Years after Paul Singer’s Elliott Management launched bitter battles against Samsung and Hyundai Motor, South Korea is warming to a new face of shareholder activism — one that’s local, vocal and young.

Hybe, the label behind boyband sensation BTS, has made a partial tender offer for SM Entertainment, another big K-pop agency.

A homegrown investor activist, Align Partners Capital Management, says Hybe should pay more and buy the entire company. SM’s shares have climbed above the offer price, showing that investors are listening — and expect a better bid.