The Corporate Battle for the Future of K-pop
The proxy battle between Kakao and HYBE for control of SM Entertainment has significant implications for K-pop’s future.
The proxy battle between Kakao and HYBE for control of SM Entertainment has significant implications for K-pop’s future.
Known for its “inhumanely long” workweek, South Korea just shortened its maximum working hours from 68 to 52 hours per week.
One thing that shocks most first time visitors to Korea is the ubiquity of coffee shops. You can’t find anywhere in Seoul that isn’t a short walk to the nearest café. The sheer magnitude of Korea’s passion for coffee is best expressed through numbers: Korea boasts the highest per capita number of cafes in the world.
By riding on the popularity of its original content (House of Cards, Orange is the New Black) and incorporating Korean media into their library, Netflix is now in a prime position gain a market share in the entertainment industry in Korea.
The runaway success of Kakao’s mobile messaging app can be easily seen by its near universal use in South Korea. From high school students to working professionals, three-quarters of South Korea’s 50 million residents use Kakao’s free messaging service monthly with an additional 10 million monthly users outside of South Korea.