JYP Entertainment Corporation (KOSDAQ:A035900) acquired an additional 14.14% stake in Dear U Co., Ltd. from SM Studios Co., Ltd. for KRW 13 billion on June 4, 2021. As per the terms of the agreement, SM Studios Co., Ltd. acquired 2.6 million shares in Dear U Co., Ltd. and as a result of the transaction SM Studios Co., Ltd. will hold 23% stake. In 2020, Dear U Co., Ltd. reported as total assets of KRW 13.6 billion, total debt of KRW 15.9 billion, total revenues of KRW 13 billion and negative net income of KRW 2.7 billion.

JYP Entertainment Corporation (KOSDAQ:A035900) completed the acquisition of an additional 14.14% stake in Dear U Co., Ltd. from SM Studios Co., Ltd. on June 4, 2021.