as the integrated management of drama, entertainment, and new media sectors.
SM said, "We plan to focus more on the music business, which is the original business of entertainment, through this restructuring."
Written by Gong Mina
Translated by Lee So Yun
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