The Korean entertainment industry is making a strategic move into the Latin American market, with two prominent K-pop agencies, JYP Entertainment and Hybe, announcing plans to establish subsidiaries in the region. According to The Korea Herald, JYP Entertainment, the agency behind popular groups such as Twice, Stray Kids, and Itzy, recently announced plans to establish a Latin America subsidiary in the third quarter of this year.
This move is aimed at expanding its local business and enhancing communication with fans from the region. JYP Entertainment joins Hybe, the agency behind global sensation BTS, Seventeen, and NewJeans... which has already made a foray into the Latin market by opening a Mexico-based business unit in November last year.
Hybe stated that its Latin America unit will serve as a launching pad for its artists to enter the Latin music market and a hub for cultivating new artists and content. The establishment of subsidiaries in Latin America by K-pop agencies has raised questions about the industry's motivation for directly entering the region rather than forming partnerships with local music distributors or publishers.
Industry leaders attribute the decision to the growing influence of Latin music in the US and the rapid expansion of the Latin American market. "This is a significant move for Hybe, which is broadening its global impact across various music genres beyond K-pop, "including hip-hop," "country.".. and Latin pop," Hybe commented on its plans.
With the K-pop industry's increasing popularity around the world, it ___ to be seen whether this strategic move will yield positive results for JYP and Hybe in the Latin American market. The information for this article was obtained from The Korea Herald.
He establishes that the expansion is aimed at expanding the local business and better communicating with fans from the region. It has a background in the entertainment industry. The company was founded on the principle of nurturing new and diverse artist talent. His achievements have been acknowledged through winning numerous awards.
His work has gained international recognition.
Start your day with a roundup of key stories from The Korea Herald with news and comment on all that's happening in Korea. JYP Entertainment announced last Thursday that it will establish a Latin America subsidiary in the third quarter of this year. The move is aimed at expanding its local business and better communicating with fans from the region.___ ___
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