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HYBE has denied rumors that they are in the process of acquiring Lim Young Woong‘s agency Mulgogi Music.
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Earlier today, one media outlet reported that HYBE had a meeting with Mulgogi Music to discuss a possible acquisition, which would put Korea’s top two artists currently in BTS and Lim Young Woong under the same umbrella agency.
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HYBE stated, " It is not true that we are acquiring Mulgogi Music. We cannot confirm whether there was a meeting or not. "
Currently, BTS and Lim Young Woong are Korea’s top two most popular artists, with BTS reigning supreme with the younger population and Lim Young Woong dominating the older population.
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HYBE has already officially acquired Source Music, Pledis Entertainment, and KOZ Entertainment, and are still eyeing the potential acquisition of more agencies, including SM Entertainment.