In a recent featured article for Forbes Asia, the reputable economics magazine analyzed the power and profitability of top Korean record label, SM Entertainment.

The article, titled Korea's SM Entertainment: The Company That Created K-Pop, explores the business model used by CEO Lee Soo Man from the early pioneer stages to the recent explosion of K-Pop worldwide.

Forbes credits SM's founder with marketing "bands as brands" and praises the company's "factory" strategy calling them the keys to the agency's success.

Complete with facts and figures to support the claims that SM is the most profitable of Korea's top record companies, the article considers the methodology of creating idols.

It also draws on interviews from famous figures in the Korean music industry, including Fly to the Sky's Brian Joo and folk artist Han Dae Soo, to lend some insider perspective.

While praising SM's business tactics as central to the agency's money-making power, the author, Andrew Salmon, does wonder about the quality of the product being produced - calling into question the issue of quality over quantity.

Forbes also goes as far as to mention that while SM Entertainment is a successful business, the lack of diversity in the music released and the increase in legal battles over the past few years do call into question the companies staying power.

"The Korean market is hungry for non-K-pop forms of music," says Mark Russell, author of Pop Goes Korea. "SM has a very clear niche, and if they want to go beyond that, it's tricky, but I think they'll do very well with what they have."

Secure in their niche market for the time being, SM continues to forge onward with their business model and branding strategy, making millions along the way.

The article will appear in the August 12 edition of Forbes Asia.