Creation Music Rights Co., Ltd. announced that it will issue 3,000,000 shares at an issue price of KRW 5,000 per share for proceeds of KRW 15,000,000,000 on July 10, 2023. The transaction will include participation from returning investor, SM Entertainment Co., Ltd. The transaction is expected to close on July 17, 2023, and within August, 2023 if delayed. The transaction has been approved by the board of directors of the company.