On September 3, SM Entertainment and the biggest entertainment enterprise in Hong Kong, Media Asia Group Holdings Limited, entered into a strategic alliance for a Korean-Chinese joint business through the signing of a contract at the Great Hall of the People in Beijing, China.
It was attended by Lee Soo Man, Peter Lam, Fubon Group's Richard Tsai, celebrities like Kangta, Siwon, Victoria, Suho, Chanyeol, and Zhang Li Yin, as well as artists signed under Media Asia Group Holdings Limited. As a result of this alliance, EXO, f(x), and Zhang Li Yin will be promoting in China under the exclusive management of Media Asia Group. Of course, other artists as well as actors under SM Entertainment will also be working with Media Asia Group.
Lee Soo Man said, "For generations, Korea and China are two countries that have been as close as brothers. Using this arrangement as an opportunity, I hope that this would be a chance for Korea and China to understand each other through the sharing of culture."
SM Entertainment and Media Asia Group also revealed the establishment of Dragon Tiger Capital Partners L.P., a media and entertainment investment fund created for the funding of projects in China, such as movies, dramas, and TV programs.