Hybe acquires U.S. PR agency

K-pop giant Hybe said Friday it has acquired a U.S.-based public relations agency as part of its strategy to bolster the PR capabilities of its American unit. According to Hybe's semi-annual report, The Agency Group PR LCC, a non-listed company based in Santa Monica, California, has been added to the list of its consolidated subsidiaries through an equity acquisition. The Agency Group PR, whose main business is public relations, is now a subsidiary of Hybe America, with Hybe holding a 51 percent stake. "We acquired the PR agency early this year as part of our efforts to strengthen the public relations resources of Hybe America," a Hybe official said, speaking on condition of anonymity. Source: Yonhap News Agency