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"We had such a hard time, and I would rather have more Chinese people come than the government restricting their entry so I can do business." "Tour bus operators who have had their vehicles idly parked for over three years are now gearing up for (bus) inspections," said Thai Tour Bus Association President Wasuchet Sophonsatien. Thailand, Japan, the United States, South Korea, Australia, Macao, Singapore, Hong Kong and Taiwan were the most-searched destinations. Yue Hua Entertainment Korea, which manages Tempest, did not respond to a request for comment. "The pandemic outbreak on the mainland is still vigorous and needs time to recover, while domestic consumption remains weak on the mainland."
Soo-Man Lee on why he founded SM Entertainment
  + stars: | 2022-12-06 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoo-Man Lee on why he founded SM EntertainmentFounder Soo-Man Lee tells CNBC's Chery Kang about his vision for SM Entertainment.
'We need to make Saudi pop music': Soo-Man Lee
  + stars: | 2022-12-06 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We need to make Saudi pop music': Soo-Man LeeSoo-Man Lee, founder of SM Entertainment, talks to CNBC's Chery Kang about his partnership with Saudi Arabia to create Saudi pop music.
Soo-Man Lee on NCT plans, SuperM's comeback
  + stars: | 2022-12-06 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoo-Man Lee on NCT plans, SuperM's comebackSoo-Man Lee, founder of SM Entertainment, spoke to CNBC's Chery Kang on future company plans for new NCT groups, and SuperM's pending comeback.
The metaverse is the future of K-pop: Soo-Man Lee
  + stars: | 2022-12-06 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe metaverse is the future of K-pop: Soo-Man LeeSoo-Man Lee, founder of SM Entertainment, shares with CNBC's Chery Kang about why he believes the future of K-pop lies in the metaverse. He also talks about SM's first metaverse girl band, Aespa.
Gabriel Olsen | Getty Images Entertainment | Getty Images"But when foreign bands come to [South Korea to] perform, they completely took over the stage and fans went wild. Future of K-popAs for the future of K-pop, "I think the metaverse that everyone is talking about these days is the future," Lee says. SM Entertainment established a metaverse world called SM Culture Universe, and launched its first metaverse girl band, Aespa in 2020. SM Entertainment established a metaverse world called SM Culture Universe, and launched its first metaverse girl band, Aespa in 2020. Alexi Rosenfeld | Getty Images Entertainment | Getty Images"SM Entertainment is building 'Play-2-Create'… people can discover their creative side and create in the metaverse.
SM Entertainment declined to say how much the company is investing into its Southeast Asian expansion, but said it's "in the midst of hiring more local talents, which will hopefully increase the full-time staff count." South Korean entertainment company SM Entertainment will be setting up its Southeast Asian headquarters in Singapore as part of its expansion plans in the region. The Singapore headquarters will also be "managing joint ventures in Indonesia, Vietnam and Thailand, as well as communicating with [its South Korea office] for other related ventures and plans." The company is also "looking at hiring local undergraduates or fresh graduates for internships." On top of that, the company plans to launch retail businesses in Singapore, including cafes, merchandise stores and pop-up exhibitions.
Since its launch on Sept. 1, the KPOP and Korean entertainment ETF has not performed well — recently trading on the New York Stock Exchange Arca at $15.05 — a roughly 23% drop from its debut. Shares of Korean entertainment companies have been underperforming overall, with YG Entertainment's stock price down around 26% year-to-date and Hybe down more than 64% year-to-date. The fund is a 30-stock index, which includes entertainment companies that manage bands such as BTS, BlackPink, and Twice — their respective agencies being HYBE, YG Entertainment, and SM Entertainment. Shares of Korean entertainment companies have been underperforming overall. Johnny Nunez | Getty Images Entertainment | Getty Images
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