SM Entertainment’s SMTown entertainment complex is located in South Korea in 2015. SM Entertainment declined to say how much the company is investing in its Southeast Asian expansion. -Number of part-time employees.”
Seongjoon Cho | Bloomberg | Good pictures
South Korean entertainment giant SM Entertainment will set up its Southeast Asia headquarters in Singapore as part of its expansion plans in the region.
The company confirmed its hiring plans in Singapore via email to CNBC.
In his interview on “The CNBC Conversation” last month, SM Entertainment founder Soo-Man Lee said he recruits and develops talent through a “cultural technology” system he created, through which singers and dancers perform at four levels: acting, training, marketing/management and Production.
Lee added that K-pop group NCT is interested in forming Singapore if the opportunity arises, but it is unclear if plans are being implemented.
Headquartered in Singapore “Managing joint ventures in Indonesia, Vietnam and Thailand, as well as liaison [its South Korea office] For other related initiatives and projects.”
SM Entertainment declined to say how much it is investing in its expansion in Singapore, but said it will increase the number of full-time employees, “amid hiring more local talent.” The company is also “looking to hire local undergraduates or fresh graduates for internships.”
In addition, the company plans to launch retail businesses in Singapore, including cafes, merchandise stores and pop-up exhibitions.
Broad expansion in Asia
SM Entertainment told CNBC that it plans to slowly expand not only to the rest of Southeast Asia, but also to the wider continent, including the Middle East.
The company’s Indonesia branch has won brand endorsements such as Mie Sedaap and Sasa for Choi Siwon of K-pop boy band Super Junior and Something and Lemonillo for NCT Dream.
As for future K-pop group plans, Lee told CNBC that SuperM will make a comeback announcement in early 2023. He plans to form new groups or sub-groups, NCT Saudi and NCT Tokyo.
Yonhap news agency However, it was reported in October that SM Entertainment would end its contract with Soo-Man Lee and his music production company, Like Planning. The production contract ends on December 31. Su-Man Lee is the largest shareholder in publicly listed SM Entertainment.