On August 16th, SM Entertainment announced the establishment of their first international joint venture, 'SM True Co. Ltd', with Thailand's True Visions Group. SM Entertainment held a press conference and signing ceremony in Bangkok, Thailand at the Siam Kempinski hotel and Parc Paragon. The conference was divided into two parts, with the first section for media outlets like the Daily News and the Bangkok Post, and the second with Channel V, The Music Channel 3579, Seventeen Magazine, and others. CEO Kim Young Min, who will also act as the CEO for SM True, said, "We have established SM True with Thailand's biggest media distribution source, True Visions Group. By using True's unrivaled infrastructure and networks, SM will be able to quickly and more effectively distribute our contents. With the combination of our competitive products and True's vast network, we feel that this joint venture will create a positive synergistic effect." He continued, "With SM True as the start, SM Entertainment will work to make sure that our contents can be distributed more widely not only through Asia, but all across the world. We will be creating a business model to expand into a vast network." Hallyu star KangTa also attended the event as SM True's director. He commented, "Transcending a status of a Hallyu star, it is personally a new challenge for me to be working as the director of SM True's business. I will be using my experience and know-hows of promoting on stages all over Asia to advance SM True." The press conference went on to show congratulatory performances by SHINee for the 3,000 audience members and press reporters present at the scene. SM True will be handling all of the physical and digital distributions, concerts, and promotions for the artists under SM Entertainment. Representatives revealed that SM True will work to act as a local management label in discovering, training, and producing new artists. Source + Photos: OSEN via Naver
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Posted by Wednesday, August 17, 2011
SM Entertainment establishes joint venture company with Thailand's True Visions Group, 'SM True'
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