March 12, 2019 13:14
Entertainment giant CJ E&M has teamed up with Big Hit Entertainment, the talent agency representing superstar boy band Bangtan Boys, also known as BTS, to manufacture a new K-pop band.
CJ on Monday said it has established a joint venture, called Belif Lab, with Big Hit Entertainment with an investment of W7 billion (US$1=W1,134).
Belif Lab plans to hold open auditions in Korea and other countries including Japan and the U.S., starting in Seoul on March 30, for the new boy band tentatively scheduled to debut in 2020.
Big Hit Entertainment CEO Bang Si-Hyuk will be in charge of producing the group.
According to the Hyundai Research Institute in December last year, BTS brings benefits worth more than W5 trillion a year to the economy as the boys attract many foreign fans to the country and spur spending on merchandise.
The two companies hope to mold the next BTS who will continue their global momentum.
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