SM Entertainment buys FNC Add Culture and Key EAST

FNC Add Culture is a subsidiary of FNC Entertainment. SM Entertainment will be buying 31% of its stocks, and will be the largest stockholder. FNC Entertainment will be the 2nd largest stockholder.

SEE ALSO: ‘High School Rapper 4’ star D.Ark arrested for marijuana use and distribution

SM Entertainment will be growing the drama, broadcast production, printing, etc that FNC Add Culture has been leading, while adding SM Entertainment's own flair. They will also be opening a lifestyle business that combines retail, F&B, fashion, leisure, and more with the label's stars.

Additionally, SM Entertainment has bought Key EAST CSO Bae Yong Joon's shares. Bae Yong Joon will instead hold stocks within SM Entertainment. The label is home to various actors such as Sohee, Han Ye Seul, Kim Soo Hyun, Park Soo Jin, Son Dam Bi, Uhm Jung Hwa, Woo Do Hwan, Kim Hyun Joong, and many more.