Hybe is collecting K-Pop outlets like Monopoly. K-Popopoly, you could say.

Fill me in: As announced last week, Hybe – the South Korean media giant behind K-Pop phenomenas like BTS – has signed a deal to fully acquire Belift Lab, which was launched by Hybe and partner CJ ENM as a joint venture in 2018. Prior to the $114 million sale, CJ ENM had a 51.5% stake in Belift.

Now that Hybe is the sole owner, it will have full creative control over original Belift idol groups; namely, ENHYPEN. The seven-piece boy band debuted in 2020 and has already achieved multiple platinum albums, long ago earning a seat at the table with fellow Hybe-backed groups like SEVENTEEN, TOMORROW X TOGETHER, New Jeans and more.

Belift joins several other labels grouped under the Hybe umbrella, including Big Hit Music, Source Music, Pledis Entertainment, Koz Entertainment and Ador. Hybe America also manages affiliate labels in the States, including Nashville’s very own Big Machine Label Group.

What they’re saying: “Owning a 100% stake in Belift Lab marks a significant step forward in Hybe’s strategic multi-label structure, expanding its content and artist portfolio even further,” Hybe said in a statement.

“Hybe will provide unparalleled support for Belift Lab and its artists,” added Park Jiwon, CEO of Hybe. “We will continue to pursue a partnership with CJ ENM on further promoting K-culture.”