Former SM Entertainment CEO, Lee Soo-man, explores new opportunities? Opens a new office in Cheongdam-dong.
Former SM Entertainment CEO and producer Lee Soo-man is reportedly seeking new opportunities after transferring his shares to HYBE earlier this year. It has been revealed that Lee Soo-man has set up a personal office and is exploring new ventures.
According to industry insiders, the former CEO has established his personal office in Cheongdam-dong, Gangnam-gu. This office is separate from his other business ventures, including “Blooming Grace,” a technology and real estate company he established in Seongdong-gu, Seoul, in March, as well as separate companies related to unmanned aerial vehicles (drones) called “Repolux” and a music publishing company called “Culture Technology Group Asia.”
An industry insider who recently met with Lee Soo-man stated in a phone conversation, “He has set up an office in Cheongdam-dong and met with acquaintances. He appeared to be in good health, but he was reserved when it came to discussing future plans.”
In a letter sent to the press in March, the former CEO emphasized that SM Entertainment, founded under his name, would now close a chapter. He stated, “Today, SM, which was founded under my name, concludes an era. K-pop should evolve beyond K-pop and become global music that resonates with the world.”
Therefore, some speculate that the former CEO may be reentering the music business. It has been reported that during the share transfer negotiations with HYBE, the former CEO requested the removal of a clause that restricted his producing activities to overseas for three years, excluding Korea.
There is also speculation that the office in Cheongdam-dong may become a gathering place for individuals associated with Lee Soo-man. According to multiple entertainment industry sources, former SM Entertainment employees have expressed their intention to collaborate with Lee Soo-man.
Furthermore, there are rumors that prominent figures from SM C&C, a variety label under SM Entertainment, may also join the transition. An industry insider stated, “Nothing is confirmed yet, but it’s worth observing the situation as things might change.”
It seems that Lee Soo-man is exploring new possibilities in the industry, and the establishment of his personal office has sparked curiosity and discussions among industry insiders and fans alike.