2 entertainment giants tapped to join business lobby groupSM Entertainment and YG Entertainment, the nation’s leading entertainment companies, were among 54 companies that became members of the nation’s largest business lobby group, the Federation of Korean Industries, yesterday.
SM Entertainment is known for its female K-pop group, Girls’ Generation, while YG Entertainment represents Psy and the popular K-pop band Big Bang.
Other companies that newly joined FKI were SPC, which is known for its bakery franchise, Paris Baguette, as well as the nation’s leading tourist agency, Hana Tour, Starbucks Korea and the accounting firm Samil PricewaterhouseCoopers.
The FKI said in a statement that it has added the service industry as well as companies in new business areas such as entertainment in order to increase its representation as an economic organization.
Current members include the five major family-owned conglomerates: Samsung, Hyundai Motor, SK, LG and Lotte.
However, the nation’s top two Internet portal companies, Daum and Naver, were not accepted as members.