'Hybe', the K-pop company said Wednesday it has acquired a 14.8 percent stake in its rival 'SM Entertainment' to become its largest shareholder.

'Hybe' has paid for the purchase earlier than scheduled.

On Feb. 10, the company agreed to buy the shares from SM's founder and former chief producer 'Lee Soo-man' for $335.8 million and said the deal will be sealed on March 6. 'Lee Soo-man' had an 18.46 percent stake in 'SM Entertainment' at that time.

Experts say the deal was aimed to stably end the acquisition process by becoming its largest shareholder as early as possible ahead of a meeting of 'SM Entertainment' shareholders next month.

'Hybe' CEO 'Park Ji-won' said in a message sent to SM's artists and their fans, employees and shareholders.

"We'll actively support 'SM' artists seeking chances to advance into overseas markets using the know-how and global network that we have built so far."

'Hybe' will share its know-how of leading overseas K-pop markets.

'Hybe' is home to global K-pop acts, such as 'BTS', 'Seventeen', 'Tomorrow X Together', 'Enhypen', 'NewJeans' and 'Le Sserafim', while 'SM Entertainment' is the first K-pop agency with 'EXO', 'Red Velvet', 'NCT' and 'Aespa'.