SUPER JUNIOR-M’s Zhoumi has been named the CEO of a Chinese joint venture established by SM Entertainment and Tencent!
On August 27, SM Entertainment announced the establishment of STE, a joint venture with Tencent Music Entertainment Group (TME) in Beijing, China, and appointed Zhoumi as its CEO. The joint venture was established based on a memorandum of understanding signed by SM and TME in May last year.
Building on the partnership between the two companies, STE will oversee SM Entertainment and TME’s project to develop a new Chinese idol group, with the goal of debuting the group within two to three years. The company will handle the entire process from casting auditions to local management in China after the group’s debut.
Beyond the new group, STE will also oversee the local activities of SM artists in the Chinese market. In particular, STE will handle the Chinese management of NCT DREAM member Renjun and WayV members YangYang and Xiaojun, including local promotions and support for their entertainment activities.
Zhoumi said, “I’m pleased to serve as the representative of the joint venture, which was created based on the strong trust and strategic vision of SM and TME. By combining SM’s strengths in IP and content production with the characteristics of the Chinese market, I will present differentiated content and create meaningful results as a bridge between the two companies.”
Source (1)