SM Entertainment founder Lee Soo Man is rumored to be investing in LOONA.
According to industry insiders on February 28, Lee Soo Man will be investing in LOONA's label Blockberry Creative. It's alleged Lee Soo Man will be personally investing 1 billion Won ($827,000.40 USD) separate from SM Entertainment. SME has since stated the claim is groundless, but sources are saying he's continuing to discuss details with Blockberry Creative.
In related news, Lee Soo Man collaborated with LOONA for their recent album '#', which was his first time the legendary record producer and executive participated in producing for artists outside of SME.
Stay tuned for updates.
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People can say what they want about SM Entertainment but the fact of the matter is that Lee Soo Man has an excellent eye and ear for talent. There have been plenty of extremely talented artists that he was involved with training and producing before stepping back from his initial role and with his personal support of LOONA, this only further confirms both theories that LOONA is extremely talented and LSM recognizes real talent from a mile away.
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