SM, Tencent Music launch joint venture to develop new Chinese idol group

SM Entertainment has established a joint venture with Tencent Music Entertainment Group in China, named STE, to develop a new Chinese idol group. The venture is based in Beijing and aims to debut within two to three years. Zhoumi, a member of Super Junior-M and solo artist, has been appointed CEO, bringing extensive experience in both K-pop and Chinese entertainment management. STE will oversee auditions, artist casting, and local management for the new group. Additionally, STE will expand its role in managing SM artists active in the Greater China region, including Renjun of NCT Dream, Yangyang and Xiaojun of WayV, providing localized promotions and support. The joint venture follows a memorandum signed in May to strengthen cooperation between SM and Tencent Music.