SM Entertainment has become the largest shareholder of Mystic Entertainment, which is led by Yoon Jong Shin.
The agency released, “We have acquired 28 percent of stocks from Mystic Entertainment, which is led by PD Yoon Jong Shin, through a strategic investment and have become the largest shareholder.”
Mystic Entertainment has Yoon Jong Shin’s producing capabilities as its foundation and is a comprehensive entertainment contents company that seeks to create new and unique musical content while also managing various singers, actors, and MCs as an artist management agency. It recently branched out into video content creation by bringing in producer Yeo Woon Hyuk.
SM plans to invest in and work with Mystic to expand its global music business spectrum, as well as to help Mystic grow into a global music label by sharing access to global networks, systems, and business talent.
SM and Mystic will also work together to create new music and content for various platforms, including mobile and new media.
Producer Yeo Woon Hyuk is set to work alongside SM C&C, which manages SM Entertainment’s MCs, actors and production teams, to plan and produce dramas, variety shows, movies, and other contents. Their cooperation is set to create a synergy effect that gives them a leg up in global new media industries.
Both agencies stated, “SM and Mystic will work together as partners to create a strong, global synergy that covers a variety of areas such as music, artists, concerts, festivals, and video content creation. We will be able to pursue new content and projects through our cooperation.”