비즈엔터

▲HYBE Chairman Bang Sihyuk (from left), Lucian Grange, chairman and CEO of Universal Music Group, and Scooter Braun, CEO of HYBE Americas.(HYBE)

HYBE(KOSPI 352820) is up significantly. The company's global music distribution agreement with Universal Music Group(UMG), the world's largest music company, and the news of the comeback of the group NewJeans seem to have had a positive impact.

HYBE closed the day at 224,000 won, up 6.92% or 14,500 won from the previous trading day on the KOSPI market.

Earlier in the day, HYBE announced that it has signed a global distribution agreement with Universal Music Group(UMG). Universal Music Group will be the exclusive global distributor of physical and digital music released by HYBE's labels for the next 10 years. The distribution agreement covers existing HYBE labels as well as new labels coming under the Hive umbrella.

Universal Music Group plans to further strengthen its music portfolio through the partnership, and HYBE will accelerate its global expansion strategy by working with Universal Music Group.

Universal Music Group will also support the promotion and marketing of HYBE labels' artists in North America.

Meanwhile, HYBE's label ADOR announced that it will release a double single on May 24 and June 21 in Korea and Japan. It also announced that following the single releases, it will hold a fan meeting at Tokyo Dome on June 26-27 to mark the debut of its Japanese activities.