After the surprising news that Woollim Entertainment, home to musical groups Infinite, Nell, and Tasty, was merging with SM C&C, a subsidiary of SM Entertainment, to form the label “Woollim Label” the agency is speaking out to the media.
To news agency Sports Korea, a high ranking employee of Woollim stated, “Woollim’s music will not change, and it will continue to pursue new music and challenges and keep its originality because it will be individually managed even after the merge and acquisition.”
SM Entertainment will be in charge of the global distribution of the music and other businesses of artists’ under “Woollim Label,” while SM C&C will be in charge of the label’s functions.
The rep emphasized that it was not a sudden decision but made after careful consideration of the agency’s artists’ futures. “It was decided after a long deliberation and consideration of the artists and employees. We understand the public’s reaction of surprise since the agency has been making a comparable profit as you can see from the successful progression of Infinite’s world tour. But the music market quickly changes so instead of worrying about short-term profits, we decided after discussing things with the artists and thinking about the long-term and security of their careers.”