Alibaba proposed $560 million investment in South Korea SM entertainment

in building large cultural entertainment industry chain, alibaba to the next town. Today, according to South Korea economic daily quoted sources said that alibaba could to South Korea SM entertainment investment 100 billion won ($560 million), South Korea is undergoing an accounting firm to carry out due diligence.

August 28 this year, the south Korean government has said: “alibaba group plans to tune in to South Korea joint ventures company build Korean video funds invest 100 billion won ($560 million). Investment plan is divided into two payments, alibaba is now risk fund operating companies and cooperation to discuss specific issues. Ali this will not only money, also will be in charge of Korea in the film and television play in the flow of business in China.”

SM entertainment company in the following said in a statement, the reports “false”. SM, however, said the company is working with much debate about China’s various forms of business cooperation.

South Korea SM entertainment co., LTD. (S.M.E ntertainment) is South Korea a large artist project and brokerage firm, founded by LSM singer was born in 1989. In 1998, s.m company introduced its HOT, SES to China, Japan, raised a HOT wave “Korean wave” in Asia. In April 2000, s.m listed company, its representative artist BoA, TVXQ, Super Junior, girlish, SHINee, f (x), exobiology and so on. On May 8, 2014, SM entertainment has announced a strategic partnership with baidu.

in the past two years, alibaba group in the entertainment industry chain layout is obviously accelerated, ali a $586 million stake in weibo, hk $6.24 billion stake in cultural China (now known as ali pictures), $1.22 billion strategic investment youku potatoes; Recently with a $1.5 billion stake in huayi brothers, core purpose is to hope that through the film and television entertainment industry carrier, eventually hopes to consumers as the origin, create suitable for The Times of new ecological culture industry, to meet the different needs of consumers in the cultural field.

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