Kworld Now

Category: News

  • Visit Korea Year 2023: K-Tourism on the Bucket List

    Visit Korea Year 2023: K-Tourism on the Bucket List

    Visit Korea Year 2023: Put K-Tourism on the Bucket Lists of People All Over the World

    Korea has become a global sensation in recent years, thanks to its vibrant culture and various entertainment industries such as K-pop and K-beauty. This surge in global popularity has not gone unnoticed by the Ministry of Culture, Sports, and Tourism (MCST), who have launched the Visit Korea Year 2023 campaign. The campaign aims to turn the world’s fascination with Korea’s culture into actual visits to the country.

    The MCST recognizes that K-tourism can be a powerful engine for increasing domestic consumption and exports, and is promoting the Korean tourism industry as a special growth engine for domestic consumption and export.

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    To achieve its goals, the MCST is conducting marketing activities for different age groups and regions. In Japan, the ministry will launch the Korea-Japan Future Culture Tourism Partnership Project in April, utilizing Japan’s Golden Week (April 29th – May 7th) to encourage young Japanese people to visit Korea. They will also launch a campaign for older Hallyu enthusiasts, who were first introduced to Korean entertainment through the Japanese broadcast of Winter Sonata 20 years ago.

    In China, the MCST is partnering with Chinese online travel agencies for the Visit Korea Again campaign, taking advantage of the additional launching of air routes between Korea and China in March and the Chinese Labor Day season in April. They will also conduct marketing efforts with incentives for shoppers purchasing Korean tourism products in partnership with a growing mobile payment company in China.

    In May, the ministry will welcome visitors from Beijing with a roadshow on K-tourism to restore tourism between the two countries. They will develop new tourism products and programs to increase the number of long-term travelers from the United States and Europe staying in Korea for over a week.

     

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    Additionally, events such as “Taste Korea” will be held in Paris and London to promote K-gourmet delicacies, while tourism products will be developed and advertised to cater to the preferences of visitors from Southeast Asian countries.

    The MCST is also focused on creating competitive local tourism content and large-scale events. They plan to integrate Cheongwadae, Gyeongbokgung Palace, Bukchon Hanok, and Seochon Villages, and Bugaksan Mountain into the Cheongwadae Tourism Cluster, turning the area into a landmark for K-tourism. They will select 10 traditional markets with appealing dishes and spectacles and assist local communities in revitalizing them as key tourist attractions.

    A series of large-scale K-pop concerts and events will be launched between April and October in Busan, Jeollabuk-do, Incheon, Jeju, Seoul, and other areas in Korea. The K-culture large-scale event series opens with Seoul Festa (April 30th), followed by the Busan Dream Concert (May 27th), Saemangeum K-pop Concert (August 6th), Incheon K-pop Concert (INK, September 9th), and Hallyu Tourism Festival (October).

    Furthermore, the MCST is aiming to expand high-value-added medical tourism, international conferences, and luxury tourism with “K-premium.” They will provide a customized medical tourism package to match different regions’ medical strengths, making it easier for visitors to access quality medical services while enjoying their stay in Korea. The MCST is also planning to attract international conferences to Korea by providing attractive facilities and programs for participants. They will also promote luxury tourism by providing premium services and experiences to high-end tourists.

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    Seoul Cosmetic Surgery

    In conclusion, the Visit Korea Year 2023 campaign is an ambitious and comprehensive effort by the Ministry of Culture, Sports, and Tourism to leverage the global popularity of K-beauty, K-fashion, and K-gourmet delicacies into increased tourism and economic growth for Korea. Through targeted marketing activities for different regions and age groups, competitive local tourism content and large-scale events, and high-value-added medical tourism, international conferences, and luxury tourism, the campaign aims to showcase the diverse and vibrant aspects of Korean culture and attract visitors from all over the world. As a result, the campaign has the potential to not only boost Korea’s domestic consumption and exports but also foster greater international understanding and exchange. So, if you’re planning your next travel destination, consider putting K-tourism on your bucket list and experiencing the beauty and excitement of Korea for yourself!

  • Chuseok 2021: What Is The Festival Looking Like This Year?

    Chuseok 2021: What Is The Festival Looking Like This Year?

    It’s this time of the year again, while some of you might be busy pulling out your cute boots and scarves to go pumpkin carving, the Koreans are now preparing for Chuseok 2021 (“choo-suhk”). It is otherwise known as the Korean thanksgiving – a celebration of bountiful harvest with their beloved family and food. 

    If you have no idea what Chuseok is, feel free to check out this article before you proceed! You will find out everything you need to know about Chuseok, the most significant traditional holiday in Korea.

    Chuseok 2021: What do we know?

    Chuseok 2021
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    Celebrated on the 15th day of the eighth lunar month, Chuseok 2021 will be happening on the 21st of September this year. It is a week earlier than usual. Being a national holiday, the Koreans would get a three-day off to travel back to their hometown and pay respect to their ancestors during this festival. And together, they thank the Gods for the plentiful harvest, and pray for a successful harvest in the coming year. The holiday begins on the 20th of September and ends on the 22nd for Chuseok 2021. The weather during these few days is almost always really great, too! Fingers crossed for a nice weather this year as well!

    Looking back at chuseok 2020

    As most of us already know, our lives were pretty much cancelled last year due to COVID-19. This of course included Chuseok 2020. In light of the safety concerns during this dreadful situation, the South Korean government strongly encouraged South Koreans to stay put and not to travel for Chuseok 2020. Most Koreans – very begrudgingly – surrendered to the coronavirus, and stayed at home for the holiday in order to avoid aggravating the outbreak.

    What should we expect for chuseok 2021?

    Because of last year, it begs the question, what is Chuseok going to be like this year? What are the restrictions, what is new, and what will change?

    Coronavirus in South Korea now

    The Covid-19 pandemic situation in South Korea was unsteady, it was affecting the government’s decision on what precautions to take in advanced to Chuseok 2021. However, the cases have been dropping recently. This is mainly due to the fact that more and more South Koreans have been getting the vaccination. According to a news article on The Korea Times, the daily cases of coronavirus have stayed under 1,500 for two consecutive days.

    While still (reasonably so) fretting over the potential flare-up of corona cases during the Chuseok 2021 holiday, the Korean government has eased the restrictions, including the social distancing, curfews, and in-person visits. On top of that, transportation will still be available across Korea. So that more Koreans could go back to their homes to be with and celebrate Chuseok 2021 with their family. Nonetheless, the government still advises the South Koreans not to travel if not necessary, so as not to cause the bounce-back of cases. They also urge the Koreans to take the vaccine shot before celebrating the festival. They should wear a mask at all times as well. Thermal screening and sanitization equipment will be found everywhere.

    Despite the loosening of restrictions, many Koreans, especailly the ones in the cities, still choose not to travel back home for Chuseok 2021. While this is disappointing and frustrating, the national safety should always come first.

    What Is Already Happening?

    As many people’s traveling plans got cancelled, they have to make the best of this holiday with what’s possible. Thus, street markets are already packed with mountains of people. They are preparing for Chuseok 2021 by buying traditional food and other necessities for the holiday:

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    So as to help the underprivileged and the needy to also feel the joy of the festival, volunteers (with masks, of course) have been preparing songpyeon – a crescent-shaped rice cake – to give to these people:

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    How Can We Participate In Chuseok 2021 Too?

    Even though Chuseok seems to just be a holiday for local Koreans to celebrate with their own family. We, as foreigners, can feel the joy too by visiting the cultural and historical sites during Chuseok 2021.

    Places That Are Closed Due To The Pandemic

    All the major tourist attractions are still open. However, their opening time might be restricted and some areas, closed. Therefore, I strongly suggest everyone to check out thier official webpages before heading over there.

    Places You Can Go To:

    Joseon-era Royal Residences

    The five palaces – Gyeongbokgung, Changdeokgung, Deoksugung, Changgyeonggung, and Gyeonghuigung – are for sure the must-see destinations for the Chuseok holiday. The government would usually waive the entry fee or offer discounts on the tickets during this time of the year. They are amazing places to visit over the holiday as they have an array of traditional activities you can join or watch and interesting places you can go to inside. For example, in the Gyeongbokgung Palace, you can visit the National Museum of Modern and Contemporary Art, Seoul. You can also try on and rent hanbok (traditional Korean clothing) in the palaces. It is a perfect place to take beautiful pictures!

    But please be reminded that because of the pandemic, the guided tours in these palaces have been suspended. Deoksugung Palace only allows a certain amount of people to enter. Moreover, they all require their visitors to have proper sanitization and thermal screening. Just follow all the rules set to ensure your health, and you can enjoy every amenities and activities in the palaces.

    You can find out more about their opening time, the latest updates and other details on their websites:

    Namsangol Hanok Village
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    Namsangol Hanok Village is another popular place to go to during the Chuseok holiday. It is basically a home for five beautiful hanoks (Korean traditional housings) from the Joseon Dynasty. Apart from tourists, local Koreans also love going there with their families to spend the day. Traditional Korean performances, like folk dances (ganggangsullae) and instruments playing (janggu: hourglass drums).

    You may also participate in workshops and traditional games like yut, which is a kind of board game, and neolttwigi, which is a traditional outdoor game.

    Image Source: yut in the village
    Image Source: neolttwigi in the village

    They also have on-site archery experience and rice cake making classes during Chuseok 2021 in which you can join and enjoy with your loved ones.

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    Like in the palace, traditional Korean clothings are available for people to rent. Throw on these pretty hanboks and take pictures in front of the traditional houses!

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    If you want to know more about the Namsangol Hanok Village, and what activities they will be having, feel free to check out their official webpage!

    Performaces and Shows

    Apart from visiting historical places for the amazing scenery and cultural events, you can enjoy some traditional shows as well!

    p.s don’t worry about the language barrier, because these performances are non-verbal. You will understand them completely even if you don’t know any Korean. Plus, the very few words that would be spoken are mostly English.

    Jump Show

    The award-winning martial arts performance is a combination of talents and comedy. It is packed with martial arts like  ‘taekwondo’ and I promise it will have you laughing the entire time! Unfortunately, they have cancelled their daily show at Myeongbo Art Hall (Seoul) because of COVID-19. You can still check out their website for the latest updates for future references!

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    Cookin’ Nanta Show

    Sounds like a cooking show but it is actually a musical about a group of kitchen staff. The performace includes entertaining elements like acrobatics, magic tricks and comedy that guaranteed to draw you in. Performers would also play traditional Korean samul nori music – thus, a musical. Like the Jump Show, they also ceased having their daily show in Nanta Myeongdong Theater and Nanta Hongdae Theater. Keep an eye on their website, for more information and updates!

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    FANTA-STICK

    Nope. Not it has nothing to do with the soda fanta. It is actually a live musical with a fusion of “gukak” (Korean folk music) and modern pop & rock. The show also features visual performances like breakdancing and percussion playing. Performances are stopped for the last two years due to the coronavirus, but there is always hope for next year, right?

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    Any Other Places I Can Go?

    I know, I know. It sucks that you can’t go to many places during Chuseok 2021 because of the pandemic. But you can still go to openspaces like the palaces I have mentioned, or even just take a walk in one of the parks! Stunning orange and red foliage with the autumn breeze, Chuseok is a beautiful time in Korea. So even just wandering around the city you’re in is an awesome activitiy to do in Chuseok. Seoraksan Mountain is known for it’s jaw-dropping autumn views, take a stroll there and see for yourself!

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    Wait… What If You Can’t Travel??

    There’s no need to panic. I got you! Even if you can’t travel anywhere during Chuseok 2021, you can try making the traditional Korean food featured in this festival instead. So, even when we’re stuck at home, we can still have a taste of this joyous holiday (literally)! Check out Kimchimari to see how to make the traditional food! Also, there are many recipes exclusive for Chuseok here! Her recipes are easy-to-follow and very thorough, perfect for even amateur cooks/baker like myself!

    If you want to know more about Korean culture and festival, feel free to check out our blog page!

  • The Conflict Between Spotify in South Korea and Kakao M

    The Conflict Between Spotify in South Korea and Kakao M

    One of the most diverse industries in the world is music. There is music you will love, music you will hate, and music that will just fill every other emotion you feel. That’s what makes music one of the most amazing creative platforms out there. It can do anything, be anything, and just be unapologetically itself. Now, throughout the years there’s been many different streaming platforms one can utilize to listen to all kinds of music. One of the biggest in the world now, Spotify—with over 300-something million active monthly listeners—is helping music from all over the world be heard. And, recently, with the release of Spotify in South Korea, music is getting more diverse than ever.

    All You Need to Know about the Release of Spotify in South Korea

    Just last month, on February 1st, Spotify came out in South Korea. With this release, the Swedish company now has a total of 93 countries that it’s accessible in. Compared some other countries, it took quite a while for Spotify to come to South Korea. The music streaming service was first launched in October 2008, making it almost thirteen years until it was able to come out in South Korea.

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    Why did the launch of Spotify in South Korea take so long?

    With it taking thirteen years to launch Spotify in South Korea, you might be wondering why it took so long. And while there’s probably a ton of logistics behind this reasoning, the company’s Global co-head of music, Jeremy Erlich, says that it took so long because they “wanted to do it the right way” in this Billboard article.

    To be a proper streaming service, there is a ton of backend work that Spotify has to do. With the rights to the music, with the artists, with the artists’ companies… and so many more. They couldn’t have simply dropped the app into existence and started adding music to it. There was a lot more paper work to do than that.

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    Spotify, like many other music streaming apps, rely on artists putting their music into this “sharing/streaming” bank. This bank of sorts (mostly a large file that has access to all sorts of music) gives streaming apps the rights to the music while also keeping the rights for the artists. It’s complicated and difficult to explain easily, so I’ll just leave it here for now. Just know it takes a lot of legal processing to run a streaming service.

    In order to launch Spotify in South Korea, the company most likely had to adapt many things to fit South Korea’s music and legal world. This is most likely the biggest reason it took so long to launch.

    Competition for Spotify in South Korea

    Though Spotify has launched in South Korea, that doesn’t necessarily mean their work is done now. In fact, there’s already a few music streaming services in South Korea that they have to compete against. This means strong advertisements (which I will mention later), competitive pricing for subscriptions, and providing something the others don’t. Some of Spotify’s competition include Melon, Apple Music, YouTube Music, Genie, and FLO.

    Of the music streaming services in South Korea, the largest one is Melon.

    What is Melon?

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    Melon is a South Korean music streaming service that launched in late 2004. This streaming service, developed by SK Telecom and currently owned by Kakao M, has millions of songs available in its library—with most of them being Korean.

    This service is only available in South Korea (and Indonesia with its partnership with Telkom Indonesia in 2010). It has a total of 28 million users, and 5/6 million active monthly listeners in South Korea alone.

    What makes Melon and Spotify competitors?

    Surely, it might not seem like much of a competition on the surface level. But, with both services being in the same business, there’s more than a little competition. With the introduction of Spotify to South Korea, Melon very well might lose a few (thousand… million… who knows) subscriptions/monthly listeners. This would take business away from Melon. On the other hand, many people in South Korea might already be dedicated to Melon and not make the switch to Spotify. This would take business away from Spotify.

    Only time will tell for how this competition goes, but the release of Spotify in South Korea is far from a bad thing—even if it has some competition.

    What does the release of Spotify mean for the music world in South Korea?

    Amongst the healthy competition between music streaming services, the release of Spotify in South Korea actually brings a lot of good things, too. For one, this opens the door for way more South Korean music to be discovered. And no, I’m not just talking about k-pop.

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    With Spotify not being available in South Korea previously, a lot of lesser known artists and many companies were not able to get their music onto the streaming service. This was mainly due to the legal side of the music world. But it also had to do with the fact that it wasn’t available in their country yet. Many artists didn’t even think to put their music on the service since they couldn’t use it anyways.

    Now, however, with the service finally available, much more Korean music has made its way onto the service. And not only that, Spotify itself has released a lot more company made playlists that are geared towards Korean music.

    There are playlists like the “Best of Korean Soundtracks” or “K-Power Vocals” that both include amazing songs. By having Spotify make playlists like this, it’s bringing more attention to Korean music. And not just k-pop (though, you will still see a lot of that within these playlists). It’s always easier to find an official playlist made by Spotify than a fan-made one. So the addition of more Korean music playlists is a really good thing.

    The launch of Spotify in South Korea opens the door of opportunity for artists big and small from the country. It opens the door for a worldwide audience to listen to them that they might not have previously had.

    Spotify Advertisements about the South Korean Launch

    Like I mentioned earlier, in order to make themselves stand out, Spotify would have to have some pretty influential advertisements. And what’s more influential than popular artists?

    Right from the get-go, as soon as the service was released in South Korea, there were tons of short “welcoming” videos from many South Korean artists. This included artists like BLACKPINK, BTS, Dynamic Duo, TWICE, NCT, Eric Nam, Treasure, Stray Kids, Code Kunst, and plenty of non-Korean artists that are just as big.

    By having such widely popular artists welcoming them to South Korea, I’m sure many fans were downloading Spotify to use. And it’s only been a week since their launch… I’m sure their advertisements will only get bigger and better as time goes on.

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    The Spotify and Kakao M (Melon) Conflict

    If you’ve taken a look at any social media in the past few days, you would find many k-pop fandoms in chaos as their favorite’s music got unannouncedly pulled from Spotify. This removal of multiple k-pop groups’ music—including artists like Seventeen, IU, Epik High, Monsta X, GFriend, and many others—came as a surprise to fans. When it first happened, the issue trended worldwide in Twitter and fans were absolutely devastated. (As they should be.)

    Now, when this issue first came about, many speculations as to why this music suddenly vanished from Spotify circled around. However, the most common denominator for these speculations had to do with Kakao M (or the company who owns Melon). Every artist removed from Spotify was distributed by Kakao M, so the connection was inevitable.

    When Spotify first launched in South Korea, many were unsure of how it would fare with Melon already leading as the country’s number one music streaming service. Though fans originally speculated that the removal of Kakao M’s music from Spotify had more to do with Kakao M, it seems that Spotify might also be to blame.

    In this article from BBC, Spotify mentions that the global licensing deal that had been in place with Kakao M expired. And due to Spotify’s policies of dealing with both global and domestic contracts as one, it was not renewed.

    According to this Soompi article, though, Kakao M says it was Spotify who chose not to renew the contract. So… who’s really to blame?

    Both companies say they’re working on a new contract, but there are no news about it yet. So I guess we will just have to wait and see if these artists return to Spotify.

    Spotify: Now Available in South Korea!

    The South Korean music scene is now going to get a much larger, worldwide audience than ever before. The launch of Spotify will do so many great things for artists to get their music out to the rest of the world. This is undeniable. And we can’t wait to see where it goes from here.

    To read up on other Korean news, you can check out the News Section of our blog. Or, if you’d like to just roam through our other articles, feel free to take a look at our Blog Page. There are plenty of great articles to read through.

    To learn more on Spotify vs Kakao M, watch the short video below!

    [embedyt] https://www.youtube.com/watch?v=hrv2zUylz4U[/embedyt]

  • KWORLD NOW KOREAN NEWS

    KWORLD NOW KOREAN NEWS

    Welcome to KWORLD NOW News, your one-stop weekly source for everything Korean Culture! Here are the highlights for the week of February 26, 2021!

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    BIGHIT & UMG

    On February 17th, two music giants – BigHit Entertainment and Universal Studios (UMG) – announced their exclusive collaboration with the goal of improving future artist opportunities. Along with BigHit’s successful strategies for connecting artists with fans, UMG will gain access to platforms such as Weverse. Many of UMG’s current artists have already joined.

    The two companies are also planning to create a brand new “global” K-pop group with members being chosen through world-wide audition programs similar to shows like Produce 101 and I-LAND. This partnership is promising to further break the barriers of borders and language and bring K-pop further into the mainstream than ever before!

    iKON

    KPop group iKon is set to make their long anticipated comeback with their single ‘Why Why Why(왜왜왜)’ The new song is set to be released on March 3rd at 6PM KST(4AM EST.)This is their fourth comeback as a group. The teasers for the anticipated new song show the boys against a simple grey background along with a somber clip from the song.

    According to a statement from YG Entertainment, group member Bobby will soon stop promotions for his solo release to fully focus on the group’s comeback and participation on the upcoming show ‘Kingdom: Legendary War.’ Kingdom, an Mnet survival show, will include other groups such as Stray Kids, ATEEZ, BTOB 4U and THE BOYZ and is scheduled to air in the beginning of April.

    JENNIE & G-DRAGON

    On Wednesday evening February 24th, news about BigBang’s G-Dragon and Blackpink’s Jennie secretly dating took many KPop fans by surprise.

    According to Korean media outlet Dispatch, the two were spotted at G-dragon’s penthouse after Jennie was finished with Blackpink’s online concert on January 31st. They referred to G-Dragon’s home layout having a personal parking space and a private elevator which apparently Jennie would use without the need to verify her identity.

    YG quickly issued a statement stating it couldn’t confirm the relationship between the two, but Dispatch said that, according to a source close to the couple, the two stars’ relationship is an open secret at YG Entertainment. Is it just a rumour? Only time will tell!

    ACTORS/IDOLS

    Following the bullying scandals rocking the Korean sports world, a surprising surge of bullying allegations have come out in the past couple of days. Several idols and actors from different agencies are being accused of being involved in so-called ‘iljin’ or school bully gangs.

    Last week actor Jo Byung Kyu (조병규) dealt with the allegations from an anonymous netizen. His representatives quickly dealt with the rumours, stating they will not tolerante defamatory comments and will proceed with legal action.

    Since then, claims about Seventeen’s Mingyu, (G)I-DLE’s Soojin, Stray Kid’s Hyunjin, actress Park Hye Soo and actor Kim Dong Hee have also surfaced. Netizens are waiting anxiously for further information on if these allegations are true.

    NAVILLERA

    Based on the popular webtoon published in 2016 – Navillera (나빌레라), ‘Like A Butterfly’ is a drama following the story of Duk Chool, a 70 year old man who begins taking ballet lessons, and 23-year-old Chae Rok, a ballerino who has a hard time succeeding and a dwindling passion for dance. Chae Rok’s life takes an unexpected turn when she meets the old but dedicated ballet student Duk Chool.

    Starring Song Kang(송강) and Park In Hwan(박인환), the kdrama has already begun airing, and you can watch it on Mondays & Tuesdays at 21:00 KST on tvN.

    A FOOL’S DREAM

    From March 29th, the romantic drama titled ‘A Fool’s Dream (속아도 꿈결)’ starring Ham Eun-Jung (은정) and Lee Se-Na (이세나) will follow the story of two parents from different cultural backgrounds who decide to remarry. Together with their now adult children, they become one big family.

    How will the family navigate their differences? You can find out more starting March 29 every Monday & Friday between 20:30 & 21:00 KST on KBS1.

    IDOL BDAYS

    Party hats on! It’s time to celebrate next week’s Idol Birthdays! Here are the names and dates to remember to wish your favorite idol a happy birthday.

    –Wonho (Monsta X) 3/1/1993

    – Chorong (APink) 3/3/1991

    – Jangjun (Golden Child)  3/3/1997

    – Yeri (Red Velvet) 3/5/1999

    – Choa (AOA)  3/6/1990

    KOREAN WORD OF THE DAY

    Today’s word of the day is 문제 – problem.

    When you want to say that a job looks easy, or that’s everything’s okay you can say ‘문제 없어요’ (No Problem!)

  • Big Hit Entertainment and Naver to Create New Fan Platform (2021)

    Big Hit Entertainment and Naver to Create New Fan Platform (2021)

    Big Hit Entertainment and Naver are joining forces to create a new fan platform. Their goal is to enhance the fan-to-artist experience by merging Vlive and Weverse. Here’s what we know so far about the collaboration between Big Hit Entertainment and Naver.

    Who is Big Hit Entertainment?

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    Big Hit Entertainment was established in 2005 by Bang Si-huyk. The first group Big Hit signed was 8Eight in 2007, however, the group disbanded and only Lee Hyun remains at the company. Big Hit briefly signed a joint management contract with JYP Entertainment for the group 2AM in 2008. In 2010, Big Hit Entertainment signed RM as a trainee and the first member of the final BTS lineup. The final lineup also includes Jin, Suga, J-Hope, Jimin, V, and Jungkook. The group debuted in June of 2013. 6 years after BTS, Big Hit Entertainment unveiled their next boy group, TXT. The group consists of 5 members; Soobin, HueningKai, Beomgyu, Yeonjun, and Taehyun.

    Later in 2019, Big Hit acquired Source Music, home to GFriend. In 2020, Big Hit Entertainment bought a large share of Pledis Entertainment. While Pledis still operates independently from the company, artists from Pledis, including Seventeen and NU’EST are promoting overseas with Big Hit’s support. Towards the end of 2020, Big Hit announced that it had acquired rapper Zico’s company, KOZ Entertainment. These acquisitions are part of Big Hit’s plan to create a multi-label structure to bring about more collaborations and opportunities for all the artists involved. Additionally, Big Hit has invested $70 million USD into YG Entertainment’s affiliate company, YG Plus, to help promote YG’s artists like Blackpink, iKon, Big Bang, to a global audience.

    As of 2020, after going public on the stock market, Big Hit Entertainment is estimated to be worth over $7.6 billion USD. 

    What is Naver?

    Naver Corporation is a South Korean technology and software company. It operates the search engine, Naver, which is the most popular in South Korea. Naver first established its operation in 1999.

    Over the years, it expanded to provide more services like Junior Naver, which is a special search engine reserved for children. Naver Webtoon is a platform for artists and authors to share their stories with readers within South Korea. In 2014, with the global demand for webtoons, Naver launched LINE Webtoon which offers translations of popular webtoon series in seven languages: English, Mandarin, Cantonese, Taiwanese Indonesian, Thai, Spanish and French. Naver is also home to VLive, a global streaming service that broadcasts a variety of programs, including concerts, reality shows, and live-stream from idols and entertainers. 

    Other subsidiary companies associated with Naver include LINE, SNOW, Studio N, Naver Lab. Naver recently announced that they will be acquiring Wattpad, an online forum for amateur writers to publish their stories. The market value of Naver as of January 2021 is $45 billion USD. 

    What are Vlive and Weverse?

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    Naver launched VLive in 2015 with the goal of reaching international fans, specifically from China, Japan, Taiwan, Thailand, and Vietnam. It has over 1 million downloads on both Google Play and the Apple app store. 

    VLive hosts channels for K-pop idols such as BTS, TXT, Seventeen, GFriend, and other groups from other major entertainment companies. The app notifies fans anytime one of their favorite artists is doing a live stream. Fans are able to comment on the stream for a chance to be noticed by the artist. Vlive also has a plus feature, where fans can pay extra for exclusive content posted by the artists or group. 

    Weverse belongs to a Big Hit Entertainment’s subsidiary company, Weverse Company Inc, (previously known as beNX prior to the merge). It is a platform for artists and their fans, similar to Twitter. Fans can post their own status updates, share pictures, and interact with the artist’s posts. Originally, only Big Hit artists were on the app. However, with the company’s expansion, artists from Pledis, Source, KOZ, and other solo artists have joined Weverse. The app has around 2.4 million daily users. 

    VLive and Weverse Merging

    On January 27, Naver invested $371 million USD into Weverse Company Inc, making Naver one of the largest shareholders of the company. Additionally, Naver will be transferring VLive to Weverse Company Inc and subsequently, merging VLive and Weverse into one new fan platform. 

    Naver’s knowledge of technology and content transmissions combined with Big Hit’s global influence, the new platform aims to reach a broader audience to expand on Korean entertainment. The merge of VLive and Weverse will take about a year. In the meantime, both platforms will operate as they have been before. 

    [embedyt] https://www.youtube.com/watch?v=I2zsxJ82QI4[/embedyt]

    The Future of Big Hit Entertainment and Naver

    Through merging Vlive and Weverse, fans will be able to interact with artists in a more intimate and direct setting. Both Big Hit Entertainment and Naver recognize that they need to remain competitive in the entertainment and technology industries. They hope to take Korean culture overseas, not only in North America, but also in Europe, South America, and other parts of the world. Big Hit’s acquisitions and investments into major entertainment companies could also hint at possible collaborations between many artists in the future. 

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