Question: What was formed by the largest entertainment company in South Korea?

Context paragraphs:
Red Velvet discography: The discography of the South Korean girl group Red Velvet consists of one studio album, five extended plays, and twelve singles. Red Velvet was formed by the Korean entertainment company S.M. Entertainment in 2014, and consists of five members.

Heewon Entertainment: Heewon Entertainment Co, Ltd. (hangul: Korean: ㈜희원엔터테인먼트 ) is a South Korea's toy, animation and entertainment company.  headquartered in Guro-Dong Guro-Gu Seoul, Korea.  established in 1994.  It is a Korean animation and Japanese animation products.  also produces an anime review entertainment, Korea; as well as a Korean-language version of Battle Beadman, Fire Beadman and Beyblade animation, and a called Jang Geum's Dream.  It used to other animation, and featured storylines inappropriate for Chokomi, though not animated entertainment (see Anime).

YG Entertainment: YG Entertainment Inc. (Korean: YG 엔터테인먼트) is a South Korean entertainment company established in 1996 by Yang Hyun-suk.  The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house.  In addition, the company operates a number of subsidiary ventures under a separate public traded company - YG PLUS, which includes a clothing line, a golf management agency, and a cosmetics brand.  It is currently one of the largest entertainment companies in South Korea.

S.M. Entertainment: S.M. Entertainment () is a South Korean entertainment company established in 1995 by Lee Soo-man.  It is currently one of the largest entertainment companies in South Korea.  The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house.

Working hours in South Korea: Working hours in South Korea are quite long compared to other OECD countries because the working hours are related to Korean economic growth.  Since the 1960s, economy of South Korea was begun to transform from agricultural economy]] into industrialized and high-technological economy.  The South Korea’s per capita GDP sharply increased from US $100 in 1963 to US $35,300 in 2014 and finally South Korea becomes the country that has 20th largest economies in the world.  In the process, many workers have contributed to increase GDP of South Korea and therefore working hours continuously increase at the same time.  According to a research on OECD website, working hours in South Korea were 2,124 per worker in 2014.  The figure shows Korea ranks 3rd highest working hour country compared to 1,789 hours in U.S., 1,677 hours in UK, and even the shortest 1,366 hours in Germany.  In addition, the hourly minimum wage in South Korea is 6,030 won ($5.30) in 2016 and it will be increased to 6,470 won ($5.69) by the South Korean Minimum Wage Council in 2017.

Time Warner: Time Warner, Inc. is an American multinational mass media and entertainment conglomerate headquartered in New York City.  It is currently the world's third largest entertainment company in terms of revenue, after Comcast and The Walt Disney Company.  It was also once the world's largest media conglomerate.  Time Warner was first founded in 1990, with the merger of Time Inc. and Warner Communications.  The current company consists largely of the assets of the former Warner Communications (as well as HBO, a Time Inc. subsidiary prior to the merger), and the assets of Turner Broadcasting (which was acquired by the company in 1996).

Pakistanis in South Korea: South Korea has one of the largest Pakistani diaspora community in Asia, numbering 7,000 according to 2004/05 Pakistani government figures, or 10,423 according to 2013 South Korean government figures.  South Korea also remains a popular education destination for many Pakistanis.  Apart from hundreds of self-funded Pakistani students studying in South Korean universities, Pakistan Higher Education Commission has also been sending hundreds of Pakistani students to study for MS and PhD degrees in South Korea.  There were 1,420 Pakistanis who have married Korean women between 2001-2010 and settled permanently in South Korea.  Pakistanis make a large representation of South Korea's Muslim community.

Workers' Party of Korea: The Workers' Party of Korea (WPK) is the founding and ruling political party of the Democratic People's Republic of Korea (North Korea), and the largest party represented in the Supreme People's Assembly.  The WPK is the sole governing party of North Korea, although it coexists "de jure" with two other legal parties making up the Democratic Front for the Reunification of the Fatherland.  It was founded in 1949 with the merger of the Workers' Party of North Korea and the Workers' Party of South Korea.  The WPK also controls the world's 5th largest armed force – Korean People's Army.  This political party (and all of the other parties in the DPRK) remains illegal in South Korea (officially the Republic of Korea) under South Korea's own National Security Act and is sanctioned by Australia, the European Union, the United Nations and the United States.

JYP Entertainment: JYP Entertainment Corporation (Korean: JYP 엔터테인먼트) is a South Korean entertainment company established by Park Jin-young in 1997.  The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house.  It is currently one of the largest entertainment companies in South Korea.

CJ E&amp;M Film Division: The CJ E&M Film Division (CJ E&M 영화사업부문 - doing business as CJ E&M Pictures), formerly known as CJ Entertainment (), is a South Korean entertainment company which is involved in film production, investment, distribution and exhibition.  It is the largest entertainment company in South Korea and a subsidiary of CJ Group.

Supporting paragraphs: Red Velvet discography S.M. Entertainment
Answer: Red Velvet