SM Entertainment has recently undergone a restructure.
Following a year of varied changes within the music industry, the Korean entertainment company home to the likes of EXO, SuperM, Red Velvet, SHINee, aespa, and more, has gone through a restructure to make way for "an efficient and responsible system".
In an announcement made by SM Entertainment on 5 April, the company unveiled that it has established a new subsidiary that aims to manage and better integrate the company's non-music avenues and better encompasses the entertainment sector as a whole. Named SM Studios, the new subsidiary is said to house various operations that target aspects of entertainment that go beyond music, like content creation, design, and more.
Advertising and video creation company SM Culture & Contents, actor management and drama production company KeyEast, lifestyle company SM Life Design Group, mobile app development firm DEAR U, and artist management Mystic Story are said to operate under SM Studios.
In an official statement by SM Entertainment, the company says, "By integrating management in the fields of drama, entertainment, and new media, the affiliates related to the media studio will have collective bargaining power, thereby securing market competitiveness. Through this restructuring, we plan to focus more on the music business, which is the heart of SM Entertainment."
This news follows the company's recent launch of SM Institute, a K-pop training academy in partnership with Jongro Haneul Education, late last year.