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On March 8th, Wang Yi stated that Taiwan has been Chinese territory since ancient times, and it has never been, is, or will ever become a "country." Taiwans return to China was a result of the Chinese peoples victory in the War of Resistance Against Japan and also a fruit of victory in World War II. A series of international legal documents, including the Cairo Declaration, the Potsdam Declaration, the Japanese Instrument of Surrender, and UN General Assembly Resolution 2758, have firmly established Taiwans status. Any attempt to create "two Chinas" or "one China, one Taiwan" internationally is doomed to failure.On March 8th, Wang Yi stated that the Taiwan issue is Chinas internal affair and the core of Chinas core interests; this red line cannot be crossed or trampled upon. We will never allow anyone or any force to separate Taiwan, which was liberated more than 80 years ago, from China again. The international community has reached an overwhelming consensus on upholding the one-China principle. The historical process of resolving the Taiwan issue and achieving the complete reunification of the motherland is unstoppable. Those who follow this path will prosper, and those who oppose it will perish.On March 8, Wang Yi stated that China and India are important neighbors, both located in the South, and share profound cultural ties and broad common interests. Mutual trust and cooperation between the two countries are conducive to common development, while division and confrontation are not beneficial to the revitalization of Asia. Both sides should follow the direction set by their leaders, eliminate interference, and move towards each other.On March 8, Wang Yi said that he hopes the Philippines, during its ASEAN chairmanship this year, will recognize its responsibilities, not be misled by its own interests, demonstrate its due commitment, and play a positive role in promoting regional peace and stability.On March 8, Wang Yi said in response to a question about the South China Sea issue that peace, cooperation, and friendship are the new narrative for the South China Sea. Stirring up trouble is unpopular, and creating trouble out of nothing has no place in the market.

BTS Agency HYBE Aims to Acquire K-pop Competitor SM Entertainment

Charlie Brooks

Feb 10, 2023 11:10

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South Korean entertainment business HYBE announced on Friday that it will acquire $335 million worth of shares in rival SM Entertainment in order to bolster its dominance in the K-pop sector.


The transaction will make HYBE the top shareholder of SM Entertainment, as it acquires a 14.8% stake in its rival from the previous largest shareholder and SM founder, Lee Soo-man, for an 18.4% stake, the company stated in a statement.


"HYBE agrees completely with former Chief Producer Lee's strategic ideas, such as metaverse, a multi-label system, and the sustainable vision campaign," stated HYBE Chairman Bang Si-Hyuk.


The agency HYBE oversees the K-pop supergroup BTS. NCT and Aespa are two further popular K-pop bands that call SM their home.


Friday, HYBE also made an offer for SM shares owned by minority owners, attempting to acquire up to 25 percent of the rival agency in order to acquire managerial powers.


SM, JYP, and YG Entertainment dominated the South Korean pop music industry for many years, until the international success of K-pop boy band BTS made HYBE larger than the other three.


But over the next couple of years, all seven BTS members are slated to complete their military service, beginning with Jin, the group's oldest member, who enlisted in December. The septet will not return in its entirety until 2025.


Kim Do Heon, a music critic, believes that SM Entertainment's large portfolio may prove economically advantageous for HYBE now that the group is on hiatus.


"HYBE grew into a giant, but its flaw was that it lacked a legacy. SM is a corporation that has existed throughout the history of K-pop and will bring its legacy to HYBE "Kim stated.


As of 11:05 a.m., HYBE and SM Entertainment shares were up 6% and 16%, respectively (0205 GMT).


This Monday, the South Korean tech company Kakao Corp announced that it would purchase a 9.05 percent share in SM Entertainment in order to develop cooperative ventures, such as global K-pop auditions.

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