SM sells Kim Sung-hyung and Han Seon-hwa Company Key East...Focus on your main job like YG
Feb 17, 2025
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To this end, SM announced on the 17th that it has selected Cheongdam Investment and KNT Investment as preferred negotiators. The sales manager is Anjin Accounting Corporation.
SM said "SM Studios, a subsidiary (the largest shareholder of Key East), will negotiate with the preferred bidder on major contract terms and conditions."
Key East includes Kang Han-na, Kim Seo-hyung, Bae Jeong-nam, Chae Jung-an, and Han Seon-hwa.
KeyEast's largest shareholder is SM Studios, which has a 28.38% stake, according to its Q3 quarterly report last year. SM Entertainment Japan, SM's Japanese unit, also holds a 5.33 percent stake in KeyEast.
SM is expected to sell all of its 33.71 percent stake in KeyEast owned by these subsidiaries. It is interpreted that SM, which celebrates its 30th anniversary this year, will organize its non-core assets and stick to its main business, album and music production, and singer management.
SM Co-CEO Jang Chul-hyuk announced his fourth quarter earnings on the 10th, saying, `We will continue to be a company that is faithful to the basics and consistently strives.'
YG Entertainment (hereinafter referred to as YG), a music agency, also announced its intention to end the actor management business and focus only on the music business. YG announced on the 17th of last month that it will reorganize its business structure to focus on its main job, music, and as part of that, it will end its actor management work. Actors Kim Hee-ae, Cha Seung-won, Yoo In-na, Su-hyun, Lee Sung-kyung, Jang Ki-yong, and Son Na-eun, who belong to YG, will leave YG in time for the end of their contracts.
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