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K-pop, YouTube, Facebook, Korean Wave, Girls' Generation
K-POP'S GLOBAL REACH
On the heels of the successful launch of Korean TV dramas in foreign markets, K-pop began to make inroads in China, Japan and Thailand in the early 2000s. In recent years K-pop has expanded into Europe, the Middle East and the Americas in a second "Korean Wave." K-pop's current reigning girl group, "Girls' Generation," made their nationwide US debut with an appearance on "The Late Show with David Letterman" and "Live! With Kelly" this year.
In addition to highly well-received international tours, K-pop has experienced explosive online popularity. Views for K-pop videos reached 2.3 billion on YouTube in 235 countries in 2011.
K-pop's stature now transcends economic terms; it has become a strategic asset with halo effects on Korea's brand and its products. The economic effects of the second Korean Wave are estimated at about * 5 trillion as of 2010.1
The success of K-pop groups did not come overnight. Rather, the emergence of K-pop is the result of methodical planning and execution that offers lessons to any company setting its sights on the global market. This report analyzes K-pop's success factors, and suggests ways that Korean companies can leverage K-pop's techniques for their own benefit.
K-POP'S SUCCESS FACTORS
This report adopted a four-pointed "cultural diamond" model2 to determine the four factors that drove K-pop to new heights: preparation, delivery, consumers and content.
In the preparation stage, K-pop's major production companies lay the groundwork for moving product overseas. The process is systematically designed, starting with selecting prospective stars, putting them through a rigorous training regime, producing shows and promoting globally. Training in particular is highly engineered, with aspirants undergoing five to seven years of instruction in singing and dancing. Even after this process, there is no guarantee of actually appearing on stage. Thus, only the best of the best ever reach the eyes and ears of the public, ensuring K-pop's continuing competitiveness.
In the casting stage, production companies focus on finding bankable stars. Trainees are found through auditions or recommendations from existing celebrities. Auditions are also held overseas.
SM Entertainment, a leading K-pop producer, has been holding global auditions since 2006 in the US, Canada and Thailand, with 300,000 performers applying annually...