HYBE has denied reviews that they’re planning to accumulate Mulgogi Music.

On August 3, Korean information outlet Munhwa Ilbo reported that HYBE seemed to be wanting into buying trot singer Im Young Woong’s company Mulgogi Music. According to the report, when requested whether or not it was true that they’d met with Mulgogi Music about the potential for a merger or acquisition, HYBE replied, “We cannot confirm whether a meeting took place.”

Munhwa Ilbo’s report went on to cite a supply claiming that HYBE’s response—and the truth that they didn’t make a simple denial—recommended that such a gathering had, in actual fact, taken place.

However, later that day, HYBE formally shut down the rumors of an acquisition by denying them outright. The company acknowledged, “It is not true that we are acquiring [Mulgogi Music].”

As the winner of TV Chosun’s hit audition program “Mister Trot,” Im Young Woong is presently below an unique contract with the community. However, when his contract with TV Chosun expires on September 12 after a 12 months and 6 months, he might be returning to his unique company Mulgogi Music for his future actions.

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