Hive Acquires Full Stake in Belieflab... Subsidiary Integration

Acquired 51.5% Stake, Included as a Consolidated Subsidiary
Seeking Advancement Based on Multi-Label Strategy
HYBE-CJ ENM Continue Progressive Partnership

HYBE will acquire the entire stake of Belift Lab and incorporate it as a subsidiary. On the 10th, HYBE announced, "We have signed a contract to acquire 51.5% of Belift Lab's shares from CJ ENM." With this, HYBE will hold 100% of Belift Lab's shares. Once the share acquisition process is completed, Belift Lab will become a wholly owned subsidiary of HYBE.

Belift Lab was established in September 2018 as a joint venture between HYBE and CJ ENM. One of its notable achievements has been the boy group ENHYPEN. ENHYPEN has emerged as a next-generation leader by becoming a million-seller artist. This acquisition of Belift Lab shares by HYBE was carried out as part of HYBE's mid- to long-term growth strategy to advance its ‘multi-label (record planning company) system.’

HYBE's multi-label system focuses on allowing labels that express their own musical identity to exercise independent authority. This system is possible because all labels exist as independent corporations while being subsidiaries of HYBE. With the acquisition of Belift Lab shares, HYBE's multi-label lineup is expected to be further advanced. Meanwhile, HYBE and CJ ENM plan to continue their cooperation to promote K-culture even after the transfer of Belift Lab shares is completed.

Park Ji-won, CEO of HYBE, stated, "HYBE will spare no support to ensure the continuous growth of Belift Lab and its artists," and added, "We will maintain a constructive cooperative relationship with CJ ENM even after the acquisition of Belift Lab shares."

This content was produced with the assistance of AI translation services.