To this end, we ask Applicants to provide us with their consent after understanding the points below. K-pop monopoly? Weverse Shop, the official e-commerce for the fans around the world! If you see malicious activities such as defamation, personal attacks, sexual harassment, the spread of groundless information, and ill-intentioned criticism towards BTS, do not engage; instead, you should report it! (1) All personal data obtained through the services of the Company (name, gender, age, date of birth, occupation, address, telephone number, email address, history of use of the Services of the Company etc., and other information provided to the Company) may be jointly used by HYBE SOLUTIONS JAPAN Inc., subsidiaries and sub-subsidiaries of the parent company of HYBE LABELS JAPAN Inc., and companies with capital ties to HYBE SOLUTIONS JAPAN Inc. (including companies in Japan and overseas; hereafter referred to as the HYBE LABELS), at the Companys own risk and within the scope of the following purposes of use: (a) To contact about membership registration, continuation, withdrawal, and other procedures related to the Services of the Company etc. It promises: a . Please do not send e-mails other than reporting those malicious posts. (Fortune reported that BTS, which is currently on hiatus while members perform their mandatory military service, alone accounts for around 0.2% of South Koreas entire GDP.) 5 min read HYBE, the company formerly known as Big Hit Entertainment, which is home to BTS, the South Korean pop group, has merged with Ithaca Holdings, the company led. Hybe Co., Ltd. (Korean: , stylized as HYBE Corporation) is a South Korean multinational entertainment company established in 2005 by Bang Si-hyuk as Big Hit Entertainment Co., Ltd. Back in July 2019, when the company was still known as Big Hit Entertainment, HYBE acquired shares in Source Music the former home of GFRIEND. The company is taking every action possible, civl or criminal, especially against YouTube and DC Inside accounts who repeatedly engage in such activities. Im Kyeong-hwan of the Korea Fair Trade Commission told Reuters, When a merger and acquisition takes place, we look at management, record sales, streaming, tours and merchandise. How did the feud between HYBE and SM Entertainment start?Earlier this month, HYBE bought a 14.8% share in SM Entertainment and became its largest single shareholder. BIGHIT stated they will continue to initiate strict measures to ensure that these malicious acts are not repeated, and their policy of no settlement and no leniency remains in effect. HYBE () is a South Korean entertainment company. Take a look at how to apply for HYBE multi-label audition here. The following contact options are available: Pricing Information, Support, General Help, and Press Information/New Coverage (to guage reputation). SM also mentioned a part of HYBEs official statement when they were announcing their contract with LSM, which states, Chairman Bang Si-hyuk expressed deep agreement with the Humanity and Sustainability campaign Lee Soo-man announced earlier this year and told Lee Soo-man of his desire to take part in using the influence of sustainable K-Pop together, and Chairman Bang Si-hyuk states that HYBE fully agreed with the strategic direction such as the implementation of the metaverse, establishment of a multi-label system, and a campaign to save the Earth,. It was originally founded by Bang Si Hyuk as Big Hit Entertainment in 2005. Regarding BigHits legal proceedings against the violation of artist rights. Hybe, the South Korean entertainment company behind K-pop sensation BTS, says it has completed its acquisition of a 14.8% stake in rival SM Entertainment, making it SM's largest single shareholder Min Hee Jin is the current CEO of HYBE's sub-label ADOR. *Museum Visit Reservation HYBE plans to buy up to 40% of the company at an estimated price of just over a trillion South Korean won, approximately $900 million. The Act on the Protection of Personal Information (hereafter referred to as the Act) stipulates that a personal information handling business operator shall notify or make public the purpose of use of the personal information it collects. Discover which options are the fastest to get your customer service issues resolved.. Us members of SM have been completely used in former chief producer Lee Soo-mans illegal acts including fraudulent actions for his personal interests and tax evasion. Running Up That Hill Isnt the Only Track Thats Finding New Fans After Scoring a Major Placement, Unauthorized Music Usage on TikTok Can Cost Brands Big But Theres a Way to Avoid Expensive Licensing Headaches, How Sync Licensing Helped Musicians Thrive When Live Music Was Paused, Kate Bush Thanks Stranger Things Fans for Giving Running Up That Hill a New Lease on Life, Heres How Apple Has Dominated Sync Licensing for Two Decades Running. It was originally founded by Bang Si Hyuk as Big Hit Entertainment in 2005. The Company is engaged in businesses such as fostering artists, producing music, planning and acting on behalf of performances, distribution of albums and sound sources, production and distribution of video contents, and advertising agency. With a whopping market capital of $11.3 billion, HYBE is the richest K-pop company of 2022. Meanwhile, Hybe reportedly maintains that the contract favors Kakao by allowing it to purchase newly issued shares before other investors have the opportunity to do so. POP! OG online entertainment programs in the Any revision made will be disclosed by reflecting it in the Privacy Policy published on the website operated by the Company or by other means. BTS is a BigHit artist, and ADOR has hit the jackpot with the new girl group NewJeans. (b) To provide the Services of the Company etc. The company operates as a record label, talent agency, music production company, event management, and concert production company, and music publishing house. Kakao Corp also announced it will purchase the shares. We make eduacted guesses on the direct pages on their website to visit to get help with issues/problems like using their site/app, billings, pricing, usage, integrations and other issues. Following the news of changing its name, BTS ' management company HYBE Corporation (formerly known as Big Hit Entertainment) has now acquired Ithaca Holdings - the Scooter Braun -led music label behind stars like Justin Bieber and Ariana Grande. Aespas lyrics to their title track, according to Lee Sung-su, was supposed to include phrases completely unrelated to their group concept such as just sustainability, at least one degree lower, coexistence, greenism, and tree planting. According to Jang Cheol Hyuk, if HYBE fully controlled SM, they would own two-thirds of the South Korean pop music market. Yohap. Bang Si Hyuk is a manager, and works in the entertainment industry. (Yonhap), Japan changed from 'aggressor' to 'partner' with shared universal values: President Yoon, Single-use toiletries ban poses challenge for hotels, Korea seeks to overhaul banks' corporate governance, US confirms talks with Korean ammunitions maker over sales deal, Plunging exports add to concerns over possible economic contraction in Q1, Liquor firms freeze alcohol prices due to gov't pressure, Travel reality shows featuring celebrity buddies become more common, This photo shows an electronic display logo of SM Entertainment's headquarters in Seoul. Do Not Sell or Share My Personal Information, Travis Scott is sought by New York Police after alleged assault and criminal mischief, Travis Barkers finger injury delays Blink-182 tour: One of those freak accidents, The timeless creativity of De La Soul, now (finally) available for the streaming generation, Before and after photos from space show storms effect on California reservoirs, Yet more rain expected to hit California in March. Get Verified Emails For HYBE Popular HYBE's email templates: From HYBE's stake in SM Entertainment to Live Nation's $9.6bn investment in artists it's MBW's Weekly Round-Up. HYBE LABELS JAPAN Inc. all rights reserved. BIGHIT MUSIC regularly collect evidence and file criminal complaints through constant and real-time monitoring of online postings in all channels including BTS Twitter, blog, and YouTube as well as via their hotline. The company has asked for fans to make continued used of their email hotline to report any cases of abuse. For more information, keep an eye on the official Instagram page of HYBE Audition and the website. The revised Privacy Policy shall apply from the date of such disclosure. We will resist HYBEs attempt to take over SM in an abnormal manner. In a regulatory filing released on Feb. 10, HYBE announced that it had bought 3.5 million shares from SM Entertainment founder and former CEO Lee Soo-man for approximately $78.46 per share, worth a total of $334.3 million. "When Hybe unearths talented new artists, produces great music or finds great choreographers, it will send them to labels in which it has higher stakes than in SM, such as BigHit, ADOR, Source Music and Pledis," the letter read. Interested participants have to first preregister for the audition within April 4th here . Enhypen, commonly stylized as ENHYPEN, officially abbreviated as EN-, is a South Korean seven-member boy band formed by Belift Lab, a joint venture between the entertainment companies CJ E&M and Big Hit Entertainment. They also said that they will not get involved if LSMs personal activities arent related to SM Entertainment. The monopoly created as a result of HYBEs hostile acquisition of SM will cause more diverse and direct problems, including decreased diversity of artists, music and concerts.. With Braun as the companys U.S. chief executive, HYBE recently acquired Quality Control, the Atlanta hip-hop label and management firm behind Migos, Lil Yachty, Lil Baby and City Girls. HYBE () is a South Korean entertainment company. Lee Soo-man deserted SM and Pink Blood and ran away, but we will remain at Seoul Forest and protect SM and Pink Blood., Collective of 208 SM Entertainment regular employees.. display: none !important; In order to improve its dominance in the K-pop sector, the South Korean entertainment business HYBE said on Friday that it will purchase shares from rival SM Entertainment for 423 billion won ($334.51 million). We have developed a system that will try to get in touch with a company once an issue is reported and with lots of issues reported, companies will definitely listen. His remaining stake is also scheduled to be transferred to Hybe this year, as the deal included a put option that gives Lee the right to sell the remaining shares at a specific price within a month from either the time when the business combination is approved or the day when the deal is sealed. If you see any sensitive content related to BTS and their privacy, please do not spread it further and REPORT to BigHit instead. "Hybe and SM are the two biggest rivals in this industry.". of the Company and the Companys Group companies in Japan and overseas (hereafter referred to as the Company etc.) (hereafter collectively referred to as the Services of the Company etc.). And in April, HYBE purchased U.S.-based media group Ithaca Holdings in . for their illegal deal with Kakao. HYBE Co., Ltd. (KOSE:A352820) made an offer to acquire 25% stake in.. Indian Morning Briefing: Asian Markets Broadly Lower, South Korean shares set for second weekly loss on recession fears, BTS Manager HYBE to Buy Stake in Peer SM Entertainment to Expand K-Pop Empire, BTS agency HYBE joins battle for South Korea's SM with tender offer. ", "Your decisions will affect the future of our company in a big way," the letter read. Variety is a part of Penske Media Corporation. recorded by audio and/or video or provided to the Company in connection with this Project for various mediums featuring this Project, such as TV, magazines, and websites, and may provide information to third parties operating the mediums to the extent necessary for such uses. At the same time, LSM had ordered SM Entertainments A&R team and SMs in-house producer Yoo Young-jin to insert lyrics relating to tree planting and sustainability in all of the companys important music releases. This merger acquisition is part of the larger vision for HYBE that is shared by Bang, Scooter and the rest of HYBE's leadership; to create a truly global entertainment platform that is rooted. In its letter to minor shareholders, SM called the ongoing saga "a critical turn of events that will never happen again in the Korean entertainment industry. 4.2/5 GFRIEND | Source Music June 29, 2022 KST User accounts dedicated to It is also a strong advocate of fairness and truth in storytelling. Hybe, the K-pop powerhouse best known for producing global sensation BTS, became the largest shareholder of SM on Feb. 22, acquiring a 14.8 percent stake from Lee, who had an 18.46 percent share in his namesake company. The Company is also engaged in the development and distribution of artist-based secondary contents such as merchandising (MD), characters, and publications. On the same day, SM Entertainments founder and Lee Sung-sus uncle Lee Soo-man had laid out his plans of suing his own brainchild (SM Ent.) This deal made HYBE the largest stakeholder of SM Entertainment, much to the surprise of many K-Pop fans. Purposes of Use of Personal Information Handled by the Company above, (3) Contact point for inquiries and requests. Basically, they said that they [HYBE] have not heard anything about CT Planning Limited and didnt get any info about the ESG activities that LSM wants to promote. We declare that SMs culture should not be subordinated to HYBEs capital. Parks latest letter did not address the concerns about Lee and his contracts. With all of these articles being too long, detailed, and filled with legal jargon, reports about the issue could be too confusing to read, or even incomprehensible at times. Specifically, Kakao Entertainment which pulled down nearly $1 billion in funding last month and set its own sights on a global expansion has established a U.S. joint venture with SM and will gain exclusive rights over international distribution under the pact, per the aforesaid Korea JoongAng Daily. This sounds like a K-pop season of Succession.It sure does! HYBE has also offered to buy a further 25% of the company from other shareholders. Details of this have been lifted from Soompis official article. According to industry sources Wednesday, SM has sent letters to small shareholders pledging a dividend payout of 1,200 won ($0.90) per share. Verified email Contact e-Mail: insig Click to view SM Entertainment co-CEOs Lee Sung-su and Tak Young-jun also announced their vision of a newly restructured SM Entertainment which they called SM 3.0. Hybe Co Ltd, formerly Big Hit Entertainment Co Ltd, is a Korea-based company mainly engaged in the business of fostering artists and producing music. Claim profile. All rights reserved. HYBE LABELS Audition | HYBE LABELS Contact. Hybe Entertainment, the management company behind K-Pop sensation BTS, says it has prepared for the band's military service hiatus and that it is no longer a one-act operation.. Also, please show Aespa some love. Hybe Corporation (bahasa Korea: ) adalah perusahaan hiburan asal Korea Selatan yang didirikan pada tahun 2005 oleh Bang Si-hyuk sebagai Big Hit Entertainment.Perusahaan ini beroperasi sebagai label rekaman, agensi bakat, produksi musik, manajemen acara dan produksi konser, dan sebagai penerbit musik rumahan.Perusahaan ini memiliki beberapa anak perusahaan, termasuk ADOR, Big Hit Music . Interested candidates have to pre-register for HYBE audition from March 20th April 4, 2022 (PDT). Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. And the above-noted Lee Soo-man, having pocketed north of $320 million from his partial SM sale to Hybe, has criticized the SM-Kakao deal as illegal and challenged the agreement in a South Korean court, according once again to the Korea JoongAng Daily. February 6/7, 2023. Your real card info stays hidden. For background, Hybe (KRX: 352820) which posted strong Q4 2022 revenue growth despite the hiatus of BTS has in recent weeks made clear its ambitious global expansion plans. POP! The statement reads as follows (translated from Soompi): Once former chief producer Lee Soo-man was in danger of having his illegal tax evading actions unveiled, he sold his shares to a competitor company that he used to speak ill of and ran away.