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SM Entertainment launches ‘KWANGYA 119’ website to “protect” its artists

K-pop agency SM Entertainment has launched a reporting centre for fans in order to protect its artists.On June 21, the agency took to Twitter to announce the launch of ‘KWANGYA 119’, which it describes as a “reporting center for protecting the rights and interests of SM artists”.The new website, functions as a messaging board where fans can report issues regarding artists under the label directly to SM Entertainment. Fans are able to report instances of defamation, including fake news regarding the agency’s idols, as well as copyright infringement, illegal ticket sales and “corrections and suggestions” for the company.안녕하세요.⁰SM엔터테인먼트입니다.⁰⁰SM 소속 아티스트의 권익 보호를 위한 신고 센터인 'KWANGYA 119' 사이트가 오픈 되었습니다.⁰https://t.co/nDLjraEL63⁰⁰‘KWANGYA 119’는 SMTOWN 아이디로 로그인 후 이용 가능하며, ⁰‘ARTIST 명예훼손 신고’ 외에도 ‘불법 티켓/저작권 침해 신고’와… pic.twitter.com/8FLgjLY7fF— SMTOWN (@SMTOWNGLOBAL) June 21, 2023All posts on the platform are private, though other users can see which artist each report is about, as well as the nature of the complaint.
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SM Entertainment CFO explains leadership’s opposition to HYBE’s “hostile takeover” of the K-pop agency
SM Entertainment has released a video of its CFO Jang Cheol-hyuk explaining company leadership’s opposition to HYBE’s recent acquisition of a controlling stake in the K-pop agency.On February 20, a video titled “The reason why SM is against HYBE’s hostile takeover” was published on the agency’s official SMTOWN YouTube account, which usually only releases content for its artists. In the clip, Jang directly addressed fans of SM’s artists and its shareholders, outlining the agency’s view on HYBE’s recent acquisition and what it sees as potential consequences of the merger.In the video, Jang claimed that HYBE did not request due diligence material from SM Entertainment during the merger and acquisition disclosure process despite the large scale of the deal – a 1trillion won investment on HYBE’s part, which would require the agency to take a short-term loan in order to finance it, according to HYBE’s regulatory filing on February 10.Jang then raised this as an indication that HYBE’s corporate governance is “far from sound or rational”, claiming that SM Entertainment would “inevitably” be subject to this “weak governance” should HYBE take over the company, to the detriment of SM’s shareholders and artists.Jang also claimed that the values and interests of SM’s shareholders would likely not be prioritised in the event that HYBE successfully dominates its board of directors, and alleged that a takeover by HYBE would lead to the de-prioritisation of SM artists and their music releases due to HYBE’s roster already being “saturated” with artists from its existing subsidiaries.
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