SM Entertainment sets up headquarters in SG, plans to open retail business

SM Entertainment sets up headquarters in SG, plans to open retail business

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South Korean entertainment company behind bands such as Super Junior and Girls’ Generation, SM Entertainment, is setting up a headquarter in Singapore. The group also plans to open up a retail business in Singapore, which would comprise cafes, merchandise stores and pop-up exhibitions.

In a confirmation to CNBC, the company said it was recruiting staff for the Singapore office and shared that it would be hiring local talent. However, it did not share the investments made into the Singapore. The report added that the Singapore office would oversee ventures in emerging markets such as Indonesia, Thailand and Vietnam. The group is also looking to grow in the wider Asia markets and the Middle East as part of its expansion plan.

Meanwhile, SM’s founder Lee Soo Man has expressed his interest in potentially creating a new NCT Singapore group. Recently, Amazon Prime Video also said that it will be creating a documentary all about SM Entertainment’s founder Lee Soo Man.

However, in October, Yonhap News Agency said that SM Entertainment would be severing its ties with Lee at the end of the year. According to the report, SM said its board of directors decided to terminate a production license contract with Like Planning, a music production company owned by Lee as investors criticized the two companies of having dubious ties.

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