ENTERTAINMENT

S.M. becomes Mystic’s largest shareholder

By Rumy Doo
  • Published : Mar 31, 2017 - 13:42
  • Updated : Mar 31, 2017 - 13:42
K-pop behemoth S.M. Entertainment has become the largest shareholder of Mystic Entertainment after strategically investing in 28 percent of the management agency’s shares, S.M. stated Thursday.

Helmed by producer Yoon Jong-shin since 2010, Mystic is known for fostering artists with folksier, alternative sounds such as Eddy Kim, Puer Kim and former 2AM member-turned-rocker Jeong Jin-woon.

Mystic recently strengthened its video content department by recruiting Yeo Woon-hyuk, the producer of variety shows such as “Radio Star” and “Knowing Bros.” 

Lee Soo-man (S.M. Entertainment)

Yoon Jong-shin (Mystic Entertainment)

S.M. plans to “support Mystic’s business capacity and allow it to grow into a global music label,” said the giant management agency, which houses global K-pop groups such as Super Junior, Girls’ Generation and EXO.

S.M.’s entertainment and television arm S.M. C&C will also be collaborating with Mystic to produce variety programs, drama series and films.

“S.M. and Mystic, as the best partners based on mutual respect and cooperation, will create global synergy in various fields such as music, artists, concerts and festivals and video content. We will release strong, new content and projects through collaboration between the two companies soon,” they said in a statement.

(doo@heraldcorp.com)