Bang Si-hyuk, chairman of HYBE, speaks throughout a debate hosted by the Kwanhun Club in Seoul, South Korea, on March 15.

Kim Hong-Ji/Reuters

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Bang Si-hyuk, chairman of HYBE, speaks throughout a debate hosted by the Kwanhun Club in Seoul, South Korea, on March 15.

Kim Hong-Ji/Reuters

SEOUL, South Korea — South Korean pop has rapidly grown into a world phenomenon, and its recognition appears to solely develop. But a number one determine of the business says Okay-pop “is in crisis.”

Bang Si-hyuk, who chief produces the megahit group BTS, gave the evaluation in a uncommon press convention final month. He stated Okay-pop’s enterprise progress has slowed and even turned damaging in some markets.

This development is particularly regarding, he stated, as a result of Okay-pop is but to have an economic system of scale. Despite the explosive progress each in enterprise and cultural influence lately, main Okay-pop firms account for less than 2% of worldwide music file and streaming gross sales, based on Bang.

“K-pop exports hit a new high last year,” says Kim Jin-woo, the top researcher at Circle Chart, one of the vital influential Korean fashionable music charts. “But nevertheless, there are signs of slowdown.”

South Korean customs information reveals that Okay-pop album exports final 12 months exceeded $230 million, marking a 4.8% progress from the earlier 12 months. That determine is dwarfed by earlier years’ progress — 62.1% in 2021 and 82.6% in 2020.

Kim says the slowdown is noticeable in a few of the most vital markets. The U.S. share of complete Okay-pop album imports has remained at 17% for 2 years. The United States is the third-largest importer of Okay-pop albums after Japan and China. And in Southeast Asia, album gross sales dropped in all main international locations aside from Vietnam final 12 months.

BTS’ break is seen as a giant issue

While it’s troublesome to find out the explanations for the downtrend — which might fluctuate by nation — Kim agrees with Bang that BTS’ hiatus as a gaggle is a fundamental one.

The seven-member band announced a break final June to meet obligatory army service and has since targeted on solo tasks.

But Bang and consultants additionally say that there are larger troubles than the group’s absence.

Visitors pose with cardboard cutouts of Okay-pop group BTS members at a vacationer data middle in Seoul on June 15, 2022.

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Visitors pose with cardboard cutouts of Okay-pop group BTS members at a vacationer data middle in Seoul on June 15, 2022.

Jung Yeon-je/AFP by way of Getty Images

As the primary Korean act to high the Billboard Hot 100 chart and to seize Grammy Awards nominations, BTS has achieved unprecedented success, particularly within the United States.

“The biggest influence of BTS is that they increased K-pop’s dependency on the overseas market and made it truly a part of the global popular music market,” says Lee Gyu-tag, an affiliate professor at George Mason University Korea who has studied the globalization of Okay-pop.

And they reworked all the Okay-pop business of their wake.

“We raised our bar so high,” says music critic Kim Do-heon, about expectations for Okay-pop artists from each the business and followers.

An growing variety of Okay-pop teams are occurring Billboard charts and holding large-scale live shows abroad at a sooner tempo than BTS. But their achievements not obtain the form of nationwide consideration and celebration that BTS did, in an indication that success within the world market is now nearly anticipated of Okay-pop idols.

Critic Kim, nevertheless, says the Okay-pop business lacks infrastructure and a system to proceed to progress.

Problems vary from unhealthy administration construction of some main firms, to the regularized manufacturing system that may hinder originality, to remedy of artists’ rights.

Even South Korea’s declining inhabitants will make it tougher for the business to seek out new skills contained in the nation, Kim predicts.

And these points could make Bang’s analysis extra evident within the close to future, says Kim.

Professor Lee thinks a “transitional period” is a extra becoming description for the present standing of Okay-pop than a “crisis,” with a brand new era of artists rising in BTS’ absence.

Okay-pop pivots extra methods than one

Okay-pop has a definite “total management” system that’s each credited for fulfillment and criticized. Companies recruit and practice younger skills into all-around performers and handle nearly each side of artists’ actions — information, stage performances, music movies, media appearances and so forth.

And the position of proprietor/producer of main firms like SM Entertainment, JYP Entertainment and YG Entertainment has lengthy been essential in shaping artists’ types and music.

But lately, firms like Bang’s HYBE started to diversify and provides extra autonomy to producers.

“I think a generational shift is happening in K-pop not only of the owners but also the creators,” says the critic Kim Do-heon.

Another change is going on in the best way firms localize world enterprise.

At least three teams, chosen by way of auditions within the United States by Korean firms and their U.S. companions however educated in South Korea, are scheduled to debut within the U.S. later this 12 months.

An identical mannequin of artist growth achieved appreciable success in Japan, with essentially the most outstanding instance being NiziU.

The woman group was created by way of an audition program collectively made by Sony Music Japan and JYP. All 9 members are Japanese, they usually primarily carry out in Japan.

BLACKPINK performs onstage on the 2022 MTV VMAs at Prudential Center in Newark, N.J.

Theo Wargo/Getty Images for MTV/Paramount Global

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BLACKPINK performs onstage on the 2022 MTV VMAs at Prudential Center in Newark, N.J.

Theo Wargo/Getty Images for MTV/Paramount Global

Circle Chart’s Kim Jin-woo says the business has now developed from introducing artists already fashionable in South Korea to international audiences.

Kim says the nascent mannequin of “combining K-pop’s producing technology with foreign talents” will ultimately transfer on to the following stage: non-Korean producers creating native artists within the Okay-pop mannequin.

And that, he provides, is how Okay-pop “lives forever,” as one thing anybody can recreate anyplace no matter nationality.

Critic Kim Do-heon says such creation might be an final image of Okay-pop’s affect.

HYBE chairman Bang Si-hyuk additionally stated within the press convention that he thinks “the letter K needs to be diluted” as a result of Okay-pop is “a culture encompassing everything from fans, their consumption behaviors, production and industrial system” somewhat than a music style.

Bang stated he believes being free from the “K” id will sarcastically assist Okay-pop resolve the present disaster.

“K” is already fading from music by artists with larger international following, comparable to South Korean woman group BLACKPINK, says Circle Chart analyst Kim, with some songs sounding indistinguishable from American pop songs.

Will, and may, Okay-pop go to date that it turns into disassociated from Korea in any respect?

Professor Lee Gyu-tag says the Koreanness, nevertheless it’s outlined, will survive.

“Just as hip-hop retains its identity as Black music even in the genre of Korean hip-hop,” Lee says, “K-pop’s identity as a Korean music genre will not disappear, even as it evolves into American K-pop or Japanese K-pop.”