Pink Bloods ‘defend’ SM Entertainment by sending protest truck to HYBE
SM Entertainment’s fans, Pink Bloods, sent a protest truck past HYBE’s building protesting the conglomerate’s monopoly.
Why is he attracting attention?
Pink Bloods sends protest truck to HYBE to ‘defend’ SM entertainment culture.
On February 28, a protest truck was dispatched in front of HYBE’s building declaring a disagreement over acquiring the largest stake in SM Entertainment.
The Pink Bloods, SM fans, drew attention for their outspoken attempt as well as protest messages embedded in their truck.
The truck listed several messages protesting HYBE’s monopoly. He also shared how HYBE “destroyed” SM Entertainment’s culture through the merger.
(Photo: Twitter, SM Entertainment)
Trucks also said HYBE should only deal with its own artists and leave musicians from other agencies alone. Some even dropped unfriendly tones and promised to curse the HYBE artists if the SM Entertainment singers got mixed up.
Here are the translations of the protest truck:
“The crazy company that allowed Lee Soo Man to spend 10 billion won to plant trees is HYBE.”
“SM fans are mobilizing against the HYBE monopoly. We will support an SM without HYBE!”
“Plant your trees with Interpol’s wanted criminal Lee Soo Man, but don’t touch SM 3.0.”
“Lee Soo Man, who made a dinner and a rush with his tax evasion, and HYBE, the money-hungry company, are dropping SM. Monopoly destroys culture.”
“Go take care of your brats. Why are you looking at our brats?
“Hands off SM artists. Don’t make us insult HYBE artists.”
“Don’t form a monopoly by eating SM or you’ll ruin K-pop.”
On February 10, HYBE announced that Lee Soo Man, founder of SM and former major shareholder, had signed an agreement for a 14.8 percent acquisition.
(Photo: Instagram: @smtown)
Lee Soo Man had sold his shares for KRW 422.8 billion, equivalent to $334 million. After acquiring these shares, HYBE has now become the main shareholder of SM Entertainment.
In addition, Bang Si Hyuk has also planned a tender bid to acquire an additional 25% stake from SM’s minor shareholders.
On February 21, HYBE released an open letter discussing several key points about their acquisition. HYBE CEO Park Jiwon acknowledged SM’s internal dispute over management’s rights and powers.
He also spoke about the companies’ collaborative innovation that brought creative freedom to their labels and spread K-pop worldwide.
How did the K-pop community take this? Here’s what they said
In a forum, many Internet users were appalled by the protest. They expressed how brave it was for Pink Bloods to send a protest truck to HYBE and even reflected on their loyalty to SM.
Others suggested focusing on SM Entertainment instead given the company’s internal conflict. The incident was embarrassing for some.
See her comments below:
“So they basically sent a truckload to confess that HYBE idol haters are all SM fans?”
“Are you crazy? To put it bluntly, they’re the ones whose business doesn’t show up inside, why put on any other business?
“Is that what happens when people go crazy when they’re obsessed with a business?”
What do you think of their protest against HYBE?
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