HYBE Denies Reports Of Their Acquiring Lim Young Woong’s Agency
HYBE has denied reports that they are planning to acquire Mulgogi Music.
On September 3, Korean news outlet Munhwa Ilbo reported that HYBE appeared to be looking into acquiring trot singer Lim Young Woong’s agency Mulgogi Music. According to the report, when asked whether it was true that they had met with Mulgogi Music about the possibility of a merger or acquisition, HYBE replied, “We cannot confirm whether a meeting took place.”
Munhwa Ilbo’s report went on to quote a source claiming that HYBE’s response—and the fact that they did not make a straightforward denial—suggested that such a meeting had, in fact, taken place.
However, later that day, HYBE officially shut down the rumors of an acquisition by denying them outright. The agency stated, “It is not true that we are acquiring [Mulgogi Music].”
As the winner of TV Chosun’s hit audition program “Mister Trot,” Lim Young Woong is currently under an exclusive contract with the network. However, when his contract with TV Chosun expires on September 12 after a year and six months, he will be returning to his original agency Mulgogi Music for his future activities.