Reports: HYBE Acquires All BELIFT LAB Shares and Makes It a Subsidiary

On the 10th, HYBE announced that it signed an agreement to acquire 51.5% of BELIFT LAB’s shares from CJ ENM.

With this, HYBE will hold 100% of BELIFT LAB’s shares. The share acquisition process is expected to be completed once approval from relevant authorities is obtained. Once all procedures are completed, BELIFT LAB will become a wholly owned subsidiary of HYBE.

BELIFT LAB is a company established in September 2018 as a joint venture between HYBE and CJ ENM. Under a joint management policy, HYBE’s COO Taeho Kim served as CEO of BELIFT LAB, while CJ ENM representatives also participated on the board of directors.