SM Entertainment, home to such K-pop acts as NCT 127 and Red Velvet, and internet giant Kakao endured a bit of Succession -worthy drama earlier this year when the latter said it would buy a 9.05% stake in SM against the wishes of Lee Soo-man, SM's founder. Lee then approached HYBE founder and chairman Bang Si-hyuk with an offer to sell about 80% of his SM shares to the rival K-pop company.