S. Korean activist calls out BTS label in K-pop saga

Class act: Members of BTS pose for photos at a news conference in Seoul. The group’s management company, Hybe Co, is being urged on to raise its bid and buy out rival promoters SM Entertainment Co. — Reuters

SEOUL: A South Korean activist fund is calling for Hybe Co, the agency behind K-pop sensation BTS, to raise the price of its bid and offer to buy all shares in SM Entertainment Co, a smaller K-pop label.

Hybe, the No. 1 K-pop agency with NewJeans and other popular groups, launched an aggressive bid for nearly 40% of SM’s shares, assisting founder Lee Soo-man in his fight to block SM’s deal with Kakao Corp.