SM celebrities including Girls' Generation, Super Junior, TVXQ, BoA, SHINee, f(x) and Kangta will become major shareholders of SM Entertainment, one of Korea’s largest entertainment companies. The agency recently announced that it would be issuing approximately $881,000 worth of new shares for its artists.
SM Entertainment announced the plan through DART Financial Supervisory Service on March 26, "To raise funds for management, the company will be carrying out a small sum recapitalization allotted to a third party. As such, 47 artists signed with the company including Kangta, BoA, TVXQ, Super Junior, Girls’ Generation, SHINee, f(x), Go Araand Lee Yeon Hee have been included in the procedure."
SM Entertainment explained, "This capital increase represents a strengthening partnership between the company and its artists, and we hope that as shareholders, our artists will share and take part in the vision and growth of the company."
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