HYBE Moves to Restructure Entertainment New Business... Subsidiary 'Binary Korea' Merged

HYBE announced on the 31st that it will absorb and merge its subsidiary Binary Korea.

Binary Korea was established in 2022 to conduct preliminary research using new technologies in the entertainment sector. In June of last year, it also launched the fandom platform 'THEUS' in collaboration with Sandbox Network, targeting creators such as YouTubers and streamers.

However, in its third year since establishment, Binary Korea has not achieved business success. Last year's revenue amounted to only 468,441 KRW, while the net loss reached 4.28544 billion KRW.

Accordingly, HYBE is understood to have decided on the merger in line with its recent policy to focus on core businesses such as artist management rather than new technology ventures. HYBE stated in the announcement, "We aim to enhance management efficiency through the merger."