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JYP acquires shares of SM’s sublabel, strengthens partnership

This information is attracting attention from the Korean public in general and fans of SM Entertainment and JYP Entertainment in particular.

Recently, Korean media outlet reported that JYP Entertainment has acquired a 23.3% stake in SM’s subsidiary – DearU Co., Ltd.  Thereby, the two leading Korean entertainment companies will strengthen the strategic cooperation relationship.

SM JYP

Specifically, Sports Seoul reported that SM Entertainment and JYP Entertainment will work together to bring “Bubble DearU” into a global mobile platform.

DearU’s core business, ‘DearU bubble’, is a service platform for exchanging special private messages with artists in the form of 1:1 chat. It was launched in 2020, and the proportion of overseas users reached 68%. It has global users as its main customers. This platform is currently providing services with more than 150 artists from 13 companies including SM and JYP.

In August last year, SM and JYP established ‘Beyond LIVE Corporation’ (BLC). It’s a specialized company for the world’s first online-only concert ‘Beyond LIVE’. It seems that the cooperative relationship will be further strengthened.

After the collaboration of YG and Hybe, JYP and SM continue to cooperate in promoting their own development. Obviously, in recent years, large entertainment companies are gradually establishing a network of relationships. They are trying to promote the development of the K-pop industry and attack the global market.  This is a good sign for Kpop when the Hallyu wave has spread not only throughout Asia but also on a global scale!

Source: Sports Seoul

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