SM founder Lee Soo-man returns home, in hospital to treat arm fracture

SEOUL– Lee Soo-man, the founder and largest shareholder of SM Entertainment, has recently returned home from an overseas trip, to receive hospital treatment for a fractured arm, sources in the music industry said Wednesday.

The sources said he arrived at Incheon International Airport in Incheon on Tuesday and headed directly to a hospital in Seoul to treat an arm fracture that he sustained during his stay abroad.

They forecast that as he returned home, he will soon respond in earnest to the K-pop agency’s recently announced reform plans centered on introducing multiple music production lines and Kakao Corp.’s acquisition of a 9.05 percent stake in SM to become its second-largest shareholder.

Lee said Tuesday he will take all legal actions against the company’s decision to sell shares to the third party without any consent from him in violation of the Commercial Act.

Source: Yonhap News Agency

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