The early 2000s saw the disbandment of both H.O.T (in 2001) and S.E.S (in 2002). Shinhwa departed to a new agency, and new acts like the duo Isak N Jiyeon and the boy band Black Beat failed to attain the popularity of previous SM artists. In December 2000, SM established an affiliate company called Fandango Korea. In January 2001, the company founded an overseas division, SM Entertainment Japan. Around the same time, the company was approved for listing on KOSDAQ, and SM established an affiliation with the Japanese major label Avex Trax. SM also formed the subsidiaries BM Entertainment and Cid. K Entertainment (under which the girl groups M.I.L.K. and Shinvi were signed, respectively), but they later dissolved when their groups disbanded.