Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.
BTS' management company enters game market
Bang Si-hyuk, chairman of Hybe, speaks during a press conference held on the sideline of the G-STAR game show at the BEXCO convention center in Busan, Saturday. Courtesy of Hybe
By Baek Byung-yeul
By Baek Byung-yeul
Hybe, an entertainment company that manages popular boy band BTS, will add game making and distribution as its new business items to become a comprehensive entertainment company, its founder and chairman said Saturday.
“From the point of view of a chairman of the company that runs an entertainment business, all the elements involved in the game content business are very attractive,” Bang Si-hyuk, chairman and founder of Hybe, said during a press conference held on the sideline of the G-STAR game show in Busan.
“Considering that it is the fate of a platform company to occupy customers' valuable time, I think Hybe has a vision to become a global lifestyle platform company will be able to provide customers with new and enjoyable experiences through the game business,” the chairman added.
To that end, Hybe IM, a game subsidiary of Hybe, held a game publishing contract ceremony with Flint, a game developer that currently develops the online role-playing game “Dragon Blaze 2.” Under the agreement, Hybe IM will distribute the role-playing game.
Along with the contract, Hybe said it acquired a stake in Flint. The company didn't unveil how many shares it bought in Flint, but added the investment will further strengthen the trust in the partnership between them.
“We are now equipped with two engines ― one is our own game development and another is game publishing. Given Hybe doesn't compromise in making music and Flint also works hard to create perfect games, I think the two are alike,” Jeong Woo-yong, CEO of Hybe IM, said.
Hybe CEO Park Ji-won, who once worked for one of the country's largest game companies Nexon, said, “The contract means Hybe has started its game business officially.”
Hybe has tried to advance into the game business to diversify its business portfolio. In 2019, the company acquired Superb, a music game development company, and appointed Park as its CEO in 2020. In 2022, the company separated its game business and established a game-specialized subsidiary Hybe IM.
Bang said that he has had a weakness for games ever since he was young even though he has little gaming skills. “I have kept paying attention to the game business. I have thought we cannot become a lifestyle company with music alone,” he added.
With this contract, Hybe will develop games that feature artists such as BTS.
The company already launched a puzzle game “BTS Island: In the SEOM” last June.