SM Entertainment has established a strategic partnership with FNC Entertainment. SM now owns 31% of FNC Add Culture, making them the largest shareholder followed by FNC Entertainment, which owns 18%.
Both companies have a huge presence in the Korean entertainment business and therefore, their partnership is expected to produce extraordinary synergy.
For instance, they’ll be able to strengthen their general influence on the production of variety shows with Yoo Jae Suk, Kang Ho Dong, and Shin Dong Yup all under the same partnership.
Entertainers managed by SM Entertainment and FNC Entertainment include Yoo Jae Suk, Kang Ho Dong, Jun Hyun Moo, Shin Dong Yup, Jung Hyung Don, Lee Su Geun, etc.
With all of these stars under the same roof, the empire will be unstoppable!
In addition, with the 10 billion won (approximately $9.4 million USD) raised through the issuance of new stocks, on top of the 20 billion won (approximately $18.8 million USD) in cash holdings, they can now focus on new businesses and expand further overseas.
They plan to aim for global lifestyle businesses including retail, F&B, fashion, and leisure and are expecting to create partnerships with global corporations.