HYBE Labels acquires 100% of BeLift Lab shares

HYBE Labels has fully acquired 100% of shares in BeLift Lab, home to ENHYPEN. 

BeLift Lab was previously founded in September of 2018 as a joint company co-owned by HYBE Labels and CJ ENM, with Kim Tae Ho, who was then COO or HYBE, being appointed as CEO of BeLift Lab.

Then, on August 10 KST, HYBE Labels confirmed that it has signed a buyout contract with CJ ENM for the acquisition of 51.5% of shares in BeLift Lab, sold at 150 billion KRW (~ $114 million USD). Once the buyout is completed, HYBE Labels will own 100% of BeLift Lab's shares, successfully adding the label to its expanding 'multi-label' lineup. 

HYBE Labels and CJ ENM intend to pursue various modes of cooperation for the global promotion of K-culture even after the acquisition is completed. 

Meanwhile, the female idol survival project 'R U Next?' by HYBE Labels x BeLift Lab is currently airing every Fridays on JTBC.