Through the workplace review app Blind, a HYBE employee revealed that they attended a recent conference held regarding the situation of HYBE and SM Entertainment.
Many fans are worried about the fate of SM Entertainment after HYBE officially became the largest shareholder in the company after buying shares of Lee Soo Man. On the other hand, HYBE employees recently shared details about the conference held to discuss the situation and expressed things that might be different from what everyone thinks.
Through the workplace review app Blind, a HYBE employee revealed that they attended a recent conference held regarding the situation of HYBE and SM Entertainment. They learned that Lee Soo Man had cut all ties with SM and HYBE would not interfere in the company's affairs.
A HYBE employee wrote, "I went to a HYBE x SM related conference today. I was at the conference! In short: Lee Soo Man won't have any management rights. He won't be getting any royalties. He won't be earning anything. He's basically done it." hands off and left."
The employee continued, "And HYBE said they have no interest in meddling in SM's affairs. HYBE is already a multi-label. They will guarantee autonomy for SM. They acquired SM because they believed combining HYBE and SM would be synergistic. That's what they mentioned today." This."
In comments responding to the post, employees from both companies expressed relief that there would be no crossover. A HYBE employee even pointed out that the many people in charge are already busy managing all the HYBE artists from the sub-label.
"If we take the statement at face value, then it won't be so bad," said an SM employee. "What a relief," wrote a HYBE employee. "Yes. Si Hyuk, Seong Su, Hee Jin, and Sung Jin have been very busy. They don't have time to produce artists from labels. They will respect SM Entertainment's legacy and let them make their own music," added another HYBE employee.
The HYBE employee explained that CEO Park Ji Won held a conference to clear up speculation about the matter. One employee wrote, "Brief. They explained everything in less than ten minutes, and it's done. They emphasized that Lee Soo Man will absolutely not participate in business management. They also said he will not get royalties. HYBE will not produce anything." They didn't have the resources to turn things around for SM, in fact they weren't even interested in doing that.
"The conference was very direct," commented another HYBE employee. "The CEO of HYBE also mentioned that he held the conference in a bit of a hurry because he realized how much nonsense and speculation had started circulating over the past few days. He wanted to clarify everything as soon as possible," added another. (wk/goddess)
