Yang Hyun-suk sees bright future in K-pop in global market
By Kim Jae-heun
Yang Hyun-suk / Courtesy of YG Entertainment
Yang Hyun-suk, chief executive officer of Korea’s leading record company YG Entertainment and a former member of the boy band Seo Taiji and Boys, is undoubtedly one of the most important figures in the Korean music industry.
Yang first rose to stardom in 1991 through his debut as a backing vocalist in the legendary boy group that was highly successful and credited for changing the Korean pop music scene.
Two years after Seo Taiji and Boys disbanded in 1996, Yang established YG Entertainment that took up name after the abbreviation of his nickname “Yang Goon.” The entertainment company has produced top star artists, such as 1TYM, Big Bang and 2NE1. The world pop artist Psy of “Gangnam Style” also joined the company in 2010. YG Entertainment has recently debuted young rising artists Lee Hi, Akdong Musician, WINNER and iKON, who are sweeping the K-pop music charts in Korea as well as overseas.
Yang has expanded his influence not only in the music industry but also in the fashion and beauty businesses, launching a luxury street-wear brand “NONA9ON” and cosmetic brand “Moonshot,” targeting young people in their 20s and 30s.
The K-pop mogul discussed the present K-pop industry scene and his future plans to debut his artists in the American market in an interview with The Korea Times.
Q: The popularity of K-pop has skyrocketed worldwide in the past few years. However, the music is still not familiar to people in America or the U.K., where pop music was born. Korean singer Psy’s megahit “Gangnam Style” is the only exception. Why do you think K-pop is not yet popular in the western market and what will it take for the music to become successful there?
A: I believe there are several factors that make it difficult to produce a more successful song than Psy’s “Gangnam Style” (in American market). There are linguistic, cultural, social and emotional factors. Psy’s megahit was able to make it to the top two on the Billboard chart and win a title for YouTube’s most watched video for its fun music and performance that adopts a western style of entertainment. When you look at the successful cases of foreign music in America, they mostly stimulate audiences emotionally.
Artists from all over the world dream of becoming successful in America because it’s the home to pop music. Also, America occupies 30 percent of the world’s music market demand, and people want to succeed in big markets.
These days we can refer to various indexes like iTunes charts and the number of hits on YouTube to indicate the popularity of a song.
YG Entertainment’s hip-hop boy bands Big Bang’s and iKon’s songs are ranked third and 26th each on the iTunes chart currently, without any activity in the U.S.
Big Bang’s successful concert tour in the U.S. is proving its popularity in the country as the tickets have all been sold out. Now, the group is famous not only in America but also in diverse global markets, which I believe is as meaningful as becoming successful in America.
Q: Korean and American entertainment industries are very different. What strategic approach do Korean artists need to enter the American market and what efforts and talent does a person need individually?
A: The American market is, as you know, bigger and has a totally different structure. For Korean artists to enter the U.S. market, they need to have exceptionally eye-catching talent and, without a doubt, content. Attention from the gigantic American media is also necessary.
YG Entertainment is currently preparing to debut the leader of hip-hop girl band “2NE1,” CL, in America. CL is not only well known through her performance in the group but she is also acknowledged on the world stage for her raps, vocals, dancing and fashion. Renowned media like America’s Billboard and Britain’s Guardian have published articles that forecast her success in the United States.
CL has shot to fame in the world pop market through featuring music for world-class artists like Skrillex and Diplo while going on an MDBP tour in America with, Diplo and local artists.
Q: Most Asian countries have their own pop music market cherished by locals. Still, K-pop is on top of the Asian market. What makes K-pop popular over other Asian pop music?
A: If you compare K-pop to many of the top songs on Billboard, the quality of the music, performance, and stage manner are as refined as that of the westerners. Before, people weren’t optimistic that K-pop would ever enjoy the popularity it enjoys now.
Q: It has become an ordinary routine for K-pop artist to enter Japan, China, Southeast Asia, and then America. Is there any new country that Korean entertainment agencies are seeking to enter?
A: The world’s leading music market is America, and Japan comes in second place. Germany, Britain, France and Australia follow after to rank from third to fifth. If entertainment companies are looking for a new market, it would be Europe or Australia. But, I don’t think it matters to enter a particular market or a certain country. There are no borders in the pop music market.
Big Bang visited Mexico, Canada and Australia for the first time during its world tour this year. I was surprised that the group was very popular, and that it was hard to get tickets there.
Our newly debuted boy band iKON recently released its first album, which topped the iTunes charts in 12 countries. The group has never been to most of those countries.
Q: Media critics predict that the popularity of hallyu, or Korean wave, will fade away in few years. As the representative of the leading entertainment company in Korea, what do you say about it?
A: I have not heard of the hallyu would fall apart. The culture or lifestyle of the East and West are becoming similar to each other and I believe there will be more successful Korean artists in the global market in the near future. While participating in the “K-Pop Star” (Korean reality TV audition series) as a judge, I realized that Koreans have so much talent. I expect more talented singers to be discovered. Korean pop culture will expand its influence in the global market from music to fashion, food and lifestyle.
Q: It is a fusion era. YG Entertainment recently jumped in to the fashion and beauty businesses. What do you expect from the fields?
A: I always wonder why there is no popular Korean fashion or beauty brand when K-pop has hit the global market.
The entertainment field is closely connected to the fashion and beauty industries. When people see clothes or make up that celebrities wear; they want to try them too. People wonder if the stars’ fashion and their cosmetic product can make them beautiful like K-pop stars. I want to satisfy the people’s desire and it is my goal to establish a leading fashion and beauty brand.