Early this year, K-pop was the site of some truly Succession level drama, as Hybe (the company that launched BTS) attempted to steal SM Entertainment (a longtime mainstay of the industry) out from under Kakao (a Facebook + Spotify level media conglomerate). The story had it all: legendary businessman refusing to go quietly, alleged stock market manipulation, patricidal nephews, alleged corruption, Wall Street know-it-alls in WAY over their head, and at least one climactic stock-offering battle.
Now that the smoke has cleared, what did all the fuss tell us about Kpop? To learn more, we called Kara, host of the Idolcast, and our resident expert in all things K & J Pop. With her help, we explore the roots of this story, from Korea’s Bobby Brown being arrested on stage to the SM production machine that launched generations of dazzling stars. Ultimately, we tease out a picture of an industry in transition, as a world-conquering cultural model begins to look for the next thing—as its current structure starts to show its age. Come for the incredible saga of
Lee Soo-man, our new favorite media mogul. Stay for the commoditized communities coming soon to a fandom near you.
Music: James K - "Ultra Facial"
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