JYP Acquires Shares in SM’s Subsidiary + Strengthens Partnership

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It is reported that JYP Entertainment has acquired 23.3% of shares from SM’s IT subsidiary ‘DearU,’ which was owned by SM studios.

 

Last month, JYPE bought 9.1% of shares in DearU. And According to a report by Financial Supervisory Service, an additional 14.1% of shares are bought this Friday for approximately 21.4 Billion Won in total.

 

DearU Bubble is a crucial service by DearU, where fans & idols can exchange private message. More than 150 artists from various agencies, including SM & JYPE, are available on this service. 68% of the users of this service are from outside of South Korea.

 

SM & JYPE to be working together on developing this fan service mobile platform ‘DearU Bubble.’

 

What’s your opinion on this? Let us know in the comments.

 

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Written by Lasya Pusuluri 

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