As crossover K-pop single “Cupid” by FIFTY FIFTY hones in on nearly half a year on the Billboard charts, the Korean record label behind the group, ATTRAKT, has secured a multimillion overseas investment.

On August 31, Singaporean investment company Evergreen Group Holdings announced its promise to pull an investment of nearly $7.6 million (about 10 billion Korean won) for the K-pop agency by the end of September. Prior to the announcement, Evergreen Group Holdings’ CEO David Yong (the businessman, lawyer and, recently, a K-pop singer himself) and ATTRAKT CEO Jeon Hongjun (the music exec who is also listed as CEO of Star Crew Entertainment, home to K-pop star Ha Sung Woon before he left in late 2021) signed a memorandum of understanding in hopes of securing more investments.

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