Recently, HYBE President Bang Si Hyuk gave a Kpop speech at the Kwanhun Forum in Seoul. In the content, he pointed out the success of top groups such as BTS, Blackpink and called on people in the industry to innovate and be vigilant against challenges.
Accordingly, Bang Si Hyuk believes that Kpop is starting to have a strong influence globally, in which BTS and Blackpink are the names that have taken the Korean entertainment industry to a new height.
He also emphasized the key role of Kpop in promoting different fields such as fashion, consumer goods, education, etc.
The cultural impact and global appeal of Kpop have helped Korea make positive strides.
However, amid these achievements, Bang Si Hyuk warned industry insiders not to be complacent: "We should feel more crisis than content with proud achievements."
HYBE's president pointed out that K-pop and global album sales have a gap. In which, major labels such as Universal, Sony and Warner Music are dominating, accounting for the majority. Therefore, Korean entertainment companies and artists must constantly innovate and have strategic approaches to expand the presence and influence of Kpop globally.
Bang Si Hyuk also mentioned the challenges K-pop faces in key markets such as the United States. Since 2020, Kpop groups have appeared many times in the land of the stars but their achievements on the charts have declined, showing that music has not reached the public and lacks appeal.
The person behind BTS's success called on big companies in Kpop to continue to grow, boost their competitiveness in the international music market to enhance the position of Korean entertainment.
Before Bang Si Hyuk's statements, many people thought that he had just pointed out the current problems of the Kpop industry.
However, a part of public opinion believes that the HYBE president needs to resolve the company's internal rumors and problems related to ADOR CEO Min Hee Jin, before giving advice and calling on everyone to develop Kpop.
