WEBVTT - K-Pop's Big Bet on Becoming Less Korean

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>I love K pop because they are, by far, I

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<v Speaker 2>would say, the coolest version of our generation.

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<v Speaker 3>Bloomberg reporter so he Can has been covering Korean pop

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<v Speaker 3>or K pop for nearly a decade as a journalist,

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<v Speaker 3>but she's been a fan for much longer than that.

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<v Speaker 2>Yeah.

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<v Speaker 3>Literally, I grew up with K pop, so he vividly

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<v Speaker 3>remembers her first K pop obsession.

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<v Speaker 2>So it was nineteen ninety seven when a trio girl

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<v Speaker 2>band called Ses come out of Nowhere. I first discovered

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<v Speaker 2>them from TV and three pretty young teenage girl gooves

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<v Speaker 2>were singing and dancing on a song called I'm Your Girl.

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<v Speaker 2>The song was mixed them a little bit of a

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<v Speaker 2>pop and RMB produced by SM Entertainment, and it completely

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<v Speaker 2>blew my mind. So I bought cast tapes up there

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<v Speaker 2>albums and gathered some of my friends practice their dance

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<v Speaker 2>routines and performed at school events, and that became my

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<v Speaker 2>annual thing.

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<v Speaker 3>Recently, so He started noticing something unusual in the K

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<v Speaker 3>pop songs getting released. A lot of their lyrics were

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<v Speaker 3>in English, not Korean. So she did what any Bloomberg

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<v Speaker 3>journalists would do. She and her colleagues started collecting data.

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<v Speaker 3>In this instance, they conducted a very fun sounding survey.

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<v Speaker 3>They analyzed every single K pop song released since nineteen

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<v Speaker 3>ninety five that included hits like BTS's Butter Small Drag,

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<v Speaker 3>but like Criminal and Black Pinks Killed This Love and

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<v Speaker 3>I found out something pretty surprising.

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<v Speaker 2>So almost half the K pop songs released this year

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<v Speaker 2>had the majority and lyrics, and this is the first

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<v Speaker 2>time in K pop's history like having a lot of

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<v Speaker 2>English the lyrics and English songs.

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<v Speaker 3>So he says that this push into English hasn't been

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<v Speaker 3>an accident.

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<v Speaker 2>And having more English lyrics is becoming a new norm

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<v Speaker 2>for Korean idol groups because their songs are actively drawing

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<v Speaker 2>more audiences not only in the US, but in some

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<v Speaker 2>regions in Southeast Asia where a lot of K pop

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<v Speaker 2>content like dance challenges become viral on TikTok and YouTube,

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<v Speaker 2>and most of them are using English as a main tool.

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<v Speaker 3>But if you take out the Korean, you're left with

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<v Speaker 3>a glaring question, what's K pop without the k Welcome

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<v Speaker 3>to The Big Take Asia from Bloomberg News.

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<v Speaker 1>I'm Sarah Holder.

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<v Speaker 3>Every week we take you inside some of the world's

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<v Speaker 3>biggest and most powerful economies and the market's tycoons and

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<v Speaker 3>businesses the drive this ever shifting region. Today on the show,

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<v Speaker 3>after years of meteoric growth, k pop is at a crossroads.

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<v Speaker 3>Can the genre grow its international audience without losing the

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<v Speaker 3>key components that made it a global phenomenon in the

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<v Speaker 3>first place?

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<v Speaker 1>So today, so what does the K pop industry look like?

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<v Speaker 3>Who are the key main players that we need to

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<v Speaker 3>know before we understand this world?

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<v Speaker 2>So there are so called four big companies, SM, High,

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<v Speaker 2>YG and JYP. SM is known as the pioneer of

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<v Speaker 2>K pop, which was established three decades ago. HIH, the

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<v Speaker 2>agency behind BTS, is the youngest one, but the biggest

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<v Speaker 2>in terms of the market value. And why just the

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<v Speaker 2>management company behind Black Pink and JYP is the agency

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<v Speaker 2>behind Twice and Straight Kids.

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<v Speaker 1>And what's the size of the K pop industry?

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<v Speaker 2>Like?

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<v Speaker 1>How much money does it make?

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<v Speaker 2>The size of the K pop industry is estimated to

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<v Speaker 2>be about like ten billion dollars according to Korea Creative

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<v Speaker 2>Content Agency, and the amount of the K pop export

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<v Speaker 2>was about one billion dollars last year.

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<v Speaker 3>Exporting K pop has been a pretty good business. Bloomberg

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<v Speaker 3>reporters spoke to fans in Los Angeles outside of a

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<v Speaker 3>concert for the K pop Fan Rise, who said they

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<v Speaker 3>spent thousands of dollars a year on merchandise, concert tickets,

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<v Speaker 3>and special events where they could meet members of their

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<v Speaker 3>favorite groups.

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<v Speaker 4>Probably a six thousand budget maybe if not more, depending

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<v Speaker 4>on how many concerts I go to. I mean just

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<v Speaker 4>say about this trip, like the ticket light and everything,

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<v Speaker 4>maybe like five hundred maybe each just for like today.

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<v Speaker 3>For me, I would say maybe about two or three thousands.

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<v Speaker 2>And this is not something like unusual for kpop fans

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<v Speaker 2>that we'll see a lot of, like a K pop

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<v Speaker 2>fans who are based in LA or Latin America, where

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<v Speaker 2>like friends who want to travel more to follow their

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<v Speaker 2>biggest artists.

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<v Speaker 1>What do fans say about why they love K pop

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<v Speaker 1>so much?

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<v Speaker 2>Well, I would say K pop is total package of

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<v Speaker 2>modern arts. It's not just about songs, their fashion, computer

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<v Speaker 2>graphic designs in their music videos and futuristic style and

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<v Speaker 2>the sounds which all comes together. But what makes fans

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<v Speaker 2>feel more connected to their stars and K pop groups?

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<v Speaker 2>I think it's song's message and the K pop star's

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<v Speaker 2>attitude toward fans. K pop artists are trained how to

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<v Speaker 2>use social media and how not to disappoint fans who

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<v Speaker 2>believe in them.

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<v Speaker 3>But the global fan base for groups like Rise Bts

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<v Speaker 3>and Black Pink are in some ways the exception.

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<v Speaker 2>So he K pop's largest consumer country is still South Korea,

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<v Speaker 2>and the fifty million and population is shrinking and aging

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<v Speaker 2>faster than any places in the world. So the core

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<v Speaker 2>consumer group teams to early twenties will be downsizing for

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<v Speaker 2>the next decade.

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<v Speaker 3>And an aging South Korean population isn't the only recent

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<v Speaker 3>challenge for the industry. South Korea's decision to allow a

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<v Speaker 3>US missile defense system to be installed in the country

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<v Speaker 3>has led to tensions with the Chinese government, and that's

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<v Speaker 3>impacting Chinese fans.

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<v Speaker 2>That prompted some sort of like boycotts and ban other

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<v Speaker 2>K pop bands in China. There was no official statement

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<v Speaker 2>from China that they are going to ban K pop

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<v Speaker 2>industry like suddenly, K pop groups and K pop companies

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<v Speaker 2>couldn't arrange any events and concerts in mainland China.

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<v Speaker 3>All of this might have been part of the reason

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<v Speaker 3>why sales of physical K pop albums to China have

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<v Speaker 3>plummeted this year.

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<v Speaker 2>There are a lot of like hypothetic copieces around that,

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<v Speaker 2>but there is no like a certain or clear answer

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<v Speaker 2>for that. But first of all, like a Chinese consumers,

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<v Speaker 2>they would still want to buy K pop pop albums

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<v Speaker 2>for sure, but there has been a rumor that Chinese

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<v Speaker 2>wholesalers stopped buying or stopped ordering work sales because of

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<v Speaker 2>some sort of like measures that Chinese government has made.

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<v Speaker 3>And that's why today, despite the passionate fans and the

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<v Speaker 3>billions in revenue, K pop has arrived at this crossroads.

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<v Speaker 2>Obviously, in order to make a lot of money, K

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<v Speaker 2>pop needs to transform their business model to make a

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<v Speaker 2>sustainable growth for the next decade and reach out to

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<v Speaker 2>a wider fan base. So it's K pop's mission to

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<v Speaker 2>reach out to a bigger global market for a survival plan.

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<v Speaker 3>To do that, some of the industry's biggest players are

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<v Speaker 3>arguing for a radical transformation.

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<v Speaker 2>So High founder punk she how he's declaring it's time

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<v Speaker 2>to take the K out of K pop.

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<v Speaker 3>Coming up after the break, how K pop is reinventing

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<v Speaker 3>itself and why this is causing something of an identity

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<v Speaker 3>crisis for the industry. One way for K pop groups

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<v Speaker 3>to appeal to a more global audience is to release

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<v Speaker 3>songs with more English lyrics, which is something Bloomberg reporter

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<v Speaker 3>so He Kim and her colleagues have confirmed is already happening.

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<v Speaker 3>Another strategy is for existing big name K pop groups

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<v Speaker 3>to team up with some familiar names in the international

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<v Speaker 3>pop community.

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<v Speaker 2>For example, BTS John Kook's latest album was produced by

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<v Speaker 2>Scooter Brown and executives and producers in La and Lisa

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<v Speaker 2>from Black Pink. She worked with Sony Entertainment's RCA. She

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<v Speaker 2>released a new song called the rock Star.

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<v Speaker 4>Glsis, a non adash of Rockstorm make your Favorite single launch.

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<v Speaker 2>She invited a lot of like a Thaie talent and

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<v Speaker 2>creators and musicians to get involved in her project. So

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<v Speaker 2>it's a multinational collaboration that can be just call it

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<v Speaker 2>as a Korean.

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<v Speaker 3>Pop But K pop companies are also launching new groups

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<v Speaker 3>from scratch using their tried and true formula for recruiting, molding,

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<v Speaker 3>and debuting talent.

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<v Speaker 2>The core process hasn't changed, but there are more auditions worldwide,

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<v Speaker 2>language lessons during training period, and tons of digital marketing

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<v Speaker 2>to promote the groups globally from the get go.

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<v Speaker 3>Getting these groups concert ready is time consuming and expensive.

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<v Speaker 2>It typically costs about like three to five million to

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<v Speaker 2>create an idol group, but there are some cases that

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<v Speaker 2>the costs exceed the ten million dollars these days.

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<v Speaker 3>So he got to meet one of Korea's most promising

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<v Speaker 3>next generation K pop groups last month at SM Entertainment's

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<v Speaker 3>headquarters in Seoul. The band is called Rise. They're the

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<v Speaker 3>ones those fans in LA were lining up to see.

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<v Speaker 2>The boy band is the latest idol group created by

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<v Speaker 2>SM Entertainment. Their music was based on the house music

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<v Speaker 2>produced by creatives based in US and Europe, and they

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<v Speaker 2>also got trained by Western hip hop choreographers for new songs,

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<v Speaker 2>so that resonates more with general audiences. But at the

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<v Speaker 2>same time, they kept the core value of K pops

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<v Speaker 2>such as empowering messages, emotional sounds, and phantom communications, so

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<v Speaker 2>they look very fresh but something very familiar to K

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<v Speaker 2>pop fans.

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<v Speaker 3>Meanwhile, Hibe, the label behind BTS, is trying something even

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<v Speaker 3>more experimental with an all girl K pop group called

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<v Speaker 3>kats Eye. They released their first single called Debut on

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<v Speaker 3>YouTube and on the group's website a little over three

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<v Speaker 3>weeks ago.

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<v Speaker 1>I don't ne know on to Trina Bourgeoisie.

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<v Speaker 3>I'll set them oh just how to make a scene,

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<v Speaker 3>just me mess much.

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<v Speaker 1>As you can hear.

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<v Speaker 3>Their lyrics are in English, but that's not the only

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<v Speaker 3>thing that's different about the group.

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<v Speaker 2>So among the members, there's just only one Korean member,

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<v Speaker 2>and their main stage is not Soul or South Korea.

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<v Speaker 2>Their main stage is now US and Hollywood.

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<v Speaker 3>In La Katsi's debut video has already been viewed over

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<v Speaker 3>three point seven million times. Even with those numbers, so

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<v Speaker 3>he says that doesn't necessarily mean the group is going

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<v Speaker 3>to take the world by storm.

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<v Speaker 2>It's early to say whether they will be successful, but

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<v Speaker 2>definitely it's a very new thing for the K pop

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<v Speaker 2>industry because it's a total collaboration with the US record

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<v Speaker 2>label to create a idol group but.

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<v Speaker 3>With only one Korean member, mostly in English lyrics, and an

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<v Speaker 3>American home base. I asked, so he what makes Kat's

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<v Speaker 3>Eye k pop at all? It's the question that's at

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<v Speaker 3>the heart of this new era for K pop. Yeah,

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<v Speaker 3>it's a billion pellar question. Denying we're abandoning k where

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<v Speaker 3>Koreans could be risky if the new groups fail to

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<v Speaker 3>appeal to both of K pop fans and general music audiences.

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<v Speaker 3>But if any new projects find a magical way to

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<v Speaker 3>keep the value of K pop and make a global appeal.

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<v Speaker 3>I'm pretty sure they will rewrite the pop history.

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<v Speaker 1>For the fans.

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<v Speaker 3>Bloomberg spoke to outside of that Rise concert in La.

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<v Speaker 3>The Embrace of English lyrics and k Pop got a

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<v Speaker 3>mixed review.

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<v Speaker 4>Vibe it's giving me. It is kind of hit or miss.

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<v Speaker 2>I do somewhat like all the created K pop English songs.

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<v Speaker 3>I just don't heard the one, just because that's already rooted.

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<v Speaker 2>That's where the culture is.

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<v Speaker 4>That's what they should be. I like to be able

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<v Speaker 4>to sing the words out if it doesn't matter, like

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<v Speaker 4>what language is, as long as it has like a message,

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<v Speaker 4>the meaning I like.

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<v Speaker 3>I don't know. They're so, he says, it's too early

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<v Speaker 3>to tell if K pop's new strategy will lead to

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<v Speaker 3>the next BTS, but the industry is setting its sites

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<v Speaker 3>even higher.

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<v Speaker 2>Attempting like Coachella is not enough for them at all.

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<v Speaker 2>So they want to go stadiums for like the size

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<v Speaker 2>of Beyonce and Taylor, Shift and Coldplay. Their dream now

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<v Speaker 2>is to perform at the super Bowl. Hot Time show.

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<v Speaker 3>A black pink BTS super Bowl show could be dynamite.

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<v Speaker 1>That's it.

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<v Speaker 3>For this episode of The Big Take, a podcast from

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<v Speaker 3>Bloomberg News, I'm Sarah Holder. This episode was produced by

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<v Speaker 3>Thomas Lou and Alex Zugura.

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<v Speaker 1>Who also mixed this episode.

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<v Speaker 3>It was edited by Stacy Vanick Smith. It was fact

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<v Speaker 3>checked by Naomi and Thomas Lou. There was additional reporting

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<v Speaker 3>by Jin Wu and Jeremy Linn. Our senior producers are

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<v Speaker 3>Naomi Shaven and Kim Gittleson. Our senior editor is Elizabeth Ponso.

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<v Speaker 3>Nicole Beemsterbor is our executive producer. Sage Bauman is Bloomberg's

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<v Speaker 3>head of Podcasts. Please follow and review The Big Take

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<v Speaker 3>Asia wherever you listen to podcasts. It helps new listeners

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<v Speaker 3>find the show. See you next time.