As K-pop music agencies diversify revenue sources, one of K-pop's largest companies is making life more convenient.
With convenient stores, that is.
SM Entertainment, the K-pop powerhouse behind iconic acts like Girls' Generation, BoA, Super Junior, SHINee, EXO, and many, many others, is entering the Korean convenience store market. On Wednesday, the company unveiled a plan for the new convenience store franchise. The stores will be called Sum Market, and plan to open up around South Korea.
The first Sum Market will open in front of SM Entertainment's office Building in Seoul next month.
SM Entertainment currently operates Sum Gift Shop, which sells products relating to it's K-pop acts, and looks to move into products found at convenience stores, including food and drink. Fans will reportedly be able to purchase Girls' Generation wine, EXO seaweed snacks, Super Junior nuts, and more.
The company is collaborating on the project with Korean retailer SSG.
The news comes shortly after an image leak revealed that SM Entertainment was looking to market food products relating to its artists.
The agency as a whole is moving towards a more overarching business plan. Along with the new franchise, SM Entertainment recently opened up a restaurant in Seoul with plans to expand overseas and also announced localization of K-pop acts by working with overseas music companies as an extension of the company's soon-to-debut boy band NCT.
SM is also working to get into the sports managemnet world, and announced a partnership with IB World last year.
Founded in 1995 by Lee Soo Man, SM Entertainment is the largest celebrity agency in South Korea, with numerous K-pop stars and Korean actors and entertainers signed to its roster.
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Tamar Herman is a multi-media journalist and the co-founder of KultScene. She is a freelance writer and copy editor, and has written for MTV Iggy, Noisey and Paste Magazine.
