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SM Entertainment Offices Raided by Korean Regulators as K-Pop Agency Duel Continues
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variety.comPatrick Frater Asia Bureau Chief The battle for corporate dominance of K-Pop has become a drama that never stops giving. After the acrimonious takeover battle between BTS-backer Hybe Corp.
and tech giant Kakao for control of SM Entertainment, Korea’s financial regulators are probing the deal-making that eventually led to Kakao’s victory.
Korea’s Financial Supervisory Service raided the offices of SM Entertainment on Tuesday, according to the Yonhap news agency.
Investigators were looking for evidence of stock price manipulation between February and March when the two camps were skirmishing.
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