Goldman Sachs, however, expressed optimism for the industry in a March 14 report, saying the K-pop sector is "misunderstood." Nonetheless, Goldman Sachs said it sees a "high potential for valuation re-rating," as companies still continue to deliver multi-year earnings growth. Goldman pointed out that Japan's top talent agency Johnny & Associates has been mired in a major scandal, leading to the industry turning more favorable to K-pop artists. In 2023, Kouhaku Uta Gassen, the largest music show in Japan, invited five K-pop artists and two localized groups produced by K-pop companies. It was the first time the show has featured male K-pop artists since 2011 and the largest number of K-pop groups ever featured in its line up.

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Persons: Danielle, Hyein, NewJeans, Gary Miller, Goldman Sachs, Karina, Goldman, Kouhaku Uta Gassen Organizations: Park, Filmmagic, JYP, YG Entertainment, SM Entertainment, Hybe, SM, Johnny, Associates Locations: CHICAGO , ILLINOIS, Chicago , Illinois, Japan, U.S