Followers of SM Leisure artists held an LED truck protest in entrance of HYBE headquarters in Yongsan, central Seoul, on Tuesday to oppose the company’s takeover of the corporate.
Footage of vehicles parked exterior HYBE have been posted on-line on Tuesday, displaying the messages like “We followers oppose HYBE’s monopoly.”
One message parodied HYBE’s slogan, “We consider in music,” by slashing out the phrase “music” and changing it with “cash.”
HYBE “ought to be asking how followers and artists really feel about every part, however no dialog is going down,” stated a fan collaborating within the protest to the native press.
Followers and workers at SM Leisure have been brazenly opposing HYBE’s takeover of the Ok-pop company for the reason that day HYBE signed a deal to purchase shares from SM founder Lee Soo-man final month.
HYBE is searching for to purchase as much as 40 p.c of the corporate, which might give it efficient management.
A complete of 208 SM Leisure staff — the corporate had 559 staff final September — got here collectively underneath a coalition and launched a press release opposing HYBE’s buy of the corporate’s shares.
“Former chief producer Lee Soo-man has offered his shares to a competitor that he has been belittling and ran away as his unlawful tax evasion got here to mild,” the assertion learn. “We’ll shield the cultural variety of Ok-pop and the distinctive id of SM Leisure. SM Leisure’s tradition can’t be topic to HYBE’s capital.”
A shareholder assembly shall be held on March 31 and SM Leisure board members shall be appointed.
BY YOON SO-YEON [[email protected]]