SM Entertainment founder Lee Soo-man registers trademark for new business

Industry

Published: 22 May. 2024, 18:32

SM Entertainment founder Lee Soo-man registers trademark for new business

The former chief producer of SM Entertainment Lee Soo-man has applied for a new trademark titled “A20 Entertainment” on May 3, stirring up speculation that he might be returning to the entertainment industry. [JOONGANG ILBO]

SM Entertainment founder Lee Soo-man may be gearing up for a return to the K-pop industry with a new brand named A20 Entertainment.

Blooming Grace, a company owned by Lee, registered a trademark for A20 Entertainment on May 3, according to the Korea Intellectual Property Rights Information Service (KIPRIS). Numerical classifications can be found in the organization's registration log, each number representing the kinds of products and services that are to be provided by the enterprise.

The classification numbers indicate that A20 Entertainment is set to produce commodities related to entertainment, video game devices, advertising, real estate, clothing, food and beverage services, transportation and design.

The classification numbers indicate that A20 Entertainment is set to produce commodities related to entertainment, video game devices, advertising, real estate, clothing, food and beverage services, transportation and design. [KOREA INTELLECTUAL PROPERTY RIGHTS INFORMATION SERVICE]

Lee founded Blooming Grace after being ousted from SM Entertainment last year in February due to a takeover dispute. Lee sold his SM Entertainment shares to HYBE during the dispute and reportedly spent his time afterward investing in different companies, including Korean AI startup Mindlogic and Chinese drone company eHang.

The contract Lee signed with HYBE regarding the share sale included a noncompete agreement, according to media reports. A noncompete agreement prevents an individual from participating in the same industry for a certain period of time.

Lee has been barred from re-entering the Korean entertainment industry for three years, according to local media reports at the time. Filing for a trademark itself would not conflict with the agreement, but Lee would still have to complete the three-year period to start his entertainment business.

The trademark application has been filed and is pending approval.

BY KIM MIN-YOUNG [kim.minyoung5@joongang.co.kr]