SM Entertainment is looking to expand their presence in the Chinese market by collaborating with China’s biggest portal site Baidu.
On May 8, SM Entertainment chairman Lee Soo Man met with Baidu Group’s CEO Robin Lee to sign a memorandum of understanding (MOU). SM Entertainment, SM C&C, Baidu, and Baidu’s online video service iqiyi will be part of this MOU.
As per agreement, Baidu and iqiyi will have a say in distributing SM’s music and music video in China, while contirbuting to SM’s development of artists, new programs and K-pop online communities in China.
Baidu will also invest in advertising and marketing for SM Entertainment.
This MOU came into fruition after Robin Lee attended the “SM Town Live World Tour III in Beijing” concert last October.
At the agreement, Lee Soo Man and Robin Lee were also joined by popular SM group Exo-M.