During the Kwanhun Forum in Seoul, HYBE’s chairman Bang Si Hyuk gave a keynote speech where he highlighted the remarkable achievements of top K-pop groups such as BTS and BLACKPINK. He also urged the industry to remain vigilant in the face of challenges.
Bang Si Hyuk recognized the worldwide impact of K-pop, emphasizing the immense success of BTS and BLACKPINK and their role in elevating the Korean content industry to unprecedented levels.
He stressed the importance of K-content in driving growth in diverse industries such as fashion, consumer goods, and education, crediting its triumph to its cultural influence and worldwide popularity.
Even with these accomplishments, Bang Si Hyuk warned against becoming too content, stating:
“We should have a sense of crisis rather than being satisfied with proud achievements.”
He highlighted the significant difference in the distribution of global album sales, with major labels such as Universal, Sony, and Warner Music holding the majority. This emphasized the importance of constantly innovating and using strategic methods to further K-pop’s influence worldwide.
Despite the challenges facing K-pop in key markets such as the United States, Bang Si Hyuk emphasized the need to address the decrease in chart performance and music market exports since 2020. He emphasized the significance of cultivating exceptional K-pop companies to maintain growth and competitiveness in the global music industry.
Amidst the ongoing feud between HYBE and ADOR CEO Min Hee Jin, Netizens have been buzzing about photos of Bang Si Hyuk, the chairman of HYBE, with all HYBE groups except for NewJeans, which have recently come to light.
During the press conference, Min Hee Jin alleged that HYBE had purposely delayed NewJeans’ debut in favor of promoting another group, LE SSERAFIM. She further stated that Bang Si Hyuk had neglected to congratulate NewJeans on their debut and pointed out his minimal presence with the group on his Instagram.
Despite some seeing this as a sign of preferential treatment, there are those who contend that even BOYNEXTDOOR, a similarly accomplished group, does not have many photos with Bang Si Hyuk. This has sparked discussions among netizens regarding HYBE’s handling of NewJeans and the company’s internal dynamics.
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