Some fans of SM held a truck protest at HYBE’s office building in light of the dispute of SM’s management rights.
Photos of the truck protest that took place for about 8 hours at HYBE’s office building in Yongsan-gu, Seoul on February 27th have recently spread around online communities and social media.
The object of criticism of the text on the truck’s electronic signboard was Lee Soo Man and HYBE.
“Interpol wanted Lee Soo Man, just plant trees. Don’t covet SM 3.0.”, “K-Pop Genius HYBE, take care of your XX, we take care of our XX”, “A crazy company that spends 10 billion won on Lee Soo Man’s tree planting, that’s HYBE”, etc. Using harsh expressions, the fans referred to themselves as “numerous SM fans” and “all SM fans who oppose HYBE’s monopoly.”
On February 27th, these fans directly revealed the reason for the protest to the media. They became closer with the commonality of liking SM artists, and expressed their deep fan sentiment, saying that they have enjoyed SM artists’ songs since they were young.
However, as the internal dispute over SM management became serious, Lee Soo Man, SM’s former general producer, sold his shares to HYBE, SM’s rival. The fans criticized Lee Soo Man for “being blinded by greed.”
At the same time, the fans revealed that the reason for the truck protest was because they wanted to support after seeing the content of SM 3.0 announced by SM.
On the other hand, on February 9th, HYBE acquired 14.8% of the 18.46% stake in SM owned by SM founder and largest shareholder, former general producer Lee Soo Man, and became the sole largest shareholder of SM.
Source: Naver.
