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| ▲ This photo provided by SM Entertainment shows the firm's co-CEOs Jang Cheol-hyuk (L) and Tak Young-jun. (PHOTO NOT FOR SALE) (Yonhap) |
SEOUL, Jan. 20 (Yonhap) -- SM Entertainment said Tuesday it will debut a new boy group this year and produce a global group in collaboration with Asian companies, including China’s Tencent Music Entertainment.
The K-pop agency unveiled the plans through its official YouTube channel as part of its new strategy dubbed "SM NEXT 3.0."
"SM NEXT 3.0" builds on the "SM 3.0" strategy announced in 2023 and centers on introducing a "Multi-Creative" system that strengthens the roles of artists and creators throughout the production process.
Under the current structure, five in-house productions oversee everything from album production to artist management. The new system will establish dedicated units for music videos, visuals and A&R (Artist & Repertoire) separate from the productions to enhance specialization.
“We will pursue growth and change at the same time by identifying and assigning the optimal creators around artists,” co-CEO Tak Young-jun said. “By flexibly building creative lineups optimized for each project, we aim to realize artists’ transformations with a high level of completion.”
SM also said it will launch a new boy group later this year, with the debut process to be revealed step by step through the variety show "Answer Me High School."
In addition, the company is preparing to produce a global group in partnership with Asian firms such as Tencent Music Entertainment and Thailand’s True Corp.
“While centering on SM’s creative capabilities, we plan to carry out production and marketing through active collaboration with strong local partners,” Tak said, adding that discussions are also underway with multiple partners in Japan.
SM further outlined plans to grow its music publishing subsidiary, Kreation Music Rights (KMR), into Asia’s largest publishing company within the next five years.
Music publishing involves contracting songwriters and supplying their works where needed in return for a share of creative revenues. KMR currently works with more than 370 composers and holds a K-pop catalog of over 7,000 songs.
The company also mentioned a new A&R system that uses artificial intelligence to analyze song data and recommend tracks best suited to artists.
Alongside these initiatives, SM said it will strengthen efforts to protect artists’ rights and expand its concert and platform businesses, while seeking synergy between K-pop and the AI technologies of its parent company, Kakao.
Co-CEOs Jang Cheol-hyuk and Tak said "SM NEXT 3.0" aims to achieve “boundary-less expansion by combining technology, platforms and people-centered creative innovation on top of musical fundamentals,” adding that the company will “prove its position as a global leading enterprise through solid growth and investment.”
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