How much does it cost to create a K-Pop group?
How much does it cost to create a K-Pop group?
JYP Entertainment revealed how much it costs for debuts, comebacks, and promotions. According to JYP Entertainment’s statistics, it can cost up to a staggering ₩900 million KRW (about $786,000 USD) just to train a new K-Pop group!
Can I open my own K-Pop company?
You have to be based in Korea and know fluent Korean. You need to be smart and experienced in business, economics and the Korean Entertainment industry. You have to have really good connections and LOTS of money.
How do I start an entertainment company in Korea?
- Be fluent in Korean.
- Get an F-visa. As far as I know this is done through points or marriage.
- Get the funding. You’ll need a good deal of money up front just for rent and things alone.
- Make connections. Social connections are incredibly important here.
- Find your employees.
- Find your talent.
Who is the richest agency in South Korea?
Now worth an estimated $2.7 billion, Bang heads the country’s most valuable entertainment agency (which recently changed its name to Hybe), easily trumping local incumbents JYP, SM and YG, previously known as the Big Three.
How to start a business in South Korea?
To start doing business in Korea you will need a Korean bank account and you will need to register your company in Korea. You will need sufficient funds. You will need to decide which legal structure your company will adopt. You can set up a private company in Korea (foreign owned) or you can find a Korean business partner.
How to become a successful K-pop debutant?
Many sources agree that there are only two ways to guarantee success for a newly debuted group. One is to be from one of the three major agencies (SM, YG, and JYP Entertainment). The other is to get help from a survival program like “Produce 101.”
How do I start a commercial bank account in South Korea?
There was not much information available on starting commercial bank accounts in South Korea. Generally, documentation such as identification documents would be required, and may require an initial deposit, as well as the business registration number.
How much does a company need to invest in South Korea?
According to InvestKorea, the company must invest at least 100 million won. If an investee corporation is a private business, the company cannot issue a business investment (D-8) visa. A trade (D-9) visa shall be issued if it invests KRW 300 million or more.