“BTS is the pride of our people”
Lee Soo Man, founder and former executive producer of SM Entertainment, sent a letter to SM’s management, staff, singers and fans.
Earlier this month, the court supported Lee Soo Man, invoking a motion for an injunction to stop the issuance of new shares and convertible bonds against Kakao. As a result, it is difficult for Kakao to secure a 9.05% stake in SM and HYBE, which has become SM’s largest shareholder, appears to be winning the takeover battle.
Lee Soo Man then wrote a letter to express his feelings, saying: “Ever since I became a messy-haired ballad singer in the 1970s, I’ve lived my entire life in the public eye. I’ve received a lot of love as a singer and MC, and the female singers I’ve produced as a producer have also been loved by the public. So I’m sorry for a lot of things that have happened around SM lately. »
The SM founder also addressed the past, adding: “The achievements of K-pop in the world, like those of JYP, YG and HYBE with SM, are a miracle and a blessing for Korea. My youth has gone as far as these years, from Hyun Jin Young to HOT, BoA, TVXQ, Super Junior, Girls’ Generation, SHINee, EXO, Red Velvet, NCT and aespa. »
He continued: “The status of SM according to Lee Soo Man has been on my mind for a long time. Entertainment is a world of creativity. I felt that SM needed to be passed on to the “best” in the business for it to continue to thrive, rather than being passed on to my children or loved ones. If there is a problem with the governance structure of SM, it needs to be improved and if there is a need for a professional manager, he needs to be appointed. For me, “better” means producing. »
Lee Soo Man is also called HYBE ” best choice “explanatory: “Although it was SM’s rival, the success of BTS is the pride of all our employees. HYBE President Bang Si Hyuk is a music producer who, like me, has been through a tough time. He spent time in the rehearsal room, ate snacks with aspiring singers, and experienced the difficulty of finding investors. Like me he was crazy about music and made a record called BTS. I felt that he treated his artists with the same affection that I did. »
Meanwhile, Lee Soo Man also spoke about his next move: “Having completed the first arc of my life as an SM leader, I now move on to the second arc. My ‘next’ is a place where technology and culture meet,” said the founder.
Finally, Lee Soo Man addressed the current management and artists of SM and said: “I never regret the days I spent with you. SM has been a challenge, a joy and a blessing for me. This is what I want to say to the artists who have been with me: I met you, you were full of dreams, and together we made music through life’s ups and downs. You were my teachers, you did everything to give quality performances on stage. I respect you, I am proud of you and I am grateful to you. »
