The biggest stock deal in the ̾k̾o̾r̾e̾an entertainment industry is attracting the attention of all the fans and investors. Following this morning's announcement by Bang Shi Hyuk and Lee Soo Man about the stock transfer, the stock market fluctuated dramatically.

However, this deal does not seem to be going smoothly due to the opposition of SM shareholders, especially the two top CEOs - co-CEOs of SM Entertainment Lee Sung Soo and Tak Young Jun. The two stated in a recent video before the board of their vehement opposition to this deal between Lee Soo Man and Bang Shi Hyuk.

Here's how the story unfolds between HYBE and SM's acquisition:

This morning, the ̾k̾o̾r̾e̾an entertainment industry was shσcked after the news that the Chairman of HYBE - Bang Shi Hyuk bought all the shares of Lee Soo Man - the father of SM. Previously, the stock market fluctuated when SM was facing internal scandals when one party transferred shares to Kakao Talk while the other party was known to sell shares to another big man.

This morning, the story became clear when Lee Soo Man announced that HYBE owns all of his shares in SM, becoming the largest shareholder of this company. In it, Lee Soo Man and Bang Shi Hyuk shared about their common vision and direction in developing Kpop.

 YBE announced it had purchased shares from SM Entertainment’s founder, Lee Soo Man, making it the largest shareholder in the company. HYBE stated: "We signed a contract on February 8 to acquire a 14.8% stake, or 3,523,420 shares, in SM Entertainment that were previously held by Lee Soo Man."

The shares are expected to be transferred at a valuation of ₩120,000 KRW (about $94.90 USD) each, meaning the entire deal will be worth ₩423 billion KRW (about $334 million USD). The deal is expected to be finalized on March 6.

While, SM Entertainment‘s Co-CEOs Lee Sung Soo and Tak Young Jun, along with 25 of the company’s top executives, released a statement declaring they were against HYBE‘s purchase of SM Entertainment shares.

In response, SM Entertainment’s Co-CEOs, as well as its 25 top executives, released a statement stating that they were firmly against HYBE’s acquisition. They were strongly against HYBE‘s purchase of SM Entertainment shares.

SM Entertainment Co-CEOs and Executives said that: "As SM is about to make its leap forward into its SM 3.0 era, in which the company will transition to once again become a fan-centric, shareholder-centered company, we would like to make it clear that all employees and artists, together, are against the hostile M&A."

In their statement, SM Entertainment’s Co-CEOs outline the importance of SM 3.0 to the company’s future while once again stating their desire to move away from Lee Soo Man’s influence.

Through SM 3.0, we will begin a new chapter. We will move away from the past in which one person reaped all authority and its awards, and instead, through experts in their fields and collective intelligence, we will enhance our artists and share the joys and awards together.

More over, they added that: "SM Entertainment will walk each step with our employees and shareholders as we prepare to take our new leap forward. We ask that you watch us and support us."

Meanwhile, HYBE’s chairman, Bang Si Hyuk, and SM Entertainment founder Lee Soo Man released a joint announcement announcing their own vision for SM Entertainment’s future.