Latest news with #LeeSoo-man
Korea Herald
a day ago
- Entertainment
- Korea Herald
Industry eyes shift in Beijing's hallyu ban as K-pop activity surges in other Chinese-speaking regions
Hybe launches China branch amid rising hopes of hallyu ban easing in mainland China Hybe, the world's largest K-pop powerhouse and home to BTS, has officially launched a Chinese branch in Beijing, prompting speculation about a possible thaw in China's yearslong restrictions on Korean pop culture under what is commonly called the hallyu ban. Hybe China was incorporated on April 2, the company confirmed Wednesday, marking its fourth overseas branch after those in Japan, the US and Latin America. With the new office's role limited to supporting Hybe artists and future activities in mainland China, the company said it currently has no plans for an audition program or a new idol group in China. Hybe's other overseas branches, by contrast, have developed original groups for the respective local markets. SM, YG and JYP Entertainment — the other three major K-pop agencies often grouped with Hybe as the 'Big Four' — already operate Chinese subsidiaries. In 2019, SM debuted WayV — a Chinese unit of its boy group NCT — while JYP launched the Chinese boy band Boy Story the year before. SM founder Lee Soo-man also produced a new Chinese girl group, A20 May, in December — the first group he created after leaving SM. The establishment of Hybe China is seen by some in the industry as a sign of growing optimism that the hallyu ban may be easing. The ban, unofficially imposed by China in 2016 as diplomatic tensions heightened between the two countries, effectively blocks Korean entertainment content from mainstream platforms on the mainland. K-pop activity has recently surged in other Chinese-speaking regions. In March, Hybe subsidiary Ador's girl group, NewJeans, performed at ComplexCon Hong Kong, while SM's NCT 127 held sold-out shows in Taiwan, Macao and Hong Kong as part of its 'Neo City – The Moment' tour the same month. Still, experts remain skeptical that these developments indicate a full reopening of the mainland market. 'I indeed heard about the loosening of the hallyu ban. However, I don't think having K-pop concerts in Hong Kong, Macao and Taiwan is a signal for this,' a Chinese journalist told The Korea Herald on condition of anonymity. 'The hallyu ban is only in effect on the mainland.' A senior official at one of the major K-pop agencies acknowledged the appeal of the mainland Chinese market — the world's fifth-largest music market, but described it as a high-risk, high-reward proposition. 'There's some hope around President Xi Jinping's expected visit to South Korea later this year. But realistically, there's little we can do at this moment,' the official said Thursday. 'Even if things open up, political tensions could shut the door again at any time. It's a big market with major opportunities, but the risks are just as high.'
Korea Herald
4 days ago
- Business
- Korea Herald
Tencent becomes SM's No. 2 shareholder
Hybe sells full stake to Tencent unit in W243b block deal Hybe is selling its entire stake in SM Entertainment to Tencent, positioning the Chinese tech giant as the K-pop agency's second-largest shareholder and ending a fraught chapter between the two rivals. According to a regulatory filing Tuesday, Hybe will offload about 2.21 million shares to Tencent Music Entertainment Hong Kong, a Tencent subsidiary, via an off-hours block trade Friday. The shares are priced at 110,000 won each, valuing the deal at roughly 243.35 billion won ($176.7 million). Tencent will replace Hybe as SM's second-largest shareholder with a 9.66 percent stake. Korean IT giant Kakao remains the largest shareholder, with 41.5 percent through itself and its content arm, Kakao Entertainment. Hybe said the divestment is part of efforts to streamline its portfolio and enhance investment efficiency. 'We are streamlining noncore assets to focus on our main business,' the company said. 'Proceeds from the sale will be used to drive future growth initiatives.' The deal also marks the end of an uneasy alliance stemming from Hybe's failed takeover attempt of SM. In early 2023, Hybe bought a 15.78 percent stake, including 14.8 percent from founder Lee Soo-man, amid an ownership battle between Lee and SM executives. Despite investing about 550 billion won in its bid, Hybe was ultimately outmaneuvered by Kakao. Hybe has since trimmed its holdings and is now exiting at a modest gain, according to reports. Analysts see Tencent's entry as a potential tailwind for SM. 'SM shares have been stuck in the 120,000 won range due to overhang concerns (from Hybe's stake), and it's positive that this risk is being removed,' said Jie In-hae, an analyst at Shinhan Securities, who raised her target price for SM to 160,000 won from 130,000 won. Tencent's backing could also reinforce SM's activities in China, as expectations grow over a potential easing of Beijing's tacit ban on Korean pop culture. Tencent already holds stakes of about 6 percent in Kakao and 4 percent in Kakao Entertainment through subsidiaries, and has longstanding ties with Korean labels through distribution and investment. 'With its new stake in SM, Tencent is likely to strengthen collaboration among the entertainment companies it has invested in,' said Choi Min-ha, an analyst at Samsung Securities. 'Once the Chinese market reopens, SM could be one of the biggest beneficiaries.'
Korea Herald
11-05-2025
- Entertainment
- Korea Herald
SM founder's Chinese girl group 'A20 May' enters US, China charts — marking start of global push
Group's debut single, "Under My Skin," lands at No. 39 on US Mediabase chart — a first for a Chinese girl group A20 May, a new Chinese girl group launched by SM Entertainment founder Lee Soo-man, is quickly gaining global traction, breaking into music charts in both China and the US ahead of its scheduled performance at the 102.7 KIIS FM Wango Tango festival Sunday. The multinational group will be the first Chinese act to perform at the well-known festival in Huntington Beach, California, which this year features artists such as Doja Cat, Meghan Trainor and David Guetta. A20 May's second single, 'Boss,' released April 25, recently entered the No. 8 spot on the Hot Song Chart of QQ Music, China's largest music streaming platform. It also topped the platform's New Song Chart, where it debuted at No. 1 and has remained in the upper ranks — helping it break into the platform's main Top 10 chart. 'Boss' is also gaining attention in the US, where it entered the Mediabase Top 100, a key mainstream radio chart. Following the success of debut single 'Under My Skin,' which peaked at No. 39 on the same chart, A20 May has become the first Chinese act to have two songs in the Mediabase Top 100 at the same time. The music video for 'Boss' has surpassed a combined 60 million views across Weibo and YouTube, demonstrating the group's growing global reach and the appeal of their signature "Zalpha Pop" sound. Zalpha Pop, a term introduced by Lee, is a genre that blends Gen Z and Alpha Generation sentiments. A20 May is produced under A20 Entertainment, led by Lee as key producer and visionary leader. The group's concept centers on Zalpha Pop, which aims to reflect the unique spirit of a new generation and foster a deeper cultural connection with fans worldwide. Following their successful debut in December, A20 May returned in April with 'Boss,' showcasing a refined yet powerful charisma. The track features punchy drums and siren-like synths that build tension, layered with playful sonic textures that add intrigue.
Korea Herald
09-04-2025
- Entertainment
- Korea Herald
Absence of true leader? SM Entertainment faces internal rifts in 30th year
'company operates under "center system" — more like factory without leader,' expert says This year marks SM Entertainment's 30th anniversary — a major milestone for the K-pop powerhouse founded in 1995 by producer Lee Soo-man. The company launched various commemorative projects to mark the occasion, including an SMTown Live 2025 concert in Seoul in January, a compilation album titled '2025 SMTown: The Culture, the Future' in February and the debut of a new girl group, Hearts2Hearts, in the same month. However, 2025 is turning out to be a year of crisis rather than celebration. Instead of reinforcing its legacy, SM Entertainment has found itself embroiled in a string of controversies involving veteran artists — many of whom have spent over a decade with the agency. Industry insiders point to the company's lack of centralized leadership following Lee's departure in 2023, and its shift to a 'center system' that some say has left artists feeling neglected. In January, several long-standing artists, including Girls' Generation's Taeyeon, Red Velvet's Wendy and Super Junior's Yesung, publicly voiced frustration over SM Entertainment's handling of the anniversary concert. Taeyeon revealed on fan communication platform Bubble that she had planned to perform two to three songs, but was not given sufficient support from the company. Both she and Wendy ultimately pulled out of the concert. SM Entertainment attributed their absence to 'personal reasons,' but the withdrawals hinted at deeper internal issues. The tensions did not stop there. In March, INB100 — the agency representing EXO's Xiumin for his solo career — accused SM Entertainment of pressuring local broadcaster KBS to exclude the singer from 'Music Bank.' While Xiumin remains signed to SM for EXO's group activities, the agency claimed SM's interference was hindering his solo promotions. The move drew backlash and revived memories of previous disputes involving SM, including the long-standing legal battle with TVXQ and JYJ in 2009. On Friday, SM Entertainment also confirmed the departure of Red Velvet's Wendy and Yeri, stating only that it would 'support their new journey ahead.' While it is common for idols to part ways with their original agencies after pursuing solo careers, Wendy had previously voiced dissatisfaction with the company — suggesting the departures may have stemmed from more than a routine contract expiration. Stephanie Choi, a postdoctoral researcher at the Asia Research Institute at the University of Buffalo, pointed to the absence of strong leadership as SM Entertainment's key challenge. 'In the past, SM Entertainment was led by Lee Soo-man, whose strong intuition for successful productions earned the trust of both artists and fans,' Choi, whose research fields include popular music culture and K-pop, told The Korea Herald on Wednesday. 'They followed him because they believed in his vision, and the results proved them right.' 'Now, the company operates under a 'center system' — more like a factory without a branded leader. Some centers perform well, while others don't. These are managed by employees, and from the artists' perspective, there's no longer the same trust in the decision-making process," she added. The 'center system,' adopted by SM Entertainment in 2023, is a multiproduction structure that divides the company into separate creative units or 'centers' — each responsible for managing different artists and content, with the aim of enhancing autonomy, efficiency and diversity in production. Music critic Kim Yoon-ha echoed the sentiment, though she noted that veteran artists seeking independence after a decade with a label is not uncommon. 'There are many idols within SM who've been under contract for over 10 years. That naturally leads to a stronger desire for autonomy,' said Kim. 'Artists like Xiumin or Wendy, who are departing or seeking different paths, have each worked under the company for more than a decade. If these cases involved younger idols only a few years into their careers, it might be seen as unusual — but long-serving artists have good reason to want change." 'Still, Lee Soo-man's absence is significant,' she added. 'He was the one who discovered and nurtured these artists. And there's growing frustration around the center system. There appears to be a gap in artist care — a sense of neglect. Both Taeyeon and Wendy alluded to this on Bubble.'
Korea Herald
05-03-2025
- Entertainment
- Korea Herald
Lee Soo-man's ‘Zalpha pop' and Chinese girl group
Is it a new genre by K-pop pioneer or a strategy to enter Chinese market? Lee Soo-man, the founder of SM Entertainment and often referred to as the 'father of K-pop,' is back with a bold new vision -- introducing 'Zalpha pop' through A20 Entertainment, which has offices in California, the US, Japan, Singapore and South Korea. His latest project, A20 May — a group consisting of two Chinese Americans and three Chinese members — debuted in December, signaling not only an effort to pioneer a new musical genre but also a strategic push into the Chinese market. Given Lee's long-standing ambition to penetrate China's entertainment market and contractual agreements that prohibit him from working in the Korean entertainment industry for three years, many are asking whether Zalpha pop is a new genre or simply a rebranded K-pop aimed at circumventing his domestic restrictions. What is Zalpha pop? Zalpha pop is a term Lee coined to represent a musical movement targeting Generation Z, born in the late 1990s to the early 2000s, and Generation Alpha, born in the 2010s. However, despite the ambitious branding, A20 May has yet to present a distinct musical identity that differentiates it from K-pop. A20 May's debut single 'Under My Skin (A20),' released on Dec. 20, was an English cover of TVXQ's 'Mirotic.' Similarly, a video featuring A20 Rookies' subunit LTB (Low Teen Boys), released last November, was a Chinese cover of H.O.T.'s legendary track, 'Candy.' Critics remain skeptical of the concept. 'There's no original music or content yet that defines 'Zalpha pop,'' pop critic Kim Do-heon said Tuesday. 'It feels more like a branding exercise, similar to how Lee introduced different conceptual subgenres in the past, such as during the launch of NCT.' Another music critic, Lim Hee-yun, was more critical of the term. 'This isn't a groundbreaking concept. The name itself feels lazy and outdated. If the goal is to look toward the future, why frame it around Gen Z, when even they are no longer the youngest generation? A more forward-thinking approach would be to focus solely on the Alpha generation and beyond,' Lim said. A workaround for Lee's non-compete clause? Lee's rebranding of K-pop as Zalpha pop has also raised speculation that he is navigating around a non-compete clause he signed with Hybe in 2023. In selling his 14.8 percent stake in SM Entertainment, Lee reportedly agreed to a three-year restriction on producing music in Korea that would be in place until early 2026. A20 Entertainment is headquartered in Singapore, with branches in the US, Japan and China — avoiding direct involvement in the South Korean market. All of A20 Entertainment's trainees and newly introduced groups appear to be composed of non-Korean nationals, leading to speculation that Lee is focusing on overseas markets to avoid the contractual restrictions. 'This setup allows him to continue producing idols without technically violating the non-compete clause. But if these artists debut abroad and later begin promoting in South Korea, it will blur the line of whether this violates the agreement,' a local entertainment official said on condition of anonymity. Why Chinese girl group? The K-pop mogul's decision to launch a Chinese girl group aligns with his long-standing ambition to tap into the Chinese market. For over two decades, he has worked toward building a presence in China, previously introducing Chinese-focused subunits such as Super Junior-M, EXO-M and WayV under SM Entertainment. 'A20 May is a continuation of Lee's long-term strategy to break into China, a market where K-pop has yet to fully establish itself as a dominant force,' pop critic Kim said. 'He sees China as an untapped market with vast potential and a personal goal to achieve.' Music critic Lim echoed similar sentiments, saying that China's massive consumer base and digital landscape align with Lee's interest in integrating entertainment and technology. 'Lee has always been fascinated with merging entertainment with tech, and China provides the ideal environment for both production and consumption,' Lim said. 'Establishing a foothold there makes sense (for Lee) as part of a larger global expansion strategy.'
