Koreaboo
2 hours ago
Lee Soo Man, key producer and visionary leader of A2O Entertainment, is set to debut a new rookie idol group domestically.
According to A2O Entertainment on February 3, the non-compete agreement on Lee Soo Man will expire at the end of this month. Accordingly, A2O Entertainment, led by Lee Soo Man, is preparing a new boy group aiming to debut in the first half of this year.
The non-compete clause resulted from a stock sale agreement Lee Soo Man signed with HYBE in 2023 when he sold his shares in SM Entertainment to them, including clauses preventing competition and solicitation.
In a management dispute with SM Entertainment’s executives, Lee Soo Man sold his 14.8% stake in SM Entertainment to HYBE, led by chairman Bang Si Hyuk, on February 10, 2023. HYBE announced in March 2023 the suspension of the acquisition process after considering various internal and external factors, effectively ending the management dispute over SM.
Following the non-compete clause agreed upon during the stock sale, Lee Soo Man was restricted from producing in Korea for three years and focused on external activities. He pursued ESG (Environment, Social, Governance) projects overseas and, in early 2024, established the new agency A2O Entertainment through Blooming Grace Co., where he serves as CEO. He debuted the new girl group A2O MAY in 2024.