[News] SM, JYP, YG, Star Empire etc form joint venture to establish KMP Holdings

The 7 representative local entertainment companies in Korea YG Entertainment, JYP Entertainment, SM Entertainment, Star Empire, Media Line, Can Entertainment, Music Factory etc will come together for a joint venture to set up KMP Holdings.

There are plans for KMP Holdings to build on its competency in terms of music service enterprise, broadcast programmes production enterprise, as well as digital music retail enterprise.

Also, it is established to provide a new variety of quality music content through its own contents service platform to consumers for the development of the Korean music industry and also spreading the Korean music and culture.

KMP Holdings representative Kim ChanHwang said, “With the development of new technology like smart phones and the emergence of new media like IPTV, there is a new for a new business model and service to provide a variety of contents to consumers. KMP will move into the new markets like smartphone market to provide new services and contents. “