These Korean entertainment companies have already conquered fans’ hearts–now, they’re set on conquering the continent by expanding their companies into other Asian markets
Exciting times are ahead for Hallyu as Korean entertainment companies are spending billions of dollars expanding and acquiring companies overseas. In particular, the Asian markets.
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These companies, the masterminds behind the K-pop idol groups you can’t stop dancing to, the Korean dramas (K-dramas) you binge-watch until late into the night, and movies sweeping up awards faster than you can say Parasite, have cracked the code. As they continue to create addictive content, they’re also sprinkling their Hallyu magic all over Asia.
It’s like watching a K-drama unfold. Only this time, it’s happening in boardrooms and production studios all over the continent.
Above From left: Aespa members Winter (Kim Min-jeong), Giselle (Aeri Uchinaga), Karina (Yu Ji-min), and Ningning (Ning Yizhuo) in a promotional shoot for ‘Hot Mess’, their Japan debut single (Photo: Instagram/@smtown)
SM Entertainment, established in 1995 by Lee Soo-man, is the powerhouse that has been training and churning out K-pop stars since the 90s such as SNSD (Girls’ Generation), Super Junior, Exo, Red Velvet, NCT, and Aespa. But they’re not just about the music, they’ve also dipped their toes into the world of TV production, collaborating with local companies to create shows that combine Korean storytelling with local flavours–like fusion cuisine but for your eyes and ears.
See also: Girls’ Generation: How rich are the members of the K-pop girl group?
In April 2000, SM Entertainment became the first company in the entertainment industry to be listed in KOSDAQ (IPO). It’s also one of the first entertainment companies, alongside YG Entertainment, to join the Federation of Korean Industries (FKI).
Not content with just dominating the Korean market and with their sights set on the entire continent, SM Entertainment has propelled itself outside of South Korea. The company has been making some smart moves in Japan, China, and Southeast Asia, opening offices in Tokyo and Beijing–and not just to export its existing portfolio of Korean entertainment stars but also to create new groups tailored specifically for these markets.
