According To The Korea Fair Trade Commission’s HYBE Is The First Entertainment Corporation To Be Classified As A Conglomerate.

According to the Korea Fair Trade Commission’s Akp Staff, HYBE is the first entertainment corporation to be classified as a conglomerate.

Being the first entertainment firm to do so, HYBE is now officially recognized as a conglomerate by Korea’s FTC.

Industry reports indicate that HYBE was officially designated as a publicly revealed corporate conglomerate on April 8th, after the Fair Trade Commission found that the company’s assets were worth more than 5 trillion KRW (3.7 billion USD). The consolidated total assets revealed by HYBE last year were 5.35 trillion KRW, or around 3.9 billion USD. On May 1, it will be officially confirmed as a conglomerate.

The designation as a huge enterprise conglomerate has never before been bestowed onto an entertainment organization. Big Hit Music, Weverse Company, Pledis, Source Music, and ADOR are all subsidiaries of HYBE. The level of non-current assets grew substantially as a result of an increase in financial assets and retained earnings, even as current assets shrank from 2.115 trillion KRW (~1.56 billion USD) in 2022 to 1.89 trillion KRW (1.4 billion USD). The purchase of SM Entertainment shares likely played a significant role in this.

The designation of a corporation as a large enterprise conglomerate brings about a slew of laws, including disclosure requirements and limits on internal activities.

Someone on Korean internet said, “They need to treat BTS so much better,” “That’s BTS’s blood, sweat, and tears right there,” “Treat BTS better,” “Wow, BTS is a whole company of their own,” “The company needs to do better,” “What’s the point of becoming a conglomerate if the staff still lacks competence,” as well as “Wow, that’s impressive how they are now a conglomerate.”