] Korean entertainment agency FNC Entertainment
has set up a joint venture with China’s Suning Universal, the entertainment unit of China-based real estate company Suning Group, it announced on July 18.
The two sides said they hope the new entity will establish a strong foothold in the Chinese entertainment industry.
CNBLUE, a K-pop acoustic band under FNC Entertainment / FNC Entertainment
“Our aim is to lead China’s cultural content industry by utilizing FNC’s production skills and Suning Universal’s infrastructures and business management within the Chinese market,” said FNC chairman Han Sung-ho.
Under the deal, the label of prominent K-pop performers such as CNBLUE and AOA and Suning Universal will oversee auditions for up-and-coming Chinese celebrities.
In 2015, Suning Universal invested US$290 million in the K-pop management company.
By Jung Min-kyung (firstname.lastname@example.org)