It has been 10 years ever since ‘Winter Sonata’ the drama which had triggered the Hallyu wave by entering the Japan market. Kick-started with dramas, the Hallyu wave has now turned towards K-POP. Agencies of K-POP wave, like YG Entertainment, JYP Entertainment and more have decided to go public on the stock market.
Cube Entertainment, who houses BEAST, 4minute and many more, will also be joining them, as they plan to be listed on KOSDAQ in the second half year of 2014. Cube Entertainment who had received the spotlight for being acquired by IHQ on 17th September 2013, dreams to be a global entertainment agency through the public-listing efforts.
Representative of Cube Entertainment, Park Chung Min spoke on the 14th, “Through the public-listing, we will take a more positive leap into the global market,” expressing their aspirations to be listed. He showed his confidence towards Cube Entertainment’s dreams to be listed, pointing out that the company has a global music distributor Universal Music and constant impressive results as well as having a well-built financial control and management system that is comparable to a listed company.
◆ Hallyu’s potential sustainability… “To show upgraded Hallyu contents”
He stated his opinion, that because it has been 10 years since the start of Hallyu wave, there is a need to step another notch up for it.
Korean-China collaboration project group ‘M4M’, is referred by Representative Park, as an evolution of K-POP. M4M is made up of Chinese members but trained through a system implemented by Korean entertainments. Representative Park explained that it doesn’t just stop there. They export their expertise and plans to continue the push for even more localized project groups.
“In the first dimension, local idol groups are receiving good responses as they hold local promotions. But, from now on, we want to show an upgraded K-POP.”
Cube Entertainment plans to hold overseas concert more actively. Starting from February next year, BEAST will be holding concerts in Japan for two months. In the third quarter of the same year too, BEAST will be holding a world tour. The ladies of 4minute are also planning to have an Asia tour next year as well. Moreover, 7-members group BTOB will start off with a local concert in coming December and followed with various Japan and Asia tours in the second and third quarter respectively in 2014.
◆ Acquisition by IHQ… “We will be a buzz to the entertainment world”
Cube Entertainment has changed ownership and is now in IHQ’s hands on September 17th. Other than Universal Music, the other three shareholders remained with their number of shares,whereas IHQ bought over 9001 unit of shares at 16.5 billion Won.
Representative Park added, “The meeting between IHQ that stands out in movie contents and actors management and Cube Entertainment that understand all know-hows in music contents and singer management will bring a new synergy.”
Just like how other entertainments like SM and JYP that focuses on other scope such as tourism and audio equipment, Cube, too, is set to be a new entertainment agency. In order to enter the global market, Cube revealed that they are currently developing information technology and imaging equipment that is based on a new concept.
“Not only Asia, consumers from all corners of the world have already seen the charms of K-POP, we are currently working on a contents that can easily span through time and space.”
In 2011, they tried on a new project group, ‘Trouble Maker’ who is currently promoting with title track ‘Now’.
Representative Park also expressed, “We are also considering a new collaboration unit after taking in consideration of artist’s personality and characteristics” and, “In the coming year, we will be carrying out various projects so as to be the buzz of the industry.”
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