In January 2016, founder Lee Soo-man held a conference at the SM Coex Artium, announcing plans for a new boy group, NCT (Neo Culture Technology), with "unlimited members". The first unit of this group, NCT U, released its first two singles in April 2016. NCT has since expanded to three more units - the South Korea-based fixed unit NCT 127 in July 2016, the youth/teen-aged unit NCT Dream in August 2016, and the China-based WayV in January 2019. WayV is being managed by their own sub-label, Label V.