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SM True

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SM True Co., Ltd.
Company typePrivate
FoundedJuly 2011; 13 years ago (2011-07)
HeadquartersPhaya Thai,
Bangkok
,
Thailand
Key people
  • Kim Young-min (CEO)
  • Han Kyung-jin (Representative director)
ServicesManagement
Owner
Websitewww.smtruethailand.com
Footnotes / references
[1]

SM True (Thai: เอสเอ็มทรู) is a Thai management[clarification needed] company formed through a joint venture of SM Entertainment and True. The company operates all concerts, promotions, and music and product distribution of SM artists in Thailand and serves as SM's first overseas joint venture.

History

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On August 16, 2011, SM Entertainment and True held an event in Bangkok, Thailand, and announced the establishment of SM's first overseas joint venture, SM True.[2] The then-chief executive officer (CEO) of SM, Kim Young-min, became the CEO of SM True, along with Kangta attending the signing ceremony and press conference as the company's registered director.[3] The signing ceremony was held in two parts at Siam Kempinski Hotel and Parc Paragon inside Siam Paragon.[4] The first part was held for daily newspaper outlets such as Daily News, Thairath, and Bangkok Post, as well as Thai business VIPs, while the second part was for Thai entertainment media and music fans, such as Channel V, The Music Channel 3579, and Seventeen Magazine.[5] SM True was established with a capital of 20 million baht (about 718 million won), with TrueVisions holding 51% of the shares and SM holding 49%.[6]

With the establishment of the company, all activities in Thailand, including concerts and promotions, will be conducted through SM True in the future, as well as albums, digital music, and product distribution of SM artists in Thailand.[7] SM True also planned to operate as a management agency that produces local Thai artists.[8] With the establishment of SM True, SM also planned to expand its business model to a wide range of regions that can "effectively" distribute the company's contents in Asia and worldwide.[9] It was reported that True had a partnership model regarding the metaverse with Zepeto. SM True was mentioned as a partner, including content from TrueVisions, combined to deliver services in Zepeto, forming an ecosystem that connects both in terms of selling products in the form of e-commerce and social community about entertainment.[10]

Controversies

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People had posted a hashtag, "#SMtruePlsAnswer," on Twitter, tagging SM True's official account after a group of people opened a discussion on Space and "hatefully" mentioned Ten, criticized money donations and called birthday project for their favorite artists as "wasteful." During the Space discussion, "sarcastic" remarks and "negative" comments about the artist involved were also used. Additionally, having the right to choose whether or not to give an artist's work was mentioned, along with telling Ten's fans to "behave well," as it may affect the choice of work for the artist. These made the people question the professionalism and transparency of the company's work, with them using another hashtag, "#SMtrueAnswerNow." The people are demanding SM True to explain why someone is impersonating an insider and investigate the situation.[11][12]

References

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  1. ^ "Overview – Group Companies". SM Entertainment. Archived from the original on January 4, 2023. Retrieved January 15, 2023.
  2. ^ Kim, Dong-ha (August 17, 2011). SM, 첫 해외 합작법인 泰 'SM True' 설립 [SM, Establishes First Overseas Joint Venture 'SM True']. MoneyToday (in Korean). Archived from the original on January 15, 2023. Retrieved January 15, 2023.
  3. ^ Lee, Min-ji (August 17, 2011). 강타, SM 첫 해외합작법인 등기이사로 경영 참여 [Kangta, Participates in Management as a Registered Director of SM's First Overseas Joint Venture]. Newsen (in Korean). Archived from the original on January 15, 2023. Retrieved January 15, 2023.
  4. ^ Kang, Seung-hoon (August 17, 2011). SM, 해외 합작법인 'SM True' 설립 [SM, Establishes 'SM True', An Overseas Joint Venture]. TV Report (in Korean). Archived from the original on January 15, 2023. Retrieved January 15, 2023.
  5. ^ Park, Young-woong (August 17, 2011). SM, 泰기업과 첫 해외합작법인 'SM True' 설립 [SM, Establishes 'SM True', The First Overseas Joint Venture with a Foreign Company]. StarNews (in Korean). Archived from the original on January 15, 2023. Retrieved January 15, 2023.
  6. ^ Hyun, Young-bok (August 17, 2011). SM엔터테인먼트, 태국에 합작회사 설립 [SM Entertainment, Establishes Joint Venture in Thailand]. Yonhap News Agency (in Korean). Archived from the original on January 15, 2023. Retrieved January 15, 2023 – via Naver.
  7. ^ Lee, Jung-hyuk (August 17, 2011). SM, 태국 True와 첫 해외 합작법인인 SM True 설립 [SM, Establishes First Overseas Joint Venture with Thailand's True]. Sports Chosun (in Korean). Archived from the original on January 15, 2023. Retrieved January 15, 2023.
  8. ^ Jung, Byung-keun (August 17, 2011). SM, 첫 해외 합작법인 'SM True' 설립 [SM, Establishes 'SM True', The First Overseas Joint Venture]. Segye Ilbo (in Korean). Archived from the original on January 15, 2023. Retrieved January 15, 2023.
  9. ^ Yoo, Sang-woo (August 17, 2011). SM엔터, 태국 사업 직접 한다…현지 자회사 설립 [SM Entertainment, Directs Its Business in Thailand…Establishment of a Local Subsidiary]. Newsis (in Korean). Archived from the original on January 15, 2023. Retrieved January 15, 2023 – via Naver.
  10. ^ กลยุทธ์ ‘ทรู’ รุกเมตาเวิร์ส ผ่านแพลตฟอร์มระดับโลก (Cyber Weekend) ['True' Strategy to Penetrate Metaverse Through a Global Platform (Cyber Weekend)]. Manager Daily (in Thai). September 10, 2022. Archived from the original on September 10, 2022. Retrieved January 15, 2023.
  11. ^ แฟนเดือด! ร้อง SM True ชี้แจง หลังมีอ้างเป็นคนใน ขัดขา-ปัดงานศิลปิน [Furious Fans! Cried SM True to Clarify After Claiming to be an Insider Polished Legs - Brushed Off the Artist's Work]. Khaosod (in Thai). December 19, 2022. Archived from the original on December 19, 2022. Retrieved January 15, 2023.
  12. ^ C, Lalita (December 22, 2022). สรุปดราม่า SM True แฟนคลับเรียกร้องชี้แจง เหตุคนแอบอ้าง-ว่าร้าย 'เตนล์ ชิตพล' [Summary of SM True Drama, Fans Demand Clarification, The reason for Impersonating - Vilifying 'Ten Chittaphon']. Thaiger (in Thai). Archived from the original on December 22, 2022. Retrieved January 15, 2023.
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