SM Becomes First K-pop Entertainment Company to Win '100 Million Dollar Export Tower' and More

Jang Cheolhyuk, Co-CEO of SM Entertainment, is receiving the '100 Million Dollar Export Tower' and 'Service Tower' awards at the 62nd Trade Day ceremony on the 4th. Provided by SM Entertainment

SM Entertainment announced on December 5 that it became the first K-pop entertainment company to receive both the '100 Million Dollar Export Tower' and the 'Service Tower' awards at the Trade Day ceremony.

At the 62nd ceremony held at COEX in Seoul the previous day, Jang Cheolhyuk, Co-CEO of SM, stated, "This is a moment that recognizes 30 years of efforts contributing to the global spread of K-pop," and added, "As a company leading the globalization of K-content, we will continue to pursue challenges and innovation."

SM commented, "Over the past several decades, we have expanded our overseas sales by focusing on music, content, and intellectual property (IP) businesses," and emphasized, "It is especially meaningful to receive these awards in the year of our 30th anniversary."

The Trade Day ceremony is hosted by the Ministry of Trade, Industry and Energy and organized by the Korea International Trade Association to honor companies and individuals who have contributed to expanding national exports. Established in 1964 to commemorate Korea achieving 100 million dollars in exports, the event presents the 'Export Tower' to companies that record annual exports of at least 1 million dollars.