SHINee Key mentions SM’s current situation, “The company is going through a lot…”
SHINee member Key talked about the chaotic situation inside his agency – SM Entertainment.
At 5 p.m. on February 13th, Key hosted a countdown live broadcast one hour before the release of his second full-length repackage album “Killer” on Youtube and SHINee’s TikTok channel.
During the livestream, Key answered several questions sent by fans through the comment in real-time. As Key held his first offline concert after 3 years and 8 months in October last year, a fan asked whether he wanted to do an encore concert. In response, Key said, “I also wish I could do it”.
“Who should I ask to have an encore concert now? I’m the person who would like to do it more than anyone else…”, Key said then suddenly hesitated for a while.
Key sighed and added, “I don’t know. The company is going through a lot…”, indirectly mentioning the chaotic situation in SM.
HYBE’s acquisition of SM shares is currently the biggest issue in the music industry. On February 10th, Bang Si Hyuk’s HYBE signed a contract to acquire 14.8% SM shares from Lee Soo Man with 422.8 billion won and became the largest shareholder in SM. Kakao, which previously secured 9.05% shares with 217.1 billion won, is the second-largest shareholder.
Regarding the cooperation of HYBE and Lee Soo Man, Kakao and SM’s current co-CEOs stated, “We are against the privatization of specific shareholders/powers”.