HYBE chairman Bang Si Hyuk has decided to address concerns over a potential "monopoly" or "oligopoly" of the K-Pop Industry, in an interview with Richard Quest of CNN.
Against a stream of very direct questions, such as ones asking why HYBE would want to go against the current management of SM Entertainment in acquiring the K-Pop label and what vision he has in mind for the future once the acquisition is complete, Bang Si Hyuk demonstrated a professional attitude as he gave concise, thoughtful answers. Meanwhile, the general board meeting of shareholders at SM Entertainment will take place on March 31, with HYBE seeking to secure majority support of shareholders for the installation of a new board.
Watch the full interview, above.
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he can suggest hybe will have a hands-off approach all he wants but he's also strongly implying they're going to completely refresh the board of directors. that's certainly not hands off. they would likely be doing that with the goal of ousting management in mind. and like it or not, ultimately hybe IS a competitor of sme. they wouldn't have put so much effort into taking control of a competitor if they weren't going to make major changes that were to their own benefit. artists WILL be affected by this and it's naive to think they won't.
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