It has been revealed that A Cube Entertainment (CEO Choi Jin Ho) and Loen Entertainment (CEO Shin Won Soo) are working together on a “strategic investment plan.”
On November 25, both sides reported, “The two companies recently concluded a strategic investment plan to strengthen the K-pop business system.” Loen’s investment plan promises to closely review the constant growth and potential of A Cube’s artist management and content production. They have no plans to interfere with A Cube’s executive producing and marketing in order to maintain the agency’s unique identity.
A Cube is a subsidiary of Cube Entertainment and currently manages two artists, girl group A Pink and ballad singer Huh Gak. The artists in the agency are active in all fields of the entertainment industry, from broadcasts to acting, commercials, and music.
Loen, on the other hand, encompasses many fields of the music industry, from production and artist management to online music distribution. In 2009, Loen assumed responsibility for operating SK Telecom’s online music distribution service MelOn, which is currently the top service of its kind in South Korea. Labels under Loen Entertainment include Loen Tree (IU) and Collabodadi (FIESTAR), as well as independent subsidiaries such as Starship Entertainment (SISTAR’s agency). In 2013, the Korea Music Content Industry Association named Loen as the leading record label in South Korea according to revenue.