[Featured Stock] SM Rises Strongly... Lee Soo-man Parts Ways with 'Like Planning'
[Asia Economy Reporter Hwang Junho] SM Entertainment (SM) is showing strong performance amid news of early termination of the contract with Like Planning, a personal company of executive producer Lee Soo-man.
As of 3:06 PM on the 14th, SM is trading at 69,200 KRW, up 6,000 KRW (9.49%) from the previous close.
On this day, SM announced through a public disclosure, "The company received a notice of early termination of the producing license contract from Like Planning on the 15th of last month, and through a board resolution on the 14th, decided to terminate the contract early as of December 31."
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Prior to this, activist fund Align Partners Asset Management (hereafter Align Partners) sent open shareholder letters to SM in March and August, demanding the termination of the contract with Like Planning.
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