South Korean entertainment companies are investing and searching for talent in Vietnam. For example, SM Entertainment announced plans for a Vietnamese sub-unit of the Korean boy group NCT, which executive producer Lee Soo-man called "NCT-V", to promote V-pop globally. Lee also said that Vietnamese culture is extremely similar to Korean culture, which is favorable for both countries in terms of global expansion. In 2018, SM Entertainment hosted their annual Global Audition in Hanoi and Ho Chi Minh City for the first time ever. Cube Entertainment held an audition session in 2018. On January 11–13 in 2019, Big Hit Entertainment established a joint venture with entertainment company CJ E&M to host an audition called the "2019 Belift Global Audition". SBS also announced that popular variety show "Running Man" will be getting a Vietnamese version. These are prime examples of the "Hallyu" wave and the rising K-pop popularity in Vietnam.