The CEOs of MYSTIC89 (focused on singing) and Family Actors Entertainment (focused on acting) announced that they have merged.
It’s been revealed that the two entertainment agencies have merged last week on March 11. The two companies have completed a MOU contract at the end of August last year, and will now go with the name of MYSTIC89 & Family.
MYSTIC89 had a great year last year, one of a few labels without idols to successfully claim some of the spotlight. Music critics have noted and praised the achievements made from the label, which houses talents Yoon Jong Shin, Lim Kim, Park Ji Yoon, MC Park Ji Yoon (yes, two different people), Puer Kim, Hareem, Kim Yeon Woo, and more.
Family Actors Entertainment is the home to Han Chae Ah, Oh Ji Eun, Shin So Yul, Son Eun Seo, and more.
Both companies expect to propel their influence in music, drama, and variety through the merger by expanding their influence, creating and producing new contents, and actively investing in their businesses.
Lee Hak Hee, CEO of MYSTIC89, stated, “After we signed the MOU contract, our companies have quickly grown. We were able to help each other in areas that we’ve lacked, and experienced the fruits of our collaboration- much more than we’ve anticipated. While watching the situation and growth of our companies, we firmly believe that the merger is more for a brighter future rather than aiming for a growth spurt.”
Yang Byung Yong, CEO of Family Actors Entertainment, stated, “We decided that the two companies will continue to hold onto its respective colors, and the two companies will promote individually or together when it’s needed for a win-win strategy. We hope to do our best to quickly grow. We will aim to produce superior contents in all areas of entertainment and have great marketing.”