Cancel Acquisition, SM Entertainment Artist Will Join HYBE's Weverse

JAKARTA - The collaboration between SM Entertainment and HYBE continues despite the acquisition process being canceled. They announced that the fan community of SM Entertainment artists will be available via Weverse, HYBE's app.

Today, Monday, April 17, SM Entertainment stated, "Starting in the second half of this year, we will open up an official community for each of our artists on Weverse and manage fan clubs through membership to interact with fans."

The fan community in question is the community page that was previously named Kwangya Club. This community contains the latest information from SM Entertainment artists and their activities shared officially by the agency.

Now, fans can follow the latest news from SM Entertainment artists through the Weverse application. This is different from the messaging service created by SM called DearU Bubble.

"Through private messaging services and the fandom Weverse platform, we are realizing 'SM 3.0", said SM.

In addition, SM will also join Weverse Shop, an e-commerce service where agencies can sell albums and merchandise. Later this product will also be available in other online stores next to SMTOWN &STORE.

Previously HYBE announced the acquisition of SM Entertainment by buying shares of its founder, Lee Soo Man. This decision was against SM Entertainment officials until SM CEO released the SM 3.0 plan.

Moments later, HYBE canceled the acquisition. But now HYBE is working with SM Entertainment.

Two companies reached an agreement, said HYBE, who declined to explain information about their collaboration.

SM Entertainment is an agency company that houses several singers and groups as well as entertainment actors and actors such as BoA, Super Junior, SHINee, Girls' Generation, EXO, Red Velvet, NCT, and many others.

Meanwhile, HYBE houses several agencies that have artists such as BTS, Tomorrow X Together, ENHYPEN, NANA, SEVENTEEN, ZICO, LE SSERAFIM, NewJeans and others.