Former SM executive producer Lee Soo Man opens office in Cheongdam-dong to look for a new way to do music activities?
SM’s ex-executive producer Lee Soo Man is reportedly looking for a new way by opening his personal office.
According to officials in the music industry, Lee Soo Man has set up his personal office in Cheongdam-dong, Gangnam-gu. The office is known to have a different purpose from the private company “Blooming Grace” he established in Seongdong-gu, Seoul earlier in March, which is involved in new technology and real estate sales and leasing. It also has nothing to do with “LeePollux”, Lee Soo Man’s business related to drones, and the music publishing company “Culture Technology Group Asia”.
On June 27th, a senior K-pop official who recently met with Lee Soo Man said in a phone call with Sports Seoul, “He has set up an office in Cheongdam-dong and met with several acquaintances. He looked healthy, but he was reluctant to talk about his future plans.”
Earlier in February, Lee Soo Man stepped down as the largest shareholder of SM after selling the 14.8% SM share he owned to HYBE for a total of 430 billion won per share. Lee Soo Man sent a letter to the media in March, saying “Today marks the end of an era of SM Entertainment, which was founded in my name. The Korean music industry should evolve beyond K-pop and enters the global music world”.
Because of that statement, there are speculations that Lee Soo Man may be planning to return to the music business. According to reports, Lee Soo Man asked HYBE to remove the clause that allows him to carry out producing work overseas only for the next three years after selling his shares to HYBE.
Some say that the office in Cheongdam-dong may serve as a base for Lee Soo Man to recruit employees. Several industry insiders spread the rumors that senior officials from SM also expressed their intention to work with Lee Soo Man.
Not only officials in the music industry but employees under SM’s label SM C&C are also said to be considering changing sides. A source said, “Nothing has yet to be confirmed, but anything can happen. We need to wait and observe the situation further.”
Source: Nate
