On February 10, HYBE announced the purchase of 422.8 billion won (approximately 334.6 million dollars) shares―a 14.8 percent stake in SM Entertainment.
The shares were held by Lee Soo-man, founder of SM Entertainment; he previously held a 18.46 percent stake in SM Entertainment.
HYBE is home to globally-popular K-pop acts such as BTS, SEVENTEEN, TOMORROW X TOGETHER, ENHYPEN, LE SSERAFIM, NewJeans and more, while SM Entertainment is one of the country's top K-pop agencies that manages K-pop acts like Super Junior, TVXQ!, Girls' Generation, SHINee, EXO, Red Velvet, NCT, aespa and more.
This purchase makes HYBE the SM Entertainment's largest shareholder as well as leader in K-pop.
![SM Entertainment](http://img.sbs.co.kr/newimg/news/20230210/201750446_1280.jpg)
Regarding the deal, HYBE stated, "The deal is aimed at strengthening the competitiveness of HYBE in the K-pop industry. We believe we'll be able to become a game changer in the popular music market across the globe if we unite the capabilities of the two companies."
![HYBE](http://img.sbs.co.kr/newimg/news/20230210/201750450_1280.jpg)
![HYBE](http://img.sbs.co.kr/newimg/news/20230210/201750449_1280.jpg)
(SBS Star)