KAKAO CHEATED TO BLOCK HYBE'S PUBLIC OFFERING & SM FILED A CASE, ENDED GETTING FINED INSTEAD

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Find out how Kakao attempted to block HYBE's public offering, SM filed a case, and ended up getting fined instead. Dive into the details of this latest controversy in the entertainment industry.

[@jojoNshadow]

I feel so bad for SM artists. They deserve their careers to be guided by being given 100% of their labels attention & NOT be clouded in all this crap! All this scamming by SM just to try & block Hybe is hurting their artists. That time, energy, FOCUS & FINANCIAL support needs to be used on their artists promotions, tours, training & staff to support new work. Has SM. Ever NOT been embroiled in drama?

[@user-li5sv7bg7y]

Tukaj je tudi Min Heejin.

[@Raven-y5j]

Didn't they file lawsuit against 3 exo member again? They are ready to go against their own top band mems. So much greedy

[@jojoNshadow]

@@Raven-y5j yep that’s been ongoing. More careers they ruined. Some of the guys still do stuff and are trying to do comebacks & tour but SM is always in the way.

[@hueningbahiyyih627]

I love that BTS is shaking up the industry this much. Just 7 boys who love making music and it has snowballed into them exposing everything wrong in the industry 😂

[@JungmiKoru]

Facts 🤭👏

[@ladylazmo8878]

Yuup...shaking up the industry even when BTS is in military. Imagine what will it be in 2025...😱💪💪💪💪💪💪💪💜

[@mo-music9077]

Tax evasion - also MHJ - is a big issue. Strange SK media does not send this out.

[@theannyohaseyonaijapodcast]

Wow, this is so crazy. But seriously why is the whole Kpop industry so scared of Hybe and BTS when they make a move

[@user-li5sv7bg7y]

Zakaj bi se jih bali. Delajo pošteno napram SM in KAKAO ter Min Heejin.

[@aishabailey3568]

Especially since Kakao has 118 subsidiary labels (including SM) under them. Way more than Hybe or anyone else does. So that "Monopoly" accusations against Hybe should stop. Kakao is the real monopoly in the kpop industry. Were they trying to help mhj to pull the rug out from under Hybe for daring to buy SM along with the small labels they already had? SM also has subsidiary labels under them. So why does Hybe keep getting hate for doing the same? Make that make sense!! Hello? "The Black Label" is a YG subsidiary, no? Big companies have subsidiaries. Why can't Hybe have them, too?🤔👀🧐🙄🤨😒😲🤯🎭

[@AJP.OT7]

Bc they are scared of Hybe’s power due to BTS or jealous…

[@mona.cabocmona303]

Before BTS and Big Hit, in kpop industry the big 3 were the ones to have the cream of the cake, that means big, big money. Big Hit not only sit on the table, but because of BTS, they got the knife and the biggest slice of the cake, so it is normal to be upset. The big 3 started losing a lot of money, and for many years they are very frustrated because of that.

[@aishabailey3568]

@mona.cabocmona303 That's a "their problem" that them and their fans are making a bts problem. Just level up like bts leveled up. They just gotta be patient. It didn't happen overnight for bts, so they need to cut bts/bighit/Hybe some slack.

[@mo-music9077]

According to an SBS report that came out today, Kakao investment strategies section chief Lee testified in court recently that Kakao executive and M&A expert Bae asked Oneasia to buy SM stock to "break" the HYBE buyout. Lee further stated that Oneasia was promised the merchandising operations of SM and Kakao. Bae, known for engineering the buyout of the popular music streaming service Melon, is also under investigation, having been arrested October last year.

[@bourjoism3213]

Wow is it even legal???? All these shenanigans should be prosecuted...Why everyone wants to rob HYBE???

[@ihniwiad]

We know this is the tip of the iceburg of issues for this match-made-in-hell that we'll see for Kakao/SM in the upcoming years. It was only a few months ago that when the merge went through and the government said "ok Kakao, now we're going to trust you to be good boys and girls for having control of Melon and SM..." and everyone giggled at the absurdity and of course, we're already seeing the first accusations of their manipulation via BPM.

[@0xyGen_2.p0]

It is absurd how they let a monopoly (Kakao) to even overtake SME. Antitrust laws exist to prevent such cases, not to make them work. Korean system failed back then. Again. Now it seems there is an attempt to correct it because Hymera was let to be created, but it may be too little and too late. It will be much, much harder to normalise things back to controllable frames now. Sadly.

[@fransikaye]

Good grief. Korean corporate stuff is never boring! 😂

[@Cat-Tiger-Taegi-Cult]

You should see their political class fistfights occur on a regular basis

[@mona.cabocmona303]

People are fighting for the power everywhere in the world. Not every time this fight is in front of the public opinion, but even it's hidden, it exists.

[@nickeypamphile4588]

​@@Cat-Tiger-Taegi-CultIs it quarreling or actual throwing punches at each other ?

[@anneprendergast7834]

These types of stories rarely get reported outside the financial press in the UK, unless it involved a well known public figure (Sir Richard Branson for example). Tax evasion on the other hand is a big deal and would create public backlash, again especially if a high profile company or individual. The complexity of the Chaebol org structure makes these cases difficult to understand and to investigate. The UK has a tightly regulated financial industry which makes monopolies and mergers heavily scrutinised. There is a monopolies and mergers commission which can block takeovers if they are not thought to be in the public interest.

[@0xyGen_2.p0]

I'm proud of Hybe for not being a typical cheabol conglomerate. Hybe isn't family owned, unlike almost every other conglomerate in SK. I take this as a big plus.

[@user1234-ol7mz]

Happy Army Day 💜 💕

[@monicababirima2065]

HAPPY ARMY DAY ALL

[@House0fHoot]

*Happy ARMY Day* to all across the world! 💜💜💜💜💜💜💜

[@luna-88838]

KARMA CAME TO BITE SM IN THE ASS! I always felt uneasy with the SM management takeover. I think it was lucky for Hybe to withdraw from the offering and get a media co-agreement with SM artists & Weverse, and leave it at that. SM management is too messy and it's best not to work with partners that you have no synergy and don't want you there. Hope SM artists survive this mess

[@maafremsayablong]

HYBE want kpop in general into the western market, not just BTS, thats why they kept acquiring labels so they could work together instead of competing in the over-saturated domestic market, its no different like other huge western label like sony universal warner etc, but of course other company like kakao doesn't care about kpop and would get profit from anything whenever threes chances

[@nneichan9353]

Min Hee Jin's ability to polarize fans/netizens seems to be holding. I have watched other channels discussing her case and it seems people are hating on HYBE and BSH an awful lot. we don't know everything about the case but people are so angry and deciding already.

[@itsjustjess1]

These people must be new kpop fans because SM has always been a bit slimy and not known for following laws and rules.

[@user-li5sv7bg7y]

Ker imajo ti ljudje slamo v glavi in ne mislijo razumno. Seveda naivno so nasedli manipulacijam Min Heejin.

[@rebeccaavoca9143]

SK netizens are too crazy, .. just imagine the late scandal of that "the Parasite" actor who committed suicide because of online bullies / backlash from the netizens

[@katiaferreira4370]

They made up of clueless, lazy people who do not bother using their logic and reasoning skills. Then you also have the natural haters that hate anything Hybe and those that love drama and support the true criminals and narcissists. Not to say Hybe is perfect but we all need to remember how Hybe surpassed all the top entertainment agencies and how many of these as well as the local media were not happy about it. Nothing would make them happier than seeing the company crash. Min hee Jin and her nasty behaviour has only managed to succeed because BTS is in the military. Everyone else seems to have jumped in for the master take down of the conglomerate but they will end up burning themselves. What you sow you will reap. The disgusting nonsense that has affected so many artists and subsidiaries is unacceptable.

[@mona.cabocmona303]

​@@katiaferreira4370 I think, you cannot generalise all the Korean people like that. They are a bit sensitive to the story, like MHJ presented in her first press conference. Many times, true sad stories ended bad because of powerless people in front of very powerful ones. So, MHJ art of manipulation generate a very strong wave against HYBE, but it didn't last for a long time. People started to see the true face of the woman that portraited a homeless, with a slavery contact, earning millions of dollars. Koreans, are not anymore supporting MHJ after they found out the truth about the shaman long intervention in her life, personal, and professional, about the way that, MHJ talk and behave with her "daughters", and about MHJ creative work in kpop. The only ones that are supporting her blindly, are the teenagers fans of NJ, the girls are supporting their "bad" role model, and their fans are, too.

[@joannmosby7651]

Happy Army Day! 🙋🏽‍♀️🤗😍😂👏🏽🎂🎈🍾🥂🥳🎉🎊🎇🎆💜✌🏽🙏🏽🇺🇸

[@babyc3482]

Happy Army daaaaaayyyyy🎉❤🎉🎉🎉🎉💜💜💜🤗🤗🤗🤗🤗

[@naomikiemeuwa2832]

Happy Army day 💜💜💜💜💜💜!!!!!

[@rgober60]

Could any of this have any thing to do with Min Hee Jin?? I've heard talk that it was SM that was behind all her crap trying to bring down HYBE for SM.

[@user-li5sv7bg7y]

Seveda, Min Heejin ima tukaj glavno vlogo.

[@Yoonji9212]

I think that MHJ was always with SM. Corporate spy. At least that's how it looks now. Or I watch to many kdramas🤷‍♀

[@mona.cabocmona303]

No one from outside can say that, and I don't think that, from inside the problem, someone will confirm either. Let's not assume things that we don't know. Maybe she had silent supporters, maybe. But we cannot just point out and make accusations without any evidences.

[@brownskin.jalayah.addison1804]

I said they planted her there. I don't understand why Hybe hire someone that used to work for SM, I wouldn't trust her from day one.

[@eileencritchley4630]

I don't think we can say for certain but I wouldn't be suprised if she was in some way connected to all this in some small way.

[@suga_rush]

Atp I don't think it's a stretch to say that Kakao is shady. This is just me speculating because I am highly suspicious of coincidences, but Kakao seems to always pop up in some form or another whenever there is something anti-HYBE going on these days. The majorly concerning news of Kakao (which owns MelOn) and SM's deal was conveniently buried amongst a targetted attack on BTS's reputation during the MHJ drama. MHJ and the Ador staff themselves refused to use the HYBE company chat and instead used KakaoTalk which seems suspicious. Why were they not concerned about privacy from a company literally under investigation for data leaks (that they have now been fined millions of dollars for being careless about) but so concerned about their privacy from their parent company? I refrained from voicing my suspicions at the time, but it keeps looking more and more suspicious. Whether they are just opportunists that used each other against HYBE or planned a targetted attack together - I honestly don't know. But it all smells a bit fishy to me. 🤷‍♀

[@alleytint]

I thought exactly about this, kakao always seems to be in the middle somehow and with this whole situation some things seem to fall into place. I don't know if it's just a coincidence but it really is suspicious.

[@sincerelyyours-sz6lg]

Wow, this was some great tea! The amount of research you do is very impressive! Thank you❣️

[@alexinfired7109]

Hybe's enemies did Hybe a huge favor with their plots to keep SM for themselves.

[@tasha5768]

I'm from the Uk and in finance (but not stocks) and we take fraud of any kind very seriously it's not not the done thing and there are extremely strict laws. I do and will always consider it serious, I understand things are different elsewhere but part of it is just how i am morally as well.

[@ilynnpark9459]

I’m not a professional so am speaking as a layperson. 13:13 In Singapore, it’s quite difficult to be corrupt chaebols here. That said, perhaps biggest “chaebols”, apart from some big family businesses like Nippon Paint (not Japanese haha), some banks, etc., are the state-run conglomerates, which drive our GDP quite fairly so they are a critical existence and often also get checked by the corruption bureau.

[@persona5305]

you are talking about Singapore. a country known to be less corrupt

[@bbvistas7596]

Paying the gov 2 times their profit sounds like a bribe and not a deterrent. HYBE should be able to sue them for damages.

[@tetiana_sun]

Fairlane Raymundo! Happy ARMY Day! You deserve all the praise in the world for your dedication to BTS for 11 years. Your knowledge and love have an impact!!! I wish you success in all your projects!

[@Mori-Chan613]

Can we say it's Karma for SM for short changing their idols and getting them into slave contract? Imagine only getting a miniscule % from album sales - only 5% for idol group?. Now SM is facing lawsuits left and right from investors to their idols. Damn, that's a lot boy.

[@ruthfischer7615]

We do not know what they actually pay. I have seen that spreadsheet, too, but it lacks sources and has no confirmation at all which is why people do not believe it. "Slave contracts"... well that is what they are known for.

[@Mori-Chan613]

@@ruthfischer7615 the pay grade/ratio was part of the lawsuit filed by TVXQ before and now EXO-CBX. At least that affirms how little they received compared to how much SM gets from their activities.

[@ruthfischer7615]

@@Mori-Chan613 I don't think I have seen reliable numbers, Even with TVXQ that never gets mentioned when people dismiss the spreadsheet. The only number I have seen recently had to do with how much SM ask CBX to pay so they can do solo content under "their" own label because they will also use stuff that is "owned" by SM or so. But that is some kind of payment for using content for the sub-group not regular payment for their work under SM and the Exo-label. Can you point me at numbers with a source? Because I'm really interested in what is really going on.

[@Mori-Chan613]

@@ruthfischer7615 just go dig it yourself. Unlike you, I'm not too interested in their sh*t.

[@martinwalker9664]

This indeed is Interesting corporate drama and a learning experience for me. I have nothing to share thou about corporate laws. Because of BTS I have followed you and and my interests in many aspects has been widened. Thank you for your insight

[@HailToTheMeep]

Kakao is so big I actually wonder if after all the display of judiciary they’ll get to do whatever they want anyway. For a company that effectively owns Korea, a small fine would just be a small bump on the road of domination.

[@mari61313]

Kakao will fall. BSH/Hybe is an emerging giant player in the IT industry. He is paving the way as we speak.

[@user-li5sv7bg7y]

Kakao naj pade skupaj z Min Heejin in SM. Kdor visoko leti, nizko pade in to zelo hitro.

[@mo-music9077]

Another issue is that Kakao and the Seoul Metropolitan Government had signed an agreement to build the country’s largest arena (2022) the app cost 312 billion won ($257 million) which Kakao will finance 97 percent of the company’s capital. Another issue not spoken in the Kmedia

[@ruthfischer7615]

Will Amazon? Twitter/X? Facebook? etc. Kakao has an emorie outside the music industry and it is big. I was fascinated when I saw how many companies/subsidaies they have... that kind of power...

[@annarobrigado7196]

sounds like a kdrama :) collusion among thieves then having a fall guy. boom!

[@suhayes7628]

Remember Ador cro is from sm.

[@bbvistas7596]

In the US? I do not see this happen in the US other than a CEO struggle. That's usually it.

[@ruthannesnell1848]

Thank you for your report on this issue. I always trust your reports. I wonder if HYBE's conglomerate status will be an asset to them in this case? Do you know if KAKAO has conglomerate status? I wonder if this case will prove to be helpful in EXO-BBX's lawsuit with SM? SM seems to have a history of unfair business practices perhaps?

[@elaineOiwish]

I thought Hybe sold off 25.46% of its holdings ( 755,522 shares) in SM on May 28, 2024 so it wouldn’t be a majority share holder any more? Originally Lee Soo Man urged Hybe to buy 14% off of him to keep his nephew from gaining majority shares

[@HailToTheMeep]

Sorry I don’t understand the first case. So basically the judgement says that SM didn’t have to over pay LSM but they did so it’s their problem? (Sound like the CEO of Ador is a good student of LSM)

[@L.Sunday16]

I also asked myself that. Seems he received the oversized salary abroad?? i.e. tax evasion. So he evaded the taxes but now is to pay fine. The national tax service is taking their money.

[@mona.cabocmona303]

SM may ask the money back from Lee Soo-Man, because it's stated that he earned illegally, but it's a long term battle.

[@0xyGen_2.p0]

It is company that paid him that, therefore SME was in breach of law, not LSM. SME will have to respond in face of law also. Not LSM.

[@lealarsen2017]

omg mhj embesslement? is that regarding the other issue with nj or something else?

[@mo-music9077]

That was the start of her feud but she did a pressconference to cover up. Her hatetrain and mediaplay against Hybe

[@FaydraGirl]

Having to say all that stuff at the end must be exhausting, lol

[@cleobelcaylao5877]

Bad intentions always have bad results. Their intentions of making SM shares skyrocketed was so obvious, so hybe backed out of their offer. Hybe should sell their SM shares, and buy more hybe shares instead so bang pd will have a majority and cannot unseat him by the board.

[@Raven-y5j]

They did sell SM shares in May i think

[@leexeseul]

Hybe really going for the monopoly over Korea lol

[@Deb.Blakley.Rasmussen]

💜

[@FaydraGirl]

😊

[@TomsMusicCorner]

even if it is illegal, HYBE should not be allowed to continue investing in SM. Is there no cartel office in SK? HYBE can already block all the other labels regarding comebacks and possible music show wins and charts. On the other hand, Kakao is also suspicious. The kpop industry is in way less hands than we might know. In speaking of that, it would also be interesting to know what RBW is doing in the background (with WM Entertainment and DSP Media).

[@ruthfischer7615]

How can they "block" anyone? They can't do it anymore than the Big3 could. Well... the Big3 may be able to do it better still since they have better media connections. They are considered "chaebol" in Idol music. HYBE is not as they are too new and still lack the power despite their money as you can see from what is happening here. Kakao is btw bigger in the Korean music industry than HYBE. The cartel law does nothing because there is NO cartel. You could call Kakao a cartel mayeb in communications because when one of their serves broke down quiet a lot of people were unable to communicate at all because all possible methods belong to Kakao and that broken server.

[@alleytint]

and only hybe is capable of doing this??? hybe didn't stay with sm, kakao did (it was even approved by the FTC). kakao manipulated sm's share price precisely to block hybe from staying with sm. now look at all this confusion, kakao is clearly suspicious and other companies are too

[@TomsMusicCorner]

@@alleytint that's why I mentioned Kakao too. I remember when one of LOONA's albums had not enough stocks bc of Kakao. That BBC and Kakao were in the same boat explains a lot of the circumstances back then. I also think that Kakao had something to do with the shadowban of tripleS +(KR)ystal Eyes promotions the moment when ARTMS (5 former LOONA members) signed with MODHAUS. And I also said that "The kpop industry is in way less hands than we might know". Hybe don't have the power beating Kakao but SM should stay on their own regardless.

[@ruthfischer7615]

@@TomsMusicCorner SM is failing and loosing artists and personal - one month there was a message that they already lost 70 employees that month - and will up to 80 at the end of it. The environment is even more unhelathy than it was before. How do you think HYBE can "block" anyone? When the Korean music industry is still owned by the Big3. But when it was them it was okay, wasn't it? HYBE artists are the ones that have a far higher chance to be blocked or get bad reviews/takes. It's nowhere near a cartel. You can find far more "cartels" in the US music industry but that sems to be of no interest to you either. But whatever. It is quiet clear that Kakao and SM are in the wrong here and were back than, too.

[@Department_of_Justice]

He sounds paranoid with unsubstantiated conspiracy theories.