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The report shows SM Entertainment Already paid Li Xiumanof LIKE Holdings In the past 10 years, it was 130.8 billion won, accounting for about 35% of the operating profit of small and medium-sized enterprises.
On February 18, the Enterprise Data Analysis Research Institute Leadership Index SM Entertainment revealed that from 2013 to the third quarter of 2022, the cumulative operating expenses of LIKE Holdings amounted to 130.8 billion won (about 100 million U.S. dollars).
LIKE Holdings is Lee Soo Man’s private company that provides “music consulting and production services” to SM Entertainment.
The Leadership Index states that, “The three-year average operating profit margin of SM Entertainment is 5.9%, which is lower than HYBE (16.7%), YG Entertainment (7.7%), and JYP Entertainment (29.5%). If it were not for the expenses paid for LIKE, the operating profit would increase by 35% above.”
Before, Suspected of “dispatching” Lee Soo Man has earned over 744.3 billion won ($570 million) in revenue over the past 23 years since SM Entertainment’s IPO. But in 2021, SM Entertainment’s annual operating profit will be 74 billion won, even with sales peaking at 417 billion won. Back then, Lee Soo Man received 24 billion won in production costs alone.
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