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In 2015, SM Entertainment was located in the SMTown entertainment complex in Seoul, South Korea. SM Entertainment declined to say how much the company is investing in its Southeast Asian expansion, but said it is “hiring more local talent, which will hopefully increase the overall-time head count.”
Sung Joon Cho | Bloomberg | Getty Images
South Korean entertainment company SM Entertainment will set up its Southeast Asia headquarters in Singapore as part of its expansion plans in the region.
The company confirmed its hiring plans in Singapore in an email to CNBC.
In an interview with CNBC Dialogue last month, SM Entertainment founder Lee Soo-man said the company recruits and develops talent through a “cultural technology” system he developed, through which potential singers and dancers go through four stages: Casting, training, marketing/management and production.
Lee added that he would be keen to create a K-pop group NCT Singapore if given the opportunity, but it is unclear if plans are in the works.
The Singapore headquarters will also “manage joint ventures in Indonesia, Vietnam and Thailand, and work with [its South Korea office] For other related businesses and programs. “
SM Entertainment declined to say how much the company is investing in its Singapore expansion, but said it is “recruiting more local talent, which is expected to increase the number of full-time employees.” The company is also “considering local undergraduates or recent graduates for internships.” .
In addition to this, the company also plans to launch retail operations in Singapore, including cafes, merchandise stores and pop-up stores.
Wider expansion in Asia
SM Entertainment told CNBC that it plans to slowly expand not only to the rest of Southeast Asia, but also to the wider continent, including the Middle East.
The company’s Indonesian arm has landed endorsements such as Mie Sedaap and Sasa for Choi Siwon of K-pop boy group Super Junior and Somethinc and Lemonilo for NCT Dream.
As for future K-pop group plans, Lee told CNBC that SuperM will announce a comeback in early 2023. He also plans to create new groups or subunits – NCT Saudi and NCT Tokyo.
yonhap news agency However, it was reported in October that SM Entertainment would terminate its contract with Soo-Man Lee and his music production company, Like Planning. The production contract is set to end on December 31. Lee Soo Man remains the largest single shareholder of publicly listed SM Entertainment.
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