SEOUL, June 1 (Korea Bizwire) — Several employees at Hybe, the K-pop company behind the boy group BTS, were found to have sold their company shares last year after learning confidential information about the septet’s suspension from performing as a group, South Korea’s financial regulator said Wednesday. The Financial Supervisory Service (FSS) announced that, following [...]
SEOUL, May 15 (Korea Bizwire) — K-pop powerhouse Hybe on Monday unveiled its first artificial intelligence (AI) project Midnatt, which sings a song in multiple languages and switches between female and male voices using generative voice technology. Midnatt, an alter ego of ballad singer Lee Hyun, dropped the new digital single “Masquerade” in six languages: [...]
SEOUL, May 2 (Korea Bizwire) — Despite its biggest boy group BTS’ pause in group projects due to its members’ military service, the K-pop company behind the group, Hybe, has achieved the biggest first-quarter results in its history, backed by the success of their solo projects. The company on Tuesday reported an operating profit of [...]
SEOUL, April 17 (Korea Bizwire) — SM Entertainment’s artists will join Weverse, a fan community platform created by Hybe as part of the two K-pop companies’ cooperation plan announced last month, the platform service and SM said Monday. They said 12 teams of K-pop artists who belong to SM will move from Kwangya Club, its [...]
SEOUL, March 24 (Korea Bizwire) — Hybe, the K-entertainment powerhouse behind global superstar group BTS, said Friday it will sell off all of its 15.78 percent stake in SM Entertainment to Kakao Corp. after its bid to take over the rival entertainment agency fell through. Hybe said in a regulatory filing that it will sell [...]
SEOUL, March 12 (Korea Bizwire) — Hybe, the K-entertainment powerhouse behind global superstar BTS, said Sunday it has decided to halt its bid to take over industry giant SM Entertainment in an agreement with Kakao Corp. The tech giant Kakao and its entertainment unit, Kakao Entertainment Corp., will have management control over SM Entertainment, while [...]
SEOUL, March 4 (Korea Bizwire) — A Seoul court on Friday blocked K-pop agency SM Entertainment Co.’s planned issuance of new shares and convertible bonds to an entertainment arm of tech giant Kakao Corp. The Seoul Eastern District Court granted an injunction filed by SM’s estranged founder Lee Soo-man, barring Kakao Entertainment’s deal to become [...]
SEOUL, Feb. 22 (Korea Bizwire) — Hybe, the K-pop company behind boy group BTS, said Wednesday it has acquired a 14.8 percent stake in its industry rival SM Entertainment to become its largest shareholder. Hybe said in a regulatory filing that it has paid for the purchase earlier than scheduled. On Feb. 10, the companyagreed [...]
SEOUL, Feb. 21 (Korea Bizwire) — Hybe, the K-pop company behind global superstar BTS, achieved its biggest sales ever last year, boosted by the expansion of the global fandom for its artists and successful debuts of rookie groups. The company said in a regulatory filing that it posted 1.77 trillion won (US$1.37 billion) in sales [...]
SEOUL, Feb. 18 (Korea Bizwire) — Hybe, the K-pop powerhouse that is trying to become the largest shareholder of its rival SM Entertainment, once again tried to dispel concerns over suspected offshore tax evasion by SM founder Lee Soo-man on Friday, calling it “a scenario that can never occur.” On Thursday, SM’s co-CEO Lee Sung-soo [...]