SM Entertainment has established STE, a Beijing-based joint venture with Tencent Music Entertainment, to expand cooperation in the Greater Chinese entertainment market. Led by Super Junior-M member and solo artist Zhoumi as chief executive, STE will audition talent and debut a new Chinese idol group within two to three years, then manage the group. The venture will also provide localized promotions and entertainment support for SM artists including NCT DREAM’s Renjun, WayV’s Yangyang and Xiaojun. The companies’ cooperation follows a memorandum of understanding signed in May last year covering artist recruitment and training, music production, promotions, sales, merchandise, video content and pop-up stores.