SM Entertainment restructured its system for subsidiaries.
On April 5, SM announced the establishment of SM Studios, a new subsidiary entirely owned by SM Entertainment. All SM shares in SM C & C, KeyEast, SM Life Design Group, DEAR U and Mystic Story will continue to invest exactly in SM Studios.
SM Culture & Contents (SM C &C) is an advertising and content production business as well as a management agency for actors.
KeyEast is a management agency for actors and also a drama production company.
DEAR U is a mobile application development and operating company.
Mystic Story will direct actors and musicians and produce content.
The newly established SM Studios will promote efficient group work through a responsible management system.
SM Entertainment said, “Thanks to the integrated management of the drama, entertainment and new media sectors, SM Studios affiliates will have more collective bargaining power and gain market competitiveness. Through this restructuring, we plan to focus more on the music business, which is the heart of SM Entertainment. “