Live Nation Entertainment Inc. continues to expand in Asia, signing a joint venture agreement with B'In Music International to form Live Nation Taiwan.

The Beverly Hills concert and artist promoter said late Thursday that the joint venture will be based in Taipei and led by Ngiam Kwang Hwa, a 20-year industry veteran who has promoted concerts by such artists as Mayday, G-Dragon, Jennifer Lopez and Chicago. Live Nation Taiwan’s first collaboration will be a North American and European tour by Mayday, a Taiwan rock band.

"Taiwan is one of the strongest economies in Asia and its proximity to the established touring markets of Japan, South Korea and Hong Kong make it an ideal stop on any Asian tour," Alan Ridgeway, Live Nation president of international and emerging markets, said in a statement.

Live Nation now operates in 10 Asian countries, with offices in China, Hong Kong, Taiwan, South Korea, Japan and Singapore.

Shares on Friday closed up 15 cents, or 1 percent, to $20.85 on the New York Stock Exchange.

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