The "integrated corporation" in the world's top music market is an expansion of SM and Kakao's existing partnership.
Also on the Billboard Global Music Index, Spotify's stock stayed hot with a 9.6% gain, bringing its year-to-date increase to 117.9%.
The Billboard Global Music Index dropped 3.5% with 16 of its 21 stocks in negative territory.
The Billboard Global Music Index gained 5% this week, bringing its year-to-date improvement to 14.2%.
A Korean law firm says K-pop stars Baekhyun, Chen and Xiumin are pursuing their longtime label and management company over contracts longer than 12 years.
The next step in K-pop’s growth may lie not in music itself, but in exporting K-pop’s disciplined development, production and promotion model.
After losing its bid for a controlling stake in the K-pop agency to rival bidder Kakao, HYBE has struck a platform collaboration with its former target.
HYBE still owns an 8.8% stake in the competing K-pop company after Kakao purchased an additional 1.66 million of its shares.
Spotify shares' 4.5% improvement this week was the best of the 20 stocks in the Billboard Global Music Index.
The agency behind BTS said it was still studying possible avenues for collaboration with SM, once South Korea’s dominant K-pop company.
