<Anchor >
Bang Si-hyuk Hive, who recently gave up on acquiring
SM Entertainment, said he didn't expect the takeover battle to be so fierce. He also shared the backstory that Lee Su-man said why stop when he could win.

Kim so-hyun, a reporter specializing in culture and arts, will tell you.

<Reporter>

Bang Si-hyuk Hive first apologized to the artists and fans.

[Bang Si-hyuk/Chairman Hive: I was actually very sad and couldn't sleep at night because I was worried about whether it was right for the artists to be in a distressing situation and the fans were suffering. I think it's best to tell them I'm sorry first.]

He said that he could not agree with the view of the acquisition as a win-loss situation, and that he was satisfied with reaching an agreement with Kakao on the platform, which is the most important pillar of the future.

He said he did not expect the market to overheat or the fierce acquisition battle, and said that he stopped the acquisition.

[Bang Si-hyuk/Chairman Hive: The market is so overheated that we can't go into this war while damaging our shareholder value and shaking up the market order.]

After the agreement with Kakao, Mr. Lee's reaction was also conveyed.

[Bang Si-hyuk/Chairman Hive: (Lee Su-man) didn't show any particular emotion. 'Why stop when you can win?' That's all you said, actually.]

Bang Si-hyuk emphasized that everyone talks about the achievements of K-pop, but now that the global market share of major K-pop companies is less than 2% and growth is stagnant, it is time to feel a sense of crisis and prepare for the future.

[Bang Si-hyuk/Chairman Hive: Just as Samsung is in the global semiconductor market and Hyundai is in the global automobile market, I think it is an important time for global entertainment companies to break through the current situation in K-pop.]

He said it's time for fans to choose the space and time they want to communicate with artists, and fandom platforms, the engine of the future, are becoming more and more important.

(Video Editor: Lee Seung-hee, VJ: Oh Se-kwan, Screen Credit: Kwan Hoon Club)