On Friday, SM Entertainment ("SM" or the "Company") (KRX:041510) announced that all agendas proposed by the Company's Board of Directors(BOD) were approved by its shareholders at the 28th Annual General Meeting of Shareholders(AGM) held at SM headquarter in Seongsu-dong, Seoul. With this, the foundation has been laid for implementing the SM 3.0 strategy, an essential element for the Company to move forward to a fan and shareholder-centered global entertainment company.
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South Korea's largest music label HYBE, which manages hit boy band BTS, will announce a "substantial number of acquisitions and investments" this year as the K-pop giant looks to boost its U.S. presence, its chairman said on Wednesday. The company's efforts to expand its portfolio of music labels and fan community platforms come after HYBE on Sunday withdrew its plan to take over rival label SM Entertainment after a weeks-long battle with social media giant Kakao.