(originally posted as: SM Entertainment establishes first overseas joint venture SM True with Kangta as director, performances by SHINee)
On August 16, it was announced that SM had established their first overseas joint venture. "SM True Co. Ltd" (to be abbreviated SM True for the purposes of this article) is SM Entertainment's newest venture, shared with Thailand's True Visions Group.
A press conference and signing ceremony were held on August 16 in Bangkok, Thailand. Due to the overflowing interest from fans and the local media, the press conference had two parts: The first catered to media like Daily News and the Bangkok Post, while Channel V, The Music Channel 3579, Seventeen Magazine, and other Thailand entertainment outlets were privy to the second part.
SM Entertainment's Kim Youngmin will take on the role of CEO. At the conference, he stated that SM True had been established as a joint venture with True Visions Group, which is Thailand's biggest distribution source. The joint venture will allow SM Entertainment to distribute their wide range of compelling content faster and more effectively, with the help of True Vision Group's advantageous powerful network infrastructure.
SM True will handle distribution through broadcasts and Internet, concerts, and promotions for SM Entertainment's artists in Thailand. SM True will take on the role of a local management label, identifying talent, developing, and debuting new artists.
Starting with the SM True joint venture in Thailand, SM Entertainment aims to increase their distribution and thus their visibility not only in Asia, but on a worldwide scale. According to CEO Kim Youngmin, they plan to implement their business model so that they can further expand later on.
Those in attendance were able to see Kangta, who attended as SM True's director. At the conference, he stated that he appreciated the new challenge: While he has previously only worked in the capacity of a Hallyu star, he will take on a brand-new management role as SM True's director. His new role will require him to use his previous experiences and expertise in the industry in order to contribute to the development of SM True.
Source: Newsen, Koreaboo
- Justin -