As one of Korea’s leading entertainment companies, SM Entertainment recently expanded their business by starting a travel and tourism business. Now it seems there will be even further expansion, as the agency will embark on their very own dining business.
On April 23rd, SM Entertainment revealed that they have partnered with Kraze International to launch a new joint venture business, ‘SM Kraze‘.
SM Kraze will build upon the current Hallyu phenomenon and develop itself as a global business by advancing overseas, creating a steppingstone into the international dining market.
SM Kraze will reflect upon the demands of the consumers and create a new culture of dining by grafting various E-factors, creating a new business model in the restaurant business by fusing entertainment and fine dining.
SM Kraze will be launching their very first ‘new style of PUB’ flagship store in Chungdam-dong within the first half of the year.
In related news, SM Entertainment has also acquired a large portion of shares from BT&I, South Korea’s fifth largest travel management corporation that is listed on KOSDAQ.