On January 27, it was reported that Big Hit signed investment contracts with YG PLUS, a subsidiary of the entertainment company YG Entertainment. According to the contracts, Big Hit will invest 70 billion won to lay the foundation for strategic collaboration, and to cooperate in various business areas such as platforms, distribution, and contents.
Through the collaboration, both the companies will utilize various artists’ IPs in a wide range of business sectors covering the entertainment and lifestyle areas.
Big Hit revealed in a statement: “We look forward to collaborate with YG PLUS, which has a strong network in various fields such as distribution, MD production and more. We will grow together through various collaborations that will affect the overall entertainment and lifestyle sector.”
YG PLUS also responded to the partnership, commenting, “The two companies that have been aiming for the best in their respective fields have created a new era of cooperation.”
In addition, Big Hit disclosed that it was looking forward to signing a huge investment contract of 3548 billion with Naver.