True Group, in Collaboration with S.M. Entertainment from South Korea,Establishes a Joint-Venture “SM True Co., Ltd.”To Bring A New Era of Entertainment to Thailand
Bangkok: August 16, 2011 – True Group’s True Visions Plc, has joined forces with the leading entertainment company from South Korea, S.M. Entertainment Co., Ltd., to co-invest in Thailand’s entertainment industry with the establishment of a joint venture, SM True Co., Ltd. The new company will have exclusive rights to license and distribute all SM products, including CDs and digital music sources as well as merchandise in Thailand. It will also act as the management agency for SM artists in Thailand. This cooperation will bring SM artists from South Korea closer to Thai fans which will drive forward TrueVisions’ entertainment business within True Group. Furthermore, the Thai entertainment business will be able to expand in Asian, offering Thai artists an opportunity to enter the global stage.
Attending the opening event of SM True Co., Ltd. are executives from both the investing companies, S.M. Entertainment Co., Ltd. from South Korea represented by Mr. Kim Young-Min, Chief Executive Officer, and Mr. Han Se Min, Director of Strategic Planning Division; and from True Group, led by Mr. Soopakij Chearavanont, Chairman of TrueVisions Plc., Mr. Narong Chearavanont, Director of TrueVisions Plc, Mr. Thiti Nantapatsiri, Managing Director of TrueVisions Plc, and Ms Sasithorn Khunudomsub, Chief Operating Officer of SM True Co., Ltd.
Mr. Thiti Nantapatsiri, Managing Director of TrueVisions Plc, said that True Group’s TrueVisions is very honored to have S.M. Entertainment Co., Ltd., the leader in South Korea’s entertainment industry, as its partner in establishing the joint-venture company SM True Co., Ltd. As a licensed agent, this new company will manage SM artists including concerts and events, digital content and distribution of related products. This collaboration is in line with True Group’s vision as the leader in convergence lifestyle to fulfill the various needs of Thai customers by bringing a variety of content across True group’s convergence platforms. This joint venture will bring out the strengths in music industry of our leading partner from South Korea to further the entertainment business of TrueVisions under True Group, and introduce a new dimension in the Thai entertainment industry. The globally renowned licensing companies can join the investment with domestic partners so that Thai fans can get closer to and enjoy entertainment at a regional level. Furthermore, it is a good opportunity for Thai artists to step into the Asian platform, which will elevate the standard of the Thai entertainment for the global market.
Mr. Han Se Min, Director of Strategic Planning of S.M. Entertainment Co., Ltd., said that S.M. Entertainment is very proud to learn that its artists, such as TVXQ, Girls’ Generation, SHINee, BoA and f(x) have been well-received by fans around the world, boosting the company’s confidence in entering various markets worldwide. The company is very careful in choosing the country and market as well as the right partner. S.M. Entertainment decided to establish a joint-venture company in Thailand with TrueVisions since it considers the latter’s potential in conducting an integrated business. In addition, TrueVisions is a leading company that provides the most varied content in Thailand and has insight to fan clubs’ lifestyles and needs. It is certain that the operation of SM True Co., Ltd. will be well received according to the company’s determination to bring SM artists closer to their fans. It hopes that Thai fans will support artists of S.M. Entertainment and follow the exciting activities of SM True that will take place in the future.