Bang Si Hyuk Startling Revelation about BTS & BLACKPINK — ‘We Should Have a Sense of Crisis Rather Than ...'

HYBE's chairman Bang Si Hyuk delivered a keynote address at the Kwanhun Forum in Seoul, highlighting the tremendous success of K-pop's leading groups like BTS and BLACKPINK while urging the industry to stay vigilant amidst challenges.

Bang Si Hyuk acknowledged the global phenomenon created by K-pop, describing BTS and BLACKPINK as super IPs that have propelled the Korean content industry to new heights.

He emphasized the pivotal role of K-content in boosting various sectors such as fashion, consumer goods, and education, attributing its success to its cultural impact and global appeal.

However, amidst these achievements, Bang Si Hyuk cautioned against complacency, stating:

"We should have a sense of crisis rather than being satisfied with proud achievements."

He pointed out the disparity in global album sales share, where major labels like Universal, Sony, and Warner Music dominate, emphasizing the need for continuous innovation and strategic approaches to expand K-pop's presence globally.

Bang Si Hyuk also addressed the challenges facing K-pop in key markets like the United States, citing a decrease in chart performance and music market exports since 2020. He stressed the importance of fostering outstanding K-pop companies to sustain growth and competitiveness in the global music industry.

In recent news, Netizens are abuzz after discovering that Bang Si Hyuk, the chairman of HYBE, has photos with all HYBE groups except for NewJeans. This revelation comes amidst the ongoing feud between HYBE and ADOR CEO Min Hee Jin.

During a press conference, Min Hee Jin accused HYBE of delaying NewJeans' debut and promoting another group, LE SSERAFIM, ahead of them. She also claimed that Bang Si Hyuk didn't congratulate NewJeans on their debut and pointed out his lack of photos with the group on his Instagram.

While some view this as evidence of favoritism, others argue that BOYNEXTDOOR, another successful group, also lacks photos with Bang Si Hyuk. The situation has sparked debate among netizens about HYBE's treatment of NewJeans and the dynamics within the company.

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Written by Cassidy Jones.