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

On August 3, Korean information outlet Munhwa Ilbo reported that HYBE gave the impression to be wanting into buying trot singer Lim Young Woong’s company Mulgogi Music. According to the report, when requested whether or not it was true that that they had met with Mulgogi Music about the opportunity of 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 an easy denial—prompt that such a gathering had, in reality, 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,” Lim Young Woong is at the moment beneath an unique contract with the community. However, when his contract with TV Chosun expires on September 12 after a yr and 6 months, he can be returning to his authentic company Mulgogi Music for his future actions.

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