Tag: SM Entertainment

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SM Entertainment Issues Statement Regarding SHINee Taemin and Onew Signing With New Company

SHINee poses while preparing for their album 'Hard.' Credit: Facebook/SHINee

The news of SHINee’s Taemin and Onew’s impending contract expirations with SM Entertainment has sent shockwaves through the K-pop community, sparking a flurry of speculation and anticipation regarding the future trajectory of these beloved artists’ careers. Now, the agency has issued a statement addressing the group members’ contracts.

SHINee’s Taemin and Onew Reportedly Leaving SM Entertainment

According to reports from reputable news outlets such as News1 and YTN, Taemin’s exclusive contract with SM Entertainment is set to conclude by the end of the month, also marking a significant milestone in his professional journey. While the details of his future plans remain shrouded in mystery, sources suggest that Taemin will continue his solo endeavors under the auspices of a new agency, while maintaining his group activities with SHINee under SM Entertainment’s management.

Meanwhile, industry insiders have also hinted at Onew’s impending departure from SM Entertainment, with reports indicating that his exclusive contract is also slated to conclude in the first half of the year. With both Taemin and Onew poised to embark on new chapters in their careers, fans are also eagerly awaiting further announcements regarding their future affiliations and projects.

In a surprising turn of events, SPOTV News has reported that Taemin is in talks to sign with Big Planet Made Entertainment, adding an unexpected twist to the unfolding narrative. However, representatives from the agency have also remained tight-lipped about the potential recruitment, refraining from divulging any concrete details or confirming the speculation.

SM Entertainment Addresses SHINee Contract Renewal

It didn’t take long before SM Ent decided to address the news. In an official statement, the company confirmed that group activities will continue.

“SHINee’s activities will continue at SM Entertainment without change, and contracts for individual activities will be decided according to each member’s wishes.”

“We are positively discussing with Minho and Key about not only group activities but also individual activities, and Onew is exploring various options. Our exclusive contract with Taemin expires in March. Taemin’s next course of action following his contract expiration has not been confirmed yet, and we heard that he is considering various options.”

The prospect of Taemin and Onew parting ways with SM Entertainment after 16 years of collaboration marks a significant milestone in their respective journeys as artists. Since their debut as members of SHINee in 2008, the duo has also played an integral role in shaping the landscape of K-pop, delighting fans with their chart-topping hits and captivating performances.

From Onew’s soulful solo endeavors to Taemin’s electrifying solo releases, their contributions to the music industry have been nothing short of extraordinary. As they stand on the precipice of new beginnings, fans are filled with a mixture of excitement and nostalgia, reflecting on the countless memories and milestones shared over the years.

As the countdown to their contract expirations draws nearer, all eyes are also on Taemin and Onew as they prepare to embark on the next chapter of their illustrious careers. Whatever the future may hold, one thing is certain: the legacy of SHINee will continue to shine brightly, illuminating the hearts of fans around the world for years to come.

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Lee Soo Man Sells His Remaining SM Entertainment Shares to HYBE

HYBE has acquired an additional 3.64 percent stake in SM Entertainment for 104.3 billion KRW (approximately 78.2 million USD). This marks a major shift in the company’s ownership landscape. This transaction involves all the remaining shares of SM Entertainment held by its founder and former chief producer, Lee Soo Man. With this development, Lee Soo Man will no longer have any stake in the agency he built in 1995, home to K-pop acts like aespa and NCT.

The backstory to this development has to do with a decision Lee Soo Man made last year. He decided to sell a 14.8 percent stake in SM to HYBE during a contentious battle for control of the company involving Kakao. This latest purchase involves his 868,948 shares going for 120,000 KRW each. This price was significantly above the current share price. This move is the result of Lee Soo Man exercising his put option. This right was agreed upon during their previous transaction in February 2023.

@iqtaehyun

i was SHOCKED when i saw this but it wont rlly affect the idols under sm. #leesooman #sm #smentertainment #nct #aespa #redvelvet #kpopfyp

♬ sad SpongeBob music – michael

HYBE now owns 12.6 percent of SM

Set to be finalized by March 7, this acquisition will increase HYBE’s stake in SM Entertainment to 12.6 percent. The initial purchase of Lee Soo Man’s shares was part of HYBE’s effort to gain a controlling interest in the agency, amounting to an investment of 422.8 billion KRW. But when Kakao emerged as the winner in the takeover battle, HYBE had to reduce its stake back to around 8 percent.

Kakao and Kakao Entertainment currently hold a combined 39.87 percent stake in SM. This means they’re the company’s largest shareholders. This intense battle reshaped the ownership structure of SM Entertainment and had significant repercussions for Kakao. Its chief investment officer, Bae Jae-hyun, is currently standing trial over allegations of stock price manipulation during the bid.

The sale of Lee Soo Man’s remaining shares to HYBE is a landmark moment in SM Entertainment’s history. It means the man who built the agency no longer has any ties to it as of this writing. As SM Entertainment turns the page, the rest of the industry is waiting to see how this development will change the K-pop scene in South Korea and beyond. – K-Pop News Writer

Featured Image: HYBE now has a larger ownership stake in the agency that was once one of its fiercest rivals. Source: X/@beyondthestarf.

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RED VELVET Seulgi Reveals How She Tried To Get Recruited By SM Entertainment

It looks like Seulgi refused to let anyone stop her from joining the entertainment industry. The RED VELVET member also revealed that she took matters into her own hands to get recruited by SM Entertainment.

Seulgi Reveals How To Get Recruited by SM Entertainment

On the March 2nd episode of ‘Immortal Songs’, RED VELVET’s Seulgi shared a candid glimpse into her journey to joining SM Entertainment, revealing the determination and perseverance that ultimately led to her debut as an idol. Reflecting on her school days, Seulgi recalled harboring dreams of being recruited by SM Entertainment, a goal she actively pursued with unwavering dedication.

“I was waiting to be recruited,” Seulgi revealed, highlighting her eagerness to catch the attention of talent scouts from the renowned entertainment agency. With hopes of catching the eye of scouts who often scouted talent outside of schools, Seulgi meticulously dressed herself, anticipating the opportunity to showcase her potential. Despite her efforts, however, Seulgi never received a card from SM Entertainment, prompting her to take matters into her own hands.

Undeterred by the lack of a formal invitation, Seulgi took the initiative to visit SM Entertainment herself, determined to make her dreams a reality. Her proactive approach and steadfast determination ultimately paid off, leading to her recruitment as a trainee and also setting her on the path to becoming a member of RED VELVET.

Seulgi’s Path to Success

Seulgi recently surprised fans with the announcement of her own personal YouTube channel, signaling a new chapter in her journey as an artist. The news, shared via the official RED VELVET X account, also sparked excitement among fans eager to gain a closer insight into Seulgi’s life beyond the stage.

Known for her impeccable sense of style and captivating charm, Seulgi’s YouTube channel also promises to offer fans a deeper connection and a more intimate look into her world. With a focus on fashion, beauty, and lifestyle, Seulgi also intends to treat the platform as her personal diary, inviting fans to join her on her adventures and share in her passions.

https://www.youtube.com/watch?v=p2UBlgawquY

From engaging vlogs showcasing her unique sense of style to behind-the-scenes glimpses of her daily life, Seulgi’s YouTube channel is also poised to become a must-watch destination for fans seeking a deeper understanding of the multifaceted artist. As Seulgi embarks on this new creative venture, fans also eagerly anticipate the content she will share and the stories she will unfold, eager to accompany her on this exciting journey beyond the stage.

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RIIZE Wonbin Reveals Why He Almost Quit as a Trainee

In the competitive world of K-pop, where aspiring idols are surrounded by seemingly endless talent and beauty, the journey to success can often feel like an uphill battle. Wonbin’s candid confession that he almost quit as a trainee in the latest episode of ‘RIIZE in Paris’ shed light on the internal struggles that many trainees face on their path to debut.

Wonbin Reveals Why He Almost Quit RIIZE

As a member of RIIZE, a rising K-pop group under the spotlight, Wonbin’s admission of feeling inadequate before his debut resonated with viewers. In a vulnerable moment shared with fellow member Sohee during a car ride in Paris, Wonbin revealed the depth of his insecurities upon entering the entertainment industry. He recounted a pivotal moment when he reached out to his parents, overwhelmed by self-doubt and a sense of inferiority.

Wonbin’s revelation highlighted the immense pressure placed on trainees to measure up to the standards set by their peers. In an environment where talent, looks, and skill abound, it’s all too easy for self-doubt to creep in. The presence of fellow RIIZE members Sungchan and Eunseok, who impressed Wonbin with their striking appearance and exceptional dancing abilities, served as a stark reminder of the fierce competition within the industry.

The vulnerability displayed by Wonbin humanized the idol journey, reminding fans that behind the glamour and success lies a multitude of emotions and challenges. His honesty resonated with viewers who may have experienced similar feelings of inadequacy or self-doubt in their own pursuits.

The Struggle to Stardom

Wonbin’s journey serves as a testament to resilience and perseverance in the face of adversity. Despite his initial struggles and doubts, he ultimately found his place within RIIZE, showcasing his own unique talents and charm. His story serves as an inspiration to aspiring idols and fans alike, demonstrating the importance of staying true to oneself and pushing through obstacles to achieve one’s dreams.

As ‘RIIZE in Paris’ continues to document the group’s journey, Wonbin’s candid confession serves as a powerful reminder of the human experience behind the glitz and glamour of the K-pop industry. It’s a testament to the strength of character and the unwavering determination required to succeed in an environment where the stakes are high and the competition fierce.

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Dispatch Reveals Actor Lee Jae Wook and aespa’s Karina Are Dating

On the morning of February 27, South Korean media outlet Dispatch broke the news that actor Lee Jae Wook and aespa‘s Karina are in a relationship. Hours later, Lee Jae Wook’s agency, CJes Studios, made a statement confirming the report. “The two are getting to know each other,” they wrote. “Lee Jae Wook is currently filming a drama, and as this involves his private life, we ask for warm respect to be shown.”

Echoing this sentiment, Karina‘s agency, SM Entertainment, confirmed the budding romance. According to Dispatch, the actor and the aespa member first crossed paths at the Prada fashion show in Milan on January 14 and started dating soon after. The report detailed their discreet meetings in Lee Jae Wook’s neighborhood and shared sightings of the couple during late-night walks, painting a picture of a nascent, yet promising, relationship.

@jaehyunboynextdoor

THEY LOOK CUTE THO 😭😭🫶 KARINA AND LEE JAEWOOK DATING NEWS #karina #leejaewook #dating #dispatch #karinaaespa #aespa #jaewook #kdrama #actor #kdramafyp #kpop #kpopfyp #fyp #fypシ #foryou #foryoupage

♬ Star – Colde

However, this romantic development seems to have cast a shadow over SM Entertainment’s financial standing. On the day the relationship was confirmed, SM Entertainment’s stock experienced a significant downturn, opening at 87,700 KRW (about 65.80 USD) and closing at 79,900 KRW (about 60.00 USD). This marked a decrease of 3,000 KRW (about 2.25 USD) or 3.7 percent.

This decline was surprising given the company’s recent announcement on February 7 about its decision to pay dividends worth approximately 28.1 billion KRW (about 21.1 million USD) and retire 241,379 of its shares. This strategic financial maneuver was aimed at enhancing shareholder value, marking a first in SM Entertainment’s history since its inception in 1995. The link between the dating news and the stock market’s reaction remains speculative. That said, the timing of the downturn is too big of a coincidence.

Dispatch has a history of exposing dating news

Karina, who debuted with aespa in 2020, and Lee Jae Wook, who has been acting since 2018, are influential figures in their respective fields. Meanwhile, Dispatch is known for revealing high-profile relationships, often at the start of the new year. This has become an anticipated event among fans, as Dispatch has a history of exposing dating news involving K-pop idols, actors, and other celebrities, leading to widespread media coverage and public interest.

As their fans come to terms with this news, the industry is watching closely to see how this relationship will unfold. Many are concerned about its eventual impact on both their careers and the broader entertainment landscape. The confirmation by their agencies marks a significant moment, blending the worlds of acting and K-pop in a romance that has everyone talking. – K-Pop News Writer

Featured Image: Apparently it was love at first sight for both celebrities. Source: X/@femmrohi.

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Former Trainee A Member JJ Transfers to SM Entertainment

In an unexpected twist, former Trainee A member JJ made headlines by transferring to SM Entertainment. This move comes almost two years after the disbandment of Trainee A, a group that had been training at the old BigHit Entertainment building. The group was anticipated to be the next big thing from the label that gave K-pop stans BTS and TOMORROW X TOGETHER (TXT). Although the project fell through, JJ‘s journey in the music scene has taken a promising turn with this news.

@bunjayie

Future Perfect JJ focus #traineea #jj #justinjay #enhypen #bighit #hybe

♬ Future Perfect (Pass the MIC) – ENHYPEN

JJ, born Justin Jay Takagi on January 27, 2006, is a Japanese-American artist known not just for his dance skills but also for being fluent in English, Japanese, and Korean. His unique background and visuals have always made him stand out, even more so now as he embarks on a new chapter with SM Entertainment.

JJ‘s journey is marked by significant achievements. He was a backup dancer for TVXQ in 2019 and a champion of the DANCE ALIVE HERO’s dance competition in 2021. His ESFP personality type shines through in all that he does. He has a knack for playing the guitar and diverse interests, including a fondness for Justin Bieber and fashion. These qualities paint a picture of a passionate, vibrant individual ready to make his mark in K-pop.

Fans are supportive of JJ

The news of JJ‘s transfer came as a pleasant surprise to many. Some former Trainee A members had already embarked on new paths, while JJ remained silent for the longest time. So when he was spotted at Gimpo Airport on his way to watch SMTOWN LIVE 2024 in Japan, fans were thrilled. He was immediately recognizable due to his distinctive features. 

@hyoursabe

beneran JJ😭 I hope he can make his debut. good luck jj🥹🥰 #JJ #justinjay #traineea #takagijustinjay #jjtraineea

♬ in the stars – sami rose

At first, fans weren’t sure if it was him. However, as more photos emerged, JJ’s sister hinted that she too was heading to the Tokyo Dome. It soon became clear that JJ had indeed gone to SM Entertainment.

Despite concerns from some fans about the agency’s reputation, the overwhelming sentiment is one of support and anticipation for JJ‘s future endeavors. His transfer to SM Entertainment isn’t just a new beginning for the young artist. It’s also a testament to his resilience and dedication to pursuing his dreams. As JJ navigates this phase of his career, fans are eager to see what he’ll bring to the music scene as part of SM’s roster. – K-Pop News Writer

Featured Image: It’s nice to know this cutie didn’t give up on his dreams! Source: X/@taengooyaaak.

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SM Entertainment Scouting Producers, Songwriters Through KMR Subsidiary

SM Entertainment is expanding its influence in music publishing by looking for global talent through its subsidiary, Kreation Music Rights (KMR). As of late January, KMR has successfully signed 86 creators over the last five months. This highlights SM Entertainment’s commitment to nurturing a diverse range of musical talents.

Girls’ Generation 소녀시대 ‘소원을 말해봐 (Genie)’ MV

Among the notable signings are Dsign Music, the Norwegian songwriting and music production company behind iconic K-pop tracks like Girls’ Generation’s “Genie,” NCT Dream’s “ISTJ,” and Taemin’s “Want.” The Swedish songwriting Sunshine, known for their work on Red Velvet’s “Psycho” and aespa’s “Spicy,” are also on KMR’s roster. These creators are affiliated with KMR’s European body, established in Stockholm, Sweden, in December last year to recruit talent from Europe.

KMR isn’t stopping there. Plans are underway to establish a body in the USnd form partnerships with companies to attract creators in North America. SM Entertainment’s goal is to position KMR as the top music publishing company in Asia within the next five years.

SM Entertainment’s strategy

 The company is also focusing on domestic talent, with three production teams—Monotree, SmashHit, and The Hub—operating under KMR as separate business entities. Monotree, with 603 songs licensed under the Korea Music Copyright Association (KOMCA), is led by its Chief Producer Hwang Hyun, known for his work on IVE’s “Kitsch” and SEVENTEEN’s “I Wish.” 

IVE 아이브 ‘Kitsch’ MV

The Hub has an all-foreign team of producers and songwriters, excluding its Chief Producer Yoo Byung-hyun, who most recently worked on NMIXX’s “Soñar (Breaker)” and “Break The Wall.” Finally, SmashHit’s team is led by their Chief Producer Kangta, formerly of the legendary boy band H.O.T.

SM Entertainment’s strategy for the rest of the year includes recruiting top songwriters from Europe, Korea, and the US. The company plans to leverage KMR’s resources to venture into artist management, aligning with SM 3.0’s “multi-label” strategy. This initiative underscores SM Entertainment’s dedication to broadening its musical horizons and fostering creative talent across the globe. – K-Pop News Writer

Featured Image: KMR has over 80 creators in its stable as of this writing. Source: X/@makkulion.

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SM Entertainment to Debut British Boy Group With ‘X Factor’ Producer Nigel Hall

SM Entertainment made headlines when the agency announced plans to debut a boy group in the UK. Now, news has broken that Nigel Hall, the esteemed producer behind Britain’s Got Talent and The X Factor, has come on board to work on the project. SM will collaborate with Moon&Back Media, an entertainment company led by Hall, on a six-episode TV series focusing on the formation of a K-pop group consisting entirely of British members.

Hall has had quite the career in television. Starting his career in the BBC newsroom, he quickly made his mark by bringing You’ve Been Framed and Stars in their Eyes to Granada Television. His tenure at ITV as Head of Light Entertainment began in 2002. It was marked by the launch of wildly popular programs that remain staples of the network.

Perhaps most notable is Hall’s collaboration with Simon Cowell, leading to the creation of Syco Entertainment. Together, they launched the Got Talent and X Factor franchises. Not only did both generate over 2 billion USD in revenue, but they also made household names of Leona Lewis, Little Mix, and One Direction. As a result, Cowell became one of the highest-paid television personalities in the UK and the US.

Hall and SM will combine their expertise

Hall’s history with hit shows like Got Talent and X Factor shows he’s great at finding and growing talent. His work with SM Entertainment will combine his reality TV skills with SM’s knowledge of K-pop. This partnership plans to use Hall’s experience to make content that people everywhere will enjoy. With Hall at the helm, they could introduce new ways to discover stars.

This effort could start a new era for survival shows, blending the best of British production expertise with the dynamic world of K-pop. The goal is to form a boy group that’s popular in South Korea and around the world. – K-Pop News Writer

Featured Image: Hall and his associates posed with SM Entertainment representatives late last year. Source: X/@Jeff__Benjamin.

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RED VELVET Irene Finally Renews SM Entertainment Contract

RED VELVET’s Irene and SM Entertainment have solidified their ongoing partnership, with Irene renewing her contract with the agency. It’s a major development after Irene was previously reported to be against renewing her SM Entertainment contract.

Irene Confirms SM Entertainment Contract Renewal

The announcement, made on February 7, underscores the foundation of trust between Irene and SM Entertainment, reflecting their shared commitment to continue their journey together.

Expressing her gratitude, Irene stated, “I renewed out of trust for SM Entertainment, who made me who I am now, and the company staff whom I worked together with since my debut.”

Her decision to renew her contract demonstrates her confidence in the agency and the team that has supported her throughout her career. Irene also conveyed her appreciation to the fans who have steadfastly supported RED VELVET, promising to impress them with diverse activities alongside her fellow members.

SM Entertainment echoed Irene’s sentiments, emphasizing their commitment to supporting her in various endeavors. They expressed their intent to facilitate Irene’s activities as a global artist, highlighting their dedication to nurturing her career and helping her reach new heights. The agency’s renewal of Irene’s contract follows a similar move with fellow RED VELVET member Seulgi, reinforcing their investment in the group’s continued success.

Since her debut with RED VELVET in 2014, Irene has been an integral part of the group’s success, contributing to numerous hit songs and memorable performances. From their debut single “Happiness” to recent releases like “Psycho” and “Feel My Rhythm,” RED VELVET has captivated audiences worldwide with their unique style and undeniable talent. Most recently, the group made a comeback with their third full-length album “Chill Kill,” further solidifying their position as one of K-pop’s leading acts.

As Irene embarks on this new chapter with SM Entertainment, fans can anticipate exciting developments and activities from RED VELVET in the coming years. With their unwavering support and Irene’s dedication to her craft, the future looks bright for both the artist and the group as they continue to make their mark on the global music scene.

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HYBE Reportedly Looking To Acquire SM Entertainment Again

Recent industry rumors have ignited speculation about HYBE Labels, the powerhouse behind BTS and other global K-pop acts, considering another move to acquire SM Entertainment. These rumors have surfaced amid reports suggesting that Kakao, the multimedia giant, may explore selling SM Entertainment, a claim Kakao has officially denied. The K-pop landscape has been buzzing with discussions surrounding potential acquisitions and their potential impact on the industry.

HYBE Labels Possibly Makes A New Move to Acquire SM Entertainment

The speculation gains context from last year’s headline-grabbing attempt by HYBE Labels to acquire SM Entertainment. The proposed deal, had it materialized, could have reshaped the K-pop landscape significantly. However, the deal fell through for various reasons, leading to a return to the drawing board for both companies.

Recent reports indicate that HYBE Labels might be considering a renewed effort to acquire SM Entertainment, potentially in collaboration with founder and former chairman Lee Soo Man. While Kakao has officially denied the rumors of selling SME, industry insiders are closely monitoring the situation, given the ongoing speculations.

Insiders suggest that other companies are also exploring the possibility of acquiring SM Entertainment, even after the reported breakdown of the deal with HYBE Labels last year. Rumors abound that HYBE chairman Bang Si Hyuk is personally approaching private equity funds with a proposal to acquire SM Entertainment. The involvement of key figures and the potential collaboration with Lee Soo Man adds layers to the unfolding narrative.

Further rumors suggest that Lee Soo Man, after selling a portion of his stake in SM Entertainment to HYBE, may seek to return to the label. This potential move raises questions about the dynamics between the founder and the company’s future direction. Additionally, companies like NCSOFT, F&F (a fashion company), and MGM (an American entertainment group) are reportedly exploring the prospect of acquiring SME.

The K-pop industry, known for its dynamism and strategic partnerships, remains in a state of flux as these rumors circulate. The potential acquisition of SM Entertainment by HYBE Labels or other entities could have far-reaching implications for the global music scene. As the situation develops, stakeholders and fans alike eagerly await official announcements that will shape the future of these entertainment powerhouses.

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