<div id="readability-page-1"><div><div><p>(May 29): South Korea’s top two K-pop labels are preparing for a long-awaited reopening of the Chinese market, with Beijing widely expected to lift its de facto ban on Korean pop performances later this year.</p> <p>Hybe Co, the company behind K-pop sensation BTS, opened its first office in China last month, signaling renewed confidence in the market. Rival SM Entertainment Co unveiled a strategic partnership with Tencent Music Entertainment Group to launch a Chinese idol group and deepen cooperation on music businesses in China. This week, Tencent Music agreed to buy a nearly 10% stake in SM Entertainment for about US$180 million (RM762.1 million), marking a rare Chinese investment into South Korea in recent years.</p> <p>Both Hybe and SM Entertainment are ramping up their China-focused teams over the past few months. The developments underscore growing market expectations that Chinese authorities are likely lift the informal ban on K-Pop performances in place since 2016, which blocked K-pop acts from holding concerts and appearing on local media.</p> <p>The restrictions were introduced after South Korea’s decision to deploy the US missile defence system strained diplomatic ties.</p> <p>Those expectations have spurred a rally in South Korea’s entertainment-related stocks. Hybe shares are up 40% this year while those of SM Entertainment and Blackpink manager YG Entertainment Inc are both up more than 80%.</p> <p>SM, home to acts including Riize and Aespa, said it plans to debut a China-based idol group within two to three years through its Tencent partnership and stage a live concert in Hong Kong next year.</p> <p>Unlike SM, which had toured mainland China before the ban, Hybe has had limited exposure in the market. The company has focused on expansion in the US and Japan, including the acquisition of Ithaca Holdings, which manages artists such as Ariana Grande and Justin Bieber.</p> <p>No major K-pop concerts have been held in mainland China since a YG Entertainment tour BigBang tour in 2015. All live events require government approval. Boy band Epex was granted permission to perform in Fuzhou this week, but the concert was postponed.</p> <p><i>Uploaded by Magessan Varatharaja</i></p> </div></div></div>

TCTZF

TCEHY

00700

<p>South Korea's K-pop industry is preparing for a comeback in China as expectations grow that Beijing will lift its ban on Korean pop performances. Major labels Hybe Co and SM Entertainment are expanding their operations in China, with Hybe opening its first office and SM forming a partnership with Tencent Music. SM plans to debut a Chinese idol group and has seen a significant investment from Tencent. The anticipated reopening has led to a surge in entertainment stocks, with Hybe shares up 40% and SM's shares up over 80% this year.</p>

- South Korea's top K-pop labels, Hybe Co and SM Entertainment, are preparing for the anticipated reopening of the Chinese market as Beijing is expected to lift its ban on Korean pop performances.  
- Hybe recently opened an office in China, while SM announced a partnership with Tencent Music to launch a Chinese idol group and received a significant investment from Tencent.  
- The expected lifting of restrictions has led to a surge in entertainment stocks, with Hybe shares rising 40% and SM Entertainment shares increasing over 80% this year.

K-pop gears up for China comeback after decade-long ban