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Seven leading Korean entertainment companies gathered to establish MCPA, a new K-Pop music video content distribution and management corporation.

Last Thursday, representatives from SM Entertainment, FNC Entertainment, Big Hit Entertainment, JYP Entertainment, Mystic Entertainment, YG Entertainment and Star Empire Entertainment held a signing ceremony at the Seoul Park Hyatt Hotel to declare the establishment of MCPA – Music & Creative Partners Asia Co, Ltd.

The new company is equivalent to the Korean version of Vevo. MCPA will distribute and manage K-Pop music videos to global digital streaming platforms such as YouTube and is planning to create a new video hub for K-Pop music videos.