SM Entertainment will enter the Vietnam market to promote K-pop music.
On 10th May a signed a memorandum of understanding (MOU) with Vietnam's largest retail and lifestyle company IPP Group to advance into the Vietnamese market and joint venture.
We will produce a variety of video programs, advertisements and lifestyle projects, starting with the production of V-pop contents through SM's singers' entry into Vietnam and local singers.
The IPP Group, which has signed an MOU with SM, invested and developed over a total of about $ 500 million (about 534.2 billion won) for about 32 years.
At the signing ceremony of this MOU, SM founder Lee Soo Man, General Manager Kim Young-min, General Manager Han Se-min, Group NCT Tae Yong, Mark, Johnny and IPP Group Chairman Jonathan Haing Nguyen were present.
Kim said, "Business cooperation with the IPP Group will be a great help to advance into Vietnam, one of the most important countries in the Southeast Asian market. We plan to find more local singers and grow them into global stars via SM capabilities."