Big Hit to change its name to HYBE

Big Hit Entertainment's logo. [BIG HIT ENTERTAINMENT]

Big Hit Entertainment, the company behind K-pop phenomenon BTS, is planning to change its name to HYBE.

The company will put the proposal on the agenda of an annual general shareholders meeting scheduled for March 30.

Big Hit Entertainment has acquired entertainment companies such as Pledis Entertainment, Source Music and KOZ Entertainment, establishing a multi-label system. The agency has also expanded its business beyond music, launching the mobile and web platform Weverse for fan activities and the streaming platform VenewLive for online concerts.

The name change may be an attempt to redefine its public image as it expands.

In a ceremony celebrating Big Hit’s stock market debut last October, Chairman and CEO Bang Si-hyuk announced the company’s aspiration to “becoming the world’s best entertainment lifestyle platform company that affects every aspect of everyone’s life.”

BY HALEY YANG [yang.hyunjoo@joongang.co.kr]