SM Entertainment signs MOU with finance firms

SM Entertainment's president Kim Yeong-min (left), KB Kookmin Card's Choi Gi-eui (middle) and VISA Korea's country manager James Dixon (right) at the signing of the MOU held in Seoul, South Korea on July 25, 2012. [SM Entertainment]

SM Entertainment, the Korean talenthouse representing top iconic stars Super Junior and Girls' Generation, has signed a memorandum of understanding (MOU) with VISA and KB Kookmin Card.

According to SM, the agency's president Kim Yeong-min, VISA Korea's country manager James Dixon and KB Kookmin Card's Choi Gi-eui signed the MOU on Wednesday, establishing a strategic partnership in the mutual development of the entertainment and financial business. With the comprehensive alliance, all three parties will work toward forming a new business model regarding the expansion of entertainment and finance, and developing a platform to create the synergy effect between K-pop and financial content.

"Through the MOU, we intend on seeking out various business models and provide benefits to K-pop fans," an official with SM was quoted as saying.

Additionally, KB Kookmin Card will release the KB Kookmin SMTOWN VISA check card in mid-October, and the two financial firms will co-sponsor SM's forthcoming entertainment exhibition "S.M.ART EXHIBITION" as well as "SMTOWN LIVE WORLD TOUR III in Seoul." The "S.M.ART EXHIBITION," slated to take place for ten days in Seoul's COEX center starting August 10, is SM's collaboration with IT companies to feature the agency's entertainment contents through high-end technology.

It will feature a 3D cinema, life-size holograms that display the artists' performances and a center where people can experience the camera used in film "Matrix" for matrix-style surfing shots.

Meanwhile, the third round of the "SMTOWN LIVE WORLD TOUR," which kicked off at the Honda Center, Anaheim in California on May 20, will open in Seoul ON August 18.

SM's affiliated artists include Girls' Generation, Super Junior, f(x), TVXQ!, SHINee, EXO-K and EXO-M.


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