Popular Building SMTOWN COEX Artium is likely to be closed - The Artium SMTOWN COEX is likely to be closed due to an income deficit. SM Entertainment and SM C & C have also recently announced a new CEO.
The shocking news comes to fans of all artists who take shelter at SM Entertainment. The reason was recently revealed that the popular building of the SMTOWN COEX Artium was likely to be closed.
In response to a letter sent to the company by KB Asset Management, the third largest shareholder in SM Entertainment with 7.59 percent of the shares, they revealed this shocking news for the first time to the public.
KB Asset Management asked SM Entertainment to combine Lee Soo Man's personal business with SM, 30 percent of dividends, to cover the business of those who had a deficit (loss).
"We are considering stopping the operation of COEX Artium, which has become a K-Pop landmark because it has been visited by millions of fans since it opened in 2015. This is because we received a letter stating that we need to sort out the business we have, which has a deficit," said source from SM Entertainment.
Since its opening in 2015, SMTOWN COEX Artium has become the "home" for all SM Entertainment artist fans ranging from senior idols Kangta and BoA to new generations like Red Velvet and NCT to visit and buy merchandise, albums even meet their idols.
Meanwhile, SM Entertainment and SM C & C also recently announced a new CEO. Kim Young Min, who has been a GM of the SM Entertainment Group, has now been appointed as CEO with Nam So Young. Then CFO Nam Goong Chul was appointed as CEO of SM C & C with Kim Dong Joon.
Source: wowkeren.com
The shocking news comes to fans of all artists who take shelter at SM Entertainment. The reason was recently revealed that the popular building of the SMTOWN COEX Artium was likely to be closed.
In response to a letter sent to the company by KB Asset Management, the third largest shareholder in SM Entertainment with 7.59 percent of the shares, they revealed this shocking news for the first time to the public.
KB Asset Management asked SM Entertainment to combine Lee Soo Man's personal business with SM, 30 percent of dividends, to cover the business of those who had a deficit (loss).
"We are considering stopping the operation of COEX Artium, which has become a K-Pop landmark because it has been visited by millions of fans since it opened in 2015. This is because we received a letter stating that we need to sort out the business we have, which has a deficit," said source from SM Entertainment.
Since its opening in 2015, SMTOWN COEX Artium has become the "home" for all SM Entertainment artist fans ranging from senior idols Kangta and BoA to new generations like Red Velvet and NCT to visit and buy merchandise, albums even meet their idols.
Meanwhile, SM Entertainment and SM C & C also recently announced a new CEO. Kim Young Min, who has been a GM of the SM Entertainment Group, has now been appointed as CEO with Nam So Young. Then CFO Nam Goong Chul was appointed as CEO of SM C & C with Kim Dong Joon.
Source: wowkeren.com
