Sanrio Shares Plunge as Q1 Profit Miss Overshadows Strong Sales 
Anthropic Eyes $6B Decart AI Acquisition Ahead of Mega IPO 
Asian Stocks Rise as AI Chip Rally Lifts South Korea, Japan 
Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
Asian Currencies Steady as Dollar Holds Firm After U.S. Inflation Data 
Tesla Roadster Reveal Could Feature SpaceX Thrusters in August 
Oil Prices Slide as OPEC, IEA Cut 2026 Demand Forecasts 
US Dollar Holds Firm as Fed Outlook and Iran Tensions Keep Markets on Edge 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
European Stocks Rise as U.S. Inflation Data Eases Fed Rate Hike Fears 
J.P. Morgan Upgrades SanDisk, Sets $2,250 Price Target on AI NAND Growth 
Bank of America to Buy Up to 49.9% Stake in Jio Credit for $1.92 Billion 
Paramount Skydance Clears Regulatory Hurdles for Warner Bros. Discovery Deal 
Pandora Shares Rise as Q2 Results Beat Forecasts, 2026 Outlook Raised 
Goldman Sachs Eyes Investors for Nvidia’s $500 Billion AI Financing Plan 
UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
Add as a preferred source on Google
Com2uS Studios acquires a 4.2% stake in SM Entertainment, and this is said to be equivalent to 990,000 shares. The South Korean mobile and online game developer and publisher is reportedly investing a total of $47 million or about KRW70 billion in this stake purchase that was revealed on Tuesday, Nov. 1.
As per Korea Joongang Daily, Com2uS’s deal will be crucial to SM Entertainment’s founder and producer, Lee Soo Man, at the company’s next shareholders' general meeting, which was scheduled for March 2023. On Monday, the entertainment firm’s shares closed at KRW71,100 or $50.
In a statement, the game publisher said that its latest investment in SM Entertainment was not carried out to make the entertainment firm lean in its favor. It explained that it acquired some stake as it thinks that the company "is being under-valued and has a high growth potential for the future."
“SM Entertainment is one of the best entertainment companies that have led to the popularization of Korean popular culture around the world,” Com2uS further stated. “It has sold foundations with a 700-billion-won revenue and 130-billion-won net profit in 2021 and holds the most diverse artist portfolio among K-pop agencies.”
The tie-up between Com2uS and SM Entertainment will give the former the opportunity to bring and incorporate its technologies with the former’s intellectual properties of IPs, including special visual effects and computer graphics. For SME, it will be able to use the gaming firm’s visual technology for its online concerts and other virtual activities.
Meanwhile, The Korea Economic Daily reported that having Com2uS aboard is beneficial to Lee Soo Man, and ahead of the general meeting next year, it was reported that three top executives that have been supporting the SME founder, such as the co-CEO Lee Sung Su would complete their terms in the company’s board.
Com2uS also has plans to expand its business and the metaverse industry. Using its link to SM Entertainment may make it easier for the company to reach its goal, as the entertainment company’s IP in the digital space is already expansive.
