BTS's agency Big Hit Entertainment's acquisition of Pledis Entertainment has been approved by the Fair Trade Commission.
The FTC decided that Big Hit's acquisition of Pledis had no fear of limiting market competition.
Big Hit acquired 85% of Pledis shares in May to June and reported a business combination to the Fair Trade Commission on June 18.
Big Hit is an agency that has idols such as BTS, Girlfriend, and Tomorrow by Together as their celebrities.
Pledis is also a company that specializes in planning and managing idols, which include Seventeen and NU'EST.
The FTC said that it took into account the existence of leading competitors such as SM, YG, and JYP, as well as the existence of comprehensive entertainment companies such as Kakao M and CJ E&M, and the fact that their market share and market concentration were not high even after the merger.
(Photo = Courtesy of Big Hit Entertainment, Yonhap News)