SM Entertainment, one of the biggest entertainment companies of South Korea, revealed their plans to launch a new boy group and girl group in 2020.
On September 24, The Korea Economic Daily reported its recent interview with SM Entertainment's co-CEO Kim Young-min.
During the interview, Kim Young-min talked about the company's recent dispute with its shareholders, as well as plans for the rest of 2019 and 2020.
Kim Young-min said, "Our company's projects are mostly centered around the latter half of this year. We sold about 1.27 million albums in the first half of this year, surpassing the figure from July to August alone."
He continued, "When EXO, NCT, and Red Velvet release their full albums later this year, there will be no problems seeing an increase in annual album sales. We also plan to debut a new boy group and a new girl group next year."
Earlier this summer, one of SM Entertainment's major shareholders (KB Asset Management) sent a letter to the company requesting some changes to their shareholder return policies and business models.
However, SM Entertainment responded by rejecting some parts of the requests and putting others "under consideration."
(Credit= SM Entertainment, Yonhap News Agency)