On March 11, Big Hit Entertainment and CJ ENM officially announced that they have established a joint venture named Belift Lab, aiming to introduce a new K-pop boy group next year.
Belift Lab, which was built with captial stocks of 7 billion won (approximately 6,164 dollars), will be hosting rounds of auditions to recruit members for the upcoming boy group.
Starting on March 30, the audition will take place in South Korea, the United States, Japan, and other foreign countries.
The partnership will combine Big Hit Entertainment's expertise in both domestic/global music scenes with CJ ENM's expansive business sectors for broadcasting, concert organization, and record circulation.
Belift Lab's CEO Kim Tae-ho said, "The main part of our business is entertainment and media based on intellectual property rights. As it is a project led by the nation's top content and entertainment firms, we will come up with results that live up to the expectations of the market."
(Credit= Big Hit Entertainment, CJ ENM/Yonhap News Agency)