Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
Banks host K-pop concerts to improve brand image
This promotional poster of Hana Bank shows Lim Young-woong, a ballad, pop and trot singer who may take the stage at a concert that the bank plans to host in fall. Courtesy of Hana Bank
By Yi Whan-woo
Multiple commercial banks plan to host K-pop concerts beginning in June to capitalize on the global popularity of K-pop as a way to improve their respective brand images.
The Industrial Bank of Korea (IBK) said Sunday that it will run a concert called IBK Festival, for the second straight year in Suwon, Gyeonggi Province, where 10 acts will perform.
The 10 performers include Jay Park, Dynamic Duo and Lee Young-ji, all rappers, and Chungha, a singer, dancer and choreographer.
The concert comes after the success of its previous edition in 2023, which the bank said was “noteworthy for inviting our customers from small- and medium-sized enterprises.”
Woori Bank said its concert is scheduled to take place in September, as part of its corporate social responsibility.
It said it is working to finalize relevant details, including the date, venue and list of performers.
Hana Bank plans to host a concert in the fall, with the possible participation of Lim Young-woong, a ballad, pop and trot singer.
Industry sources said that they take Lim’s possible participation “for granted,” noting Lim has been Hana Bank’s advertisement model since February and that such models unusually appear at events hosted by their sponsors.
Concerning KB Kookmin Bank, it held a joint concert with K-pop powerhouse SM Entertainment in Jakarta last year, in celebration of the 50th anniversary of diplomatic ties between Korea and Indonesia.
Back then, popular bands from SM Entertainment, including aespa, performed at the sold-out concert.