Former CEOs of SM and YG, which have solidly established themselves as top entertainment companies, are continuing their careers at odds with each other.
Lee Soo Man, general producer, established SM Entertainment in the past and led K-pop idols’ heyday by launching legendary groups such as H.O.T., S.E.S, TVXQ, Super Junior, and EXO.
SM solidified its reputation as one of the top 3 entertainment companies in Korea, and in the process, Lee Soo Man was there as a CEO and producer. He became an indispensable figure in the history of SM, entertainment, and idols.
However, SM is now preparing to say goodbye to Lee Soo Man. On Feb 3rd, SM announced the ‘SM 3.0 Era’, a production system without Lee Soo Man, and made Lee Soo Man’s resignation official.
Lee Soo Man’s shares were also quickly acquired. Kakao secured his shares and rose to become the second largest shareholder of SM. Lee Soo Man’s side rebelled against the situation in which the largest shareholder could change, calling it an “obvious illegal act” and hinted at an internal fight.
On the other hand, YG Entertainment, one of the three major entertainment companies, is expecting a turning point with Yang Hyun Suk‘s return.
Yang Hyun Suk withdrew from YG in 2019 due to controversies, from Seungri’s Burning Sun case to B.I’s drug investigations. He announced his return after about 3 years and 6 months and put the debut of Baby Monster to the fore.
The public is divided over Yang Hyun Suk’s comeback. There is still negative public opinion about whether it is right for him to come back after giving such a big blow to the company.
However, as he was found not guilty of threatening informants to cover up B.I’s investigation into drug charges, many people expect his outstanding production sense as he is the father of Big Bang, 2NE1, BLACKPINK, WINNER, and iKON.
At a time when anticipation for Baby Monster’s debut is heating up, it is of great interest whether Yang Hyun Suk will successfully establish himself as a producer again.
Lee Soo Man and Yang Hyun Suk have exerted a great influence on Korea’s music industry to date. Their positions within SM and YG have changed, but as they are expected to dominate the flow of K-pop in the future, attention is drawn to the two’s next moves.
Source: daum
