[theqoo] HYBE'S LEE JAESANG "WE SHOULDN'T GET DRUNK ON 'NATIONAL PRIDE' JUST BECAUSE SQUID GAME WAS A HIT"

"Most of my entertainment friends in the U.S. don't think of 'Squid Game' as Korean content at all."

Lee Jaesang, CEO of HYBE, said this while reminiscing about his time living in Los Angeles (LA) during a keynote lecture at the 'Han Kyung-hyup CEO Jeju Summer Forum 2025' held at Lotte Hotel in Jeju on Saturday. "There is a 'gookpong' (patriotism) mindset around the Squid Game," he said, pointing out that it is a successful content, but Netflix took advantage of cheap labor in Korea.

The Korea Chamber of Commerce and Industry Jeju Summer Forum is the 38th edition of the economic knowledge exchange. Mr. Lee delivered a lecture on 'Crisis and Challenges of K-POP: Focusing on HYBE's Global Expansion for Sustainable Growth'. Referring to Chairman Bang Sihyuk's prediction of a K-pop crisis in 2023, he emphasized the need for 'localization of content'. Simply exporting K-pop is perceived as 'imported content' in local countries.

Last year, K-pop accounted for only 4.5% of the global market share by music genre. Pop accounted for 24.4 percent and R&B/hip-hop for 17.8 percent. "The music market in South Korea, the home market of K-pop, is only in the 2% range," Lee said, adding, "We have gained an additional 2 percentage points from the domestic market, making it bigger." He said the industry needs to build a healthy and effective operation that can continue to create superstars like BTS and expand its customer base with fandom.

"It is important to build the fandom business model behind K-pop rather than thinking about exporting K-pop," Lee said. "'HYBE and Geffen Records' global girl group 'KATSEYE' debuted in the U.S., which is considered an important example of globalizing and localizing HYBE's K-pop methodology." "As a leading company in the industry, we will create a virtuous cycle for the related secondary and tertiary industry ecosystems to grow together," he added.

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original post: here

1. HYBE, the company that does chart manipulation, reverse viral marketing against other labels, and feeds the public national pride using famous artists, is that HYBE really trying to give advice to Squid Game, which actually gained real popularity?

2. And you guys committed sajaegi

3. So aside from HYBE, everything sucks?

4. Who do you think you areㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋ "Healthy and effective operation" = is sure something we know

5. Mind your own business

6. ?? Who are you to comment on Korean contents?

7. What are you saying?ㅋㅋㅋㅋㅋㅋㅋㅋㅋ Anyone can tell that it's Korean content

8. Am I in the 'Humor' category?

9. But you guys are the ones pushing yourselves overseas?

10. ?? Why is he mentioning Squid Game out of a sudden??

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