Insiders Claim SM Entertainment’s Lee Soo Man Plans To Invest 1 Billion Won Into LOONA

Lee Soo Man previously worked with LOONA on their new album.

According to insider claims, SM Entertainment’s founder and chairman Lee Soo Man is planning to invest a staggering ₩1 billion KRW ($825,000 USD) into LOONA and their company, BlockBerry Creative.

When LOONA released their latest album, #, fans were shocked to learn that Lee Soo Man had participated in its discussion. Lee Soo Many is esteemed for his contributions to the music of SM Entertainment groups like Red Velvet and EXO, but this was the first time he’d collaborated with a group outside of his own agency.

On Idol Radio, LOONA’s Yves said the group was very thankful that Lee Soo Man saw potential in them and decided to work with them. She also revealed that LOONA caught his eye when he saw their cover of NCT 127’s “Cherry Bomb”.

Now, on February 28, Ilgan Sports reports that according to industry insiders, Lee Soo Man is planning to invest ₩1 billion KRW ($825,000 USD) into BlockBerry Creative. According to the alleged claims, the investment is not related to SM Entertainment in any way.

The report states that SM Entertainment has denied all claims, but inside sources still say that Lee Soo Man and BlockBerry Creative are currently in close discussions over the details. Since BlockBerry Creative hinted that they would be working alongside Lee Soo Man ahead, there’s definitely a possibility that the investment could become a reality.

Source: Ilgan Sports