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KAKAO selling SM? (+K-netizens gussing who will buy SM)
2024.07.18 16:11
Kakao is going to sell most of its entertainment company, including Kakao Entertainment and SM Entertainment
In early 2023, Kakao acquired a 39.87% stake in SM Entertainment, becoming the largest shareholder.
However, they are now facing legal issues related to stock manipulation allegations.
This has led to rumors that Kakao might be looking to sell SM Entertainment.
K-netizens are also expressing their opinions on who might buy SM Entertainment from Kakao
<Because of the entertainment business, KakaoBank is at risk of suffering significant losses. Naturally, they might have to shut down all their entertainment ventures.>
<Entertainment isn't that important anyway. In any case, whether they sell or not, it probably won't have a significant impact on SM artists.>
<If the options are between China and Saudi Arabia, Saudi Arabia is definitely much better.>
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