HYBE officially became the largest shareholder of SM Entertainment as of February 22, 2023. With the contracts stamped and signed, HYBE’s CEO Park Ji Won published a lengthy open letter to fans, employees, and shareholders of SM Entertainment.
As the acquisition was highly worrying for many existing fans and employees, Park Ji Won reassured everyone once more through the open letter that they would fully respect the decisions of SM Entertainment and its plans for SM 3.0.
They explained how the label would be able to help SM Entertainment grow.
To the artists affected, he also promised that they would do their best to create a brighter future for all of them.
It seems that fans are still on the fence about this move. Many are concerned about the freedom of the company.
— 밍구야 그림 너무좋다 🌹 (@dindinowo) February 22, 2023
On the other hand, others are confident that SM Entertainment will continue to shine and retain their creative autonomy under HYBE.
— lily thee fan account 🪞 (@krystaIs) February 22, 2023
SM Entertainment Share Acquisition
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- HYBE’s CEO Pens An Open Letter To Fans, Shareholders And Employees Of SM Entertainment After Officially Becoming The Largest Shareholder
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