sm entertainment was established in 1995 with initial capital of 50 million won. in 2000, their shares were registered on the kosdaq market. moreover, sm formed a music investment fund with about 10 billion won in 2001. this was the first of its kind in korea. sm entertainment's revenues grew 53% in 2011 compared to the year before. the company recorded 1686 billion won. the largest shareholder is lee su-man, who owns 21.50% of sm the affiliates of sm entertainment includes sm culture and contents, sm entertainment japan inc., starlight, galgali family entertainment, dream maker entertainment limited, sm amusement, sm f&amp;b development, m studio city, sm brandmarketing, sm entertainment usa inc., and sm krage.