HYBE recently joined hands with SM Entertainment‘s founder, Lee Soo Man, in his battle against his former company. HYBE announced plans to buy up the shares that Lee Soo Man was planning to sell, effectively taking Lee Soo Man’s side in the feud. This was a huge blow to the current management of SM Entertainment and Kakao, who recently bought shares in the firm.
Due to the power of both firms, it was predicted by HYBE CEO Park Ji Won that if the two labels merged, they would be on par with some of the world’s largest music labels such as Warner Music or Sony. Despite this, fans and employees of both companies were highly concerned about the future of HYBE and SM Entertainment. In a company-addressed speech on February 13, 2022, Park Ji Won reassured his employees.
He declared that SM Entertainment’s unique color would be preserved, even if the labels were merged. Park Ji Won stated his respect for SM Entertainment’s legacy and the fandoms’ dedication and love for SM Entertainment’s unique essence. The essence of K-Pop after all, is the fandom business.
This loss of color and legacy was also a huge concern on the side of SM Entertainment employees as 85% were stated to have been worried about this through the…