[Edaily Reporter KIM HYUNSIK ] SM ENTERTAINMENT CO., Ltd. announced on the 27th that it has established a joint venture, STE, with China’s Tencent Music Entertainment Group (Tencent Music).

Previously, SM and Tencent Music signed a memorandum of understanding (MOU) in May of last year to establish a framework for cooperation, including the joint production of new idol groups.
Accordingly, the two companies established a joint venture, STE, in Beijing, China, and appointed Jo Mi—who has been active as a member of SUPER JUNIOR-M, the Chinese unit of SUPER JUNIOR—as its CEO.
SM explained, “Through STE, we will move forward with a project for a new Chinese idol group that we are preparing for a debut within the next two to three years,” adding, “STE will lead auditions for artist casting and handle local management in China after the group’s debut.”
Regarding Zhao Mi, who was appointed as CEO, the company explained, “She possesses a deep understanding and expertise in the overall K-pop production system and has also accumulated practical management know-how while serving as a director at SM’s Chinese subsidiary.”
Through STE, SM will also support the activities of its Greater China-based artists. Going forward, STE will be exclusively responsible for managing NCT Dream member Runjun and WayV members Yang Yang and Xiaojun in the Greater China region. The plan is to provide them with more sophisticated localized promotions and support for various entertainment activities.
Jo Mi, CEO of STE, stated, “I am delighted to serve as the CEO of this joint venture, which was established based on the solid trust and strategic vision shared by SM and Tencent Music.” She added, “By combining SM’s unparalleled strengths in intellectual property (IP) and content production with the unique characteristics of the Greater China market, we will present differentiated content and achieve meaningful results as a bridge between the two companies.”