Home / News / [BREAKING] Alibaba invests 355 billion wons in SM Entertainment’s stocks!

[BREAKING] Alibaba invests 355 billion wons in SM Entertainment’s stocks!



Alibaba has acquired 4 percent stake in one of the big three entertainment agencies in Korea, SM Entertainment! 

Earlier today Alibaba revealed that they have indeed invested in SM Entertainment by purchasing 4 percent share in the company with a total amount of 355 billion South Korean wons. Through this investment SM Entertainment will gain access to release music through Alibaba’s music division, thus officially entering the Chinese digital music market. 

SM Entertainment’s artists include: Kangta, BoA, Chu Ga Yeoul (Inactive), ICONIQ, TVXQ (Hiatus), TRAX (Inactive), The Grace (Inactive), Super Junior [Henry + Zhou Mi] {LabelSJ}, Zhang Li Yin, Girls’ Generation, J-Min, SHINee, f(x), EXO, Red Velvet

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