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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Sorry to all the HYBE stans but there is no denying that HYBE is monopolizing. They are acquiring a lot of entertainment companies so yes they are monopolizing. That is the definition of monopoly. Them gaining SM honestly I feel like is their beginning. Them acquiring such a big company like SM is kinda scary because you really don’t know what or who else they will try to buy.
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