Entertainment agencies KeyEast, SM, YG, JYP, AMENT, and Star J has joined forces and created an investment corporate body known as United Asia Management as a step closer to achieving a more international status for k-entertainment.
The CEO of KeyEast stated,
“Using the experience each company has in advancing overseas, we will be bringing together each company’s business know-hows and network systems as the base for our new agency. We are looking forward to this collaboration in creating a synergistic effect for the advancement of not only Korea’s entertainment industry, but Asia as well.”
According to Allkpop,
all artists under the six agencies will be under a database system that manages intellectual property rights. A new contents production system will be utilized as well for movies, dramas, and other media. UAM will also be acting as the global agency for artists planning to advance, or currently promoting in, overseas.
Ok, so I seriously know nothing about business and the like, but according to what I’ve read so far, intellectual property are creative inventions of the human mind (such as art, poetry, music, etc.), making intellectual property rights those that protect the interests of creators by giving them property rights over their creations. From this, I’m assuming one of the following:
(Then again, there’s a huge 97% chance I’m wrong, so please correct me if you can. Seriously, I’m making huge guesses here.)
ANYWAYS, UAM will be housing the following entertainers and more: Jang Dong Gun, Hyun Bin, Shin Min Ah, Bae Yong Joon, Kim Hyun Joong, BoA, Lee Yeon Hee, Goo Hye Sun, Big Bang, Rain, 2PM, Miss A, and the Wonder Girls.
Oh, and a comment that may fill up some holes:
Company YG, SM and JYP sell music in Korea. They all want to sell their music in Japan but to do that they have to use a middleman, (let us say for random’s sake) AVEX. However, AVEX only sells their music if he can have 50% of their sales in Japan. So YG, SM and JYP decided to pool their money together and start UAM. UAM is owned partially by all of them so they get more of their money back allowing them to expand into America and Europe. But, in Korea, Japan, America, and Europe company YG, SM and JYP all remain separate entities. (toplover13)
Besides the corporate aspect of this issue, it seems that the industry is seriously making itself aware and pro-active in the globalization of the k-entertainment industry. As pumped as I am (our access to k-pop as international fans is growing!!), some comments of the article highlighting the possible pitfalls of this caught my eye:
This is a legit concern, come to think of it. Competition is no longer competition — it’s purely domination. What will happen to smaller companies’ plans to promote their artists overseas?
People are getting technical — there is debate that if all these companies are purely South Korean companies, then it’s nothing more than just a power up for “Hallyu”. The ‘domination of Asia’ that is implied through the term “Asialyu” is not at all existent if this is the case.
(Also, wtf is up with a fail word like “Asialyu”) Another pretty interesting point was brought up by a particular commentator:
What’s really interesting is what will happen to …say the Japan market. Currently SM contracts LOADS with AVEX…and in turn AVEX acts as SM’s strong-arm to get their artists airplay/TV time, or in the case of JYJ, to completely block them from public activities all together. Soooo ~~~ when this UAM cuts out AVEX (and AVEX’s $$$ take from Korean artists) what do you think will happen within the Japanese Management Companies? I’m gonna bet Korean artists will no longer be as welcome to the Oricon charts as they once were. (sally_b)
On the other hand, fans are spazzing over it, claiming that:
in addition, my two cents:
It’s quite a complicated issue, nevertheless something that we all need to keep tabs on. What does everyone else think?
(image credit: Allkpop)