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☆ South Korea's largest K-pop agency Hybe accuses sublabel executives of breach of trust
▼ + stars: | 2024-04-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

South Korea's largest entertainment agency Hybe is set to file an official police complaint against executives of its sublabel ADOR on charges of breach of trust and other offenses. The move comes after Hybe, which manages K-pop sensation BTS, opened an audit into ADOR on April 22 over allegations that CEO Min Hee-jin was aiming to take the sublabel independent. Min denied the allegations and accused Hybe of copying the concept of ADOR's girl group, NewJeans, for another girl group under a different Hybe subsidiary. Reports from South Korean media show a screenshot provided by Hybe of a message between Min and ADOR's vice CEO. In the message, the vice CEO outlined various methods to take the label independent, including approaching other investors and convincing Hybe to sell its stake in the sublabel.

Persons: Min Hee, Min, Hybe, auditee Organizations: CNBC, South Locations: ADOR

☆ K-pop stocks have sold off this year, but Goldman sees a turnaround
▼ + stars: | 2024-04-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

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.

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

☆ K-Pop Group Asks U.S. Court for Help Finding YouTube User in Defamation Case
▼ + stars: | 2024-04-10 | by ( John Yoon | ) www.nytimes.com time to read: +1 min

NewJeans, one of the biggest K-pop acts, has asked a federal court in California to order Google to release the identity of the person behind a YouTube account that the members say is spreading defamatory statements about them. The group said that a YouTube user with the handle @Middle7 made the statements in dozens of videos that were viewed more than 13 million times, according to the court filing. The group’s lawyer, Eugene Kim, wrote that the account had also engaged in “name-calling or other mocking behavior” targeting NewJeans. The move, made on March 27, is the latest example of K-pop stars responding to the pressures they face from the fervid online fan culture in South Korea. The request, if granted, would allow the group to sue the YouTube user in South Korea for defamation and insult, which are criminal offenses in the country.

Persons: Eugene Kim, ” Ador Organizations: Google, YouTube Locations: California, South Korea

The Fall-Winter 2024 edition of Seoul Fashion Week, which wrapped up earlier this week, saw runway shows from more than 20 established and emerging brands. Jean Chung/Getty ImagesA Fashion Week attendee in all-black, complete with hoodie, bomber jacket and chunky futuristic footwear. Jean Chung/Getty ImagesJeong Yoon-gyeong, left, and Lee Yosep, right, wear gray bags from South Korean label Nos Couleurs. Jean Chung/Getty ImagesModels (from left) Yun Mi-young, 58, Choi Soon-hea, 80, and Kang Seun-hee, 64, on the first day of Seoul Fashion Week. Jean Chung/Getty ImagesWearing a black dress and adorned with lipstick kisses, model Shlee Nau was excited to see South Korean brand Ulkin's show.

Persons: Sooy Park’s, Maison, Jean Chung, Kahyun Lee, CNN Parnika, ” Kahyun Lee, CNN Ha, Choi, Jeong Yoon, Lee Yosep, Yun Mi, Kang Seun, Kang, Soeun Kim, CNN Wu Qin Qin, Shlee Nau, Kang Hyun, Jeong Organizations: South Korea CNN, Seoul Fashion, Maison Nica, CNN Locations: Seoul, South Korea, York, London, Milan, Paris, South, South Korea’s

LOS ANGELES (AP) — Ten of the best songs of the year, as determined by Associated Press Music Writer Maria Sherman, in no particular order. “Monaco,” Bad BunnyBad Bunny’s 2023 album, “Nadie Sabe Lo Que Va a Pasar Mañana,” is a reclamation of his past sound, the hard-hitting rap that preceded his mainstream superstardom. And it is part of the reason why his 2023 single and first No. “OMG,” NewJeansIn 2023, girl groups dominated the K-pop conversation. At the fore is NewJeans, with their Y2K-nostalgic sound that pulls from the turn of the millennium's R&B and pop music.

Persons: Maria Sherman, Victoria Monét Buckle, Victoria Monét, Ariana Grande, Chloe x Halle, Monét’s, doesn’t, “, ”, ” Miley Cyrus, Miley Cyrus ’, ” PinkPantheress, PinkPantheress, Leo ”, What’s, ” Zach Bryan, Zach Bryan, ” Paramore Long, Paramore, Hayley Williams, “ Rush, ” Troye Sivan, Sivan, Laura Les, Dylan Brady, NewJeans, ” Danny Brown Danny Organizations: ANGELES, Associated Press, Fifth Harmony, Bronx Locations: “, “ Monaco, Monaco, The Tennessee, Australian

Aldean and Anthony's dominance wasn't long — and Combs did earn a 2024 Grammy nomination for best country solo performance — but Wallen stands out as an obvious exclusion. While “Last Night” is nominated for best country song, a songwriter's award, Wallen himself isn't despite his successful year. Monét has also picked up record of the year and best R&B song nominations for her glossy, brassy “On My Mama,” best R&B performance and best traditional R&B performance. Her 2023 release, “Jaguar ll,” is up for best R&B album and best engineered album, non-classical. IT'S RAINING WOMEN, HALLEJUAHThe best story of the 2024 Grammy nominations, of course, is just how many women are represented in the major categories.

Persons: “ Barbie, Reneé Rapp, Rapp's, ”, Rapp, PinkPantheress, Eslabon, Ella Baila Sola, Bunny, Natanael Cano, Karol G's, Jason Aldean's “, Morgan Wallen's “, Luke Combs, Tracy Chapman's, Oliver Anthony Music's, Combs, Wallen, isn't, he's, NewJeans, Barbie, PRINCE HARRY, Michelle Williams, Britney Spears, Prince Harry, Meryl Streep, William Shatner, Rick Rubin, Sen, Bernie Sanders, Michelle Obama, WHO'S, There's, Travis Scott's, Scott, Cole’s, Uzi Vert’s “, Victoria Monét's, Monét, Ariana Grande’s, Chloe x Halle, she’s, Taylor Swift, Billie Eilish, Miley Cyrus, Olivia Rodrigo, Jon Batiste Organizations: ANGELES, música Mexicana, Grupo Frontera, Fuerza, North Locations: Será Bonito, ”, Richmond

☆ 'I believe in the sector': Investing in K-pop? Bernstein analyst is a fan of this stock
▼ + stars: | 2023-09-27 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

His pick is K-pop agency Hybe, which he's given an outperform rating and a target price of 350,000 South Korean won ($258) — or around 44% upside from Tuesday's close. Hybe's roster of artists includes BTS — one of the biggest South Korean boy bands. "I believe in the sector for the long-term growth and the macro trend," Suh told CNBC's " Street Signs " on Monday. Suh highlighted that Netflix announced in April that it would invest $2.5 billion in South Korean media over the next four years. So this is the reason why the global leading enterprise entertainment players companies try to diversify their IP portfolio to run their business more sustainably."

Persons: Bokyung Suh, Bernstein, Suh, CNBC's, Ted Sarandos, Sarandos, Hybe Organizations: South Korean, Kosdaq, SM Entertainment, JYP Entertainment, YG Entertainment, Disney, Netflix, Spotify, Hybe, BTS, Pledis Entertainment Locations: South Korea, Korean

☆ Troubled World Scout Jamboree bows out with K-pop in Seoul
▼ + stars: | 2023-08-11 | by ( Hyunsu Yim | ) www.reuters.com time to read: +3 min

A couple takes a selfie with the camping site for the 25th World Scout Jamboree in Buan, South Korea, August 4, 2023. REUTERS/Kim Hong-Ji/File PhotoSEOUL, Aug 11 (Reuters) - South Korea hosted a K-pop concert on Friday for thousands of teenage scouts, seeking to salvage national prestige as an ill-fated World Scout Jamboree hit by extreme weather and criticised for poor organisation draws to an end. Around 40,000 people gathered for the concert headlined by NewJeans and IVE at Seoul's World Cup stadium. K-pop agency HYBE and tech group Kakao said they were providing free merchandise for scouts attending Friday's concert. "It is the first time in over 100 years history of World Scout Jamborees to face such compounded challenges," Ahmad Alhendawi, Secretary General of the World Organization of the Scout Movement, said in a statement on Tuesday.

Persons: Kim Hong, NewJeans, Han Duck, Han, Kakao, Ahmad Alhendawi, 1,325.0700, Hyunsu Yim, Ed Davies, John Stonestreet Organizations: REUTERS, Democratic Party of, World Organization of, Scout Movement, Thomson Locations: Buan, South Korea, SEOUL, Saemangeum, South Korea's, Singapore, Seoul, North Jeolla Province, Democratic Party of Korea

☆ Starbucks teams up with Blackpink, betting on the power of K-pop
▼ + stars: | 2023-07-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Starbucks is teaming up with Blackpink, one of the world’s hottest musical acts. The centerpiece of the lineup is the Blackpink Strawberry Choco Cream Frappuccino, a drink that is an aptly hued blend of black and pink. Like other major global brands, Starbucks is leaning into the frenzy around K-pop, hoping that it will translate to a boost in sales. The company has partnered with Blackpink before, launching a collection of merchandise in Thailand two years ago. In 2022, the group was named Time magazine’s Entertainer of the Year, becoming just the second K-pop group to receive the title.

Persons: ”, Blackpink, Emma McIntyre, Kan, they’ve, —, Jennie, Jisoo, Lisa, Rosé —, Dior, Bang, Hyuk, “ Organizations: Hong Kong CNN, Starbucks, Coachella, Blackpink, South, Netflix, BTS, Disney, CNN, HYBE Locations: Hong Kong, Indonesia, South Korea, Philippines, Indio , California, Asia, Thailand, South Korean

☆ Mixing old and new, Gucci hosts show in 14th century Seoul palace
▼ + stars: | 2023-05-16 | by ( Ju-Min Park | ) www.reuters.com time to read: +2 min

SEOUL, May 16 (Reuters) - With sparkling lights and beating drums, Italian luxury label Gucci took over a 14th century Seoul Palace on Tuesday to showcase its cruise collection, blending Korean heritage and modern fashion. The show, featuring the soundtrack of Oscar-winning South Korean movie "Parasite" during its finale, was the first of its kind to take place within the palace's courtyard. The Gucci cruise show follows a Louis Vuitton pre-fall fashion show on a Seoul bridge in April. Built in 1395, the Gyeongbokgung palace served as the main royal palace of Korea's Joseon dynasty. The South Korean national treasure became the latest iconic landmark chosen by Gucci to showcase its collection.

Hong Kong/Seoul CNN —The billionaire mastermind behind some of the world’s biggest K-pop stars is pushing back on accusations that he’s trying to monopolize the Korean music industry. “It wouldn’t be correct to say that we’re trying to take over the whole industry,” Bang told CNN in an exclusive interview in Seoul. Bang Si-Hyuk, who chairs the HYBE management agency, spoke with CNN's Richard Quest on Tuesday. “When the two companies are combined, a monopoly and oligopolistic group of companies that account for approximately 66% of total market sales will be created,” it told CNN. The company would then announce the outcome and next steps, it told CNN on Friday.

Align Partners' stake in SM, a pioneer in K-pop behind acts like Girls' Generation and Red Velvet, is just 1% - but still worth tens of millions of dollars. HYBE hasn't disclosed whether it intends to buy more of SM after the current tender offer. Taken together, the 40% stake would cost HYBE about 1.137 trillion won ($884 million) under current plans - though SM shares traded above HYBE's tender offer price on Thursday. Align's Lee said this would become a proxy fight, with SM's current executives wooing shareholders with plans to improve SM's sales and profitability. ($1 = 1,284.9500 won)Reporting by Hyunsu Yim and Joyce Lee; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

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