Bang Si-hyuk, the chairman of HYBE, recently addressed various topics surrounding the company and its artists, particularly BTS. During his appearance at Bloomberg Screen Time in Hollywood, USA, he touched upon the significance of BTS‘ recent contract renewals. He responded to a question about the significance of BTS’ second re-signing by saying, “It is natural for BTS to be needed for the growth of the company called HYBE.”

HYBE had announced its second re-signing with BTS last month. Reflecting on this, Bang Si-hyuk emphasized the bond between the septet and the company, saying, “The relationship between BTS and HYBE is good, but there were difficulties during the negotiation process, and we became closer while resolving them. It was the greatest happiness in my life as a manager, which is filled with hardships.”

On the topic of BTS‘ milestones, he also mentioned a project commemorating the 10th anniversary of a specific BTS album. Bang Si-hyuk revealed, “We had discussed creating a commemorative album when the album The Most Beautiful Moment in Life, Pt. 1 released in 2015 reaches its 10th anniversary, and we were able to make it together in the end.”

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Bang Si-hyuk is thinking globally

Bang Si-hyuk also revealed that he’s been thinking globally. “We needed to expand externally and internally to enhance the influence of K-pop in the global music market and secure many global fans. We will continue to pursue experimental attempts for the sustainable growth path of K-pop, regardless of success or failure,” he added.

In a separate report by Bloomberg, Bang Si-hyuk expressed his intention to form a new girl group that could follow in BTS’ footsteps. He acknowledged the uncertainty surrounding BTS‘ popularity after their military service and emphasized the goal of creating a new girl group with global appeal. This initiative is currently underway with a global audition titled The Debut: Dream Academy, in collaboration with Geffen Records, a subsidiary of Universal Music Group. The audition has seen participants from diverse ethnic backgrounds across 12 countries.

Bang Si-hyuk highlighted that unlike previous groups formed by HYBE, this new girl group would specifically target the global market, with a focus on the United States. He emphasized the need to bridge the gap between Western and Korean markets and mentioned that the group would speak primarily in English to communicate.

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The expansion strategy of K-pop

Furthermore, Bang Si-hyuk also shared insights on the expansion strategy of K-pop. He noted the declining K-pop indicators in Southeast Asia and the challenges faced in the Japanese music market. He emphasized the importance of local music in each country and stated that the only area where significant growth is possible currently is the United States. “When K-pop becomes the mainstream of pop music, it can maintain a certain level of competitiveness against local music in each country,” he concluded.

Lastly, on a personal note, Bang Si-hyuk expressed his desire to retire in the next decade, sharing, “Personally, I want to live a retired life in 10 years. I hope I don’t have to announce my retirement but if the company continues to run even without me as the key person, I might be able to step back for the sake of future generations.” – K-Pop News Writer

Featured Image: The man who brought BTS together is looking beyond South Korea to ensure his company’s future. Source: YouTube/@markets.