This is a little old, from back in April, but it still unsettles me. While goals of cooperation and sharing know-how sound nice enough, and can be great in and of themselves, this new organization seems like it will only augment the Korean market’s greatest weaknesses, the lack of competition and (perhaps therefore) diversity. The Korean music industry’s tendency for hyper control and monopolization doesn’t help either. If you don’t know what I’m referring to, read on:
Top Korean talent agencies form new comapany to push K-pop overseas
SEOUL: Korean superstar Bae Yong Joon’s talent agency KEYEAST Entertainment revealed Friday that it will form United Asia Management (UAM) in conjunction with five other top Korean talent agencies to push K-pop overseas, reported Korean media.
KEYEAST Entertainment’s partners are Korean talent agencies MEnt, Star J Entertainment, SM Entertainment, YG Entertainment and JYP Entertainment.
“We will be pooling each company’s business knowledge and network systems to form the foundation of our new agency.
“We are looking forward to this collaboration and the synergies it will bring for the advancement of not only Korea’s entertainment industry, but Asia’s as well,” KEYEAST Entertainment CEO Yang Geun Hwan was quoted as saying.
UAM will represent artistes currently managed by all the six companies involved, on the Asian stage.
This move will effectively bring K-pop luminaries like Rain, Big Bang, Kim Hyun Joong, Super Junior, Girl’s Generation and the Wonder Girls under one management agency when they are promoted outside Korea in Asia.
According to a press statement from KEYEAST Entertainment, UAM will also manage the international copyrights of its stars as well as implement a new media production system for dramas, films and other media projects.