HYBE Labels becomes the first ever Korean entertainment company to officially become a conglomerate

On Monday, April 8, Korean media outlet Yonhap Infomax released an article revealing that HYBE Labels currently stands as a conglomerate. They're the first Korean entertainment company to ever receive the label. Naturally, this brings a great deal of pride to the country and HYBE artists, given the national representation it showcases.

According to the Fair Trade Commission's recent end-of-month results, the leading Korean entertainment agency was tentatively determined to hold more than 5 trillion KRW for its fair assets, which is the designated size of assets required for a company to be labeled as a conglomerate. The fair assets are the sum of the assets held by the 16 affiliates of the company. Some of the many large company affiliates of HYBE include Pledis Entertainment, Weverse, etc.

Yonhap Infomax Corporation also stated that the agency's assets at the end of last year amounted to 5.3457 trillion KRW, which is a 9.85 percent increase from the previous year. With an immense increase in its profits and exposure within just three years since the company's rebranding, this recent achievement stands as just one of the several it has accomplished.

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Fair Trade Commission reveals HYBE Labels as the first Korean entertainment company to stand as a conglomerate

HYBE Labels' long list of accomplishments now includes it being named the first conglomerate Korean entertainment company. At the end of every month, the Fair Trade Commission releases the results of the designations of a conglomerate company.

This month, HYBE Labels bagged its spot under the same category due to its handsome size of fair assets. It was also announced that it is the first entertainment agency to ever be labeled as a conglomerate. Fair assets refer to the sum of a company's total number of assets from its general affiliates and the total capital of its financial affiliates.

Since HYBE Labels houses around 16 affiliates, the assets of its housed companies, such as Weverse, Pledis Entertainment, and Big Hit Music, were compiled, making for a hefty total for HYBE. Following this recent announcement, netizens have been both proud and elated about the company's growth, recognition, and exposure.

In other news, HYBE Labels was also announced to sit on Fast Company's list of the world's most innovative companies. The announcement article revealed that the HYBE Label's approach and strategy used for its rookie K-pop girl group, NewJeans, were highly impressive, thereby standing as the reason behind its spot on the list.

HYBE Labels was established by Bang Si-hyuk in 2005 as Big Hit Entertainment. It was rebranded as HYBE in 2021. It grew to undertake and house several other entertainment agencies, such as ADOR Entertainment, Source Music, Pledis Entertainment, etc.

Apart from its nationwide growth, the agency also reached for international expansion by establishing its first franchise in America, HYBE America, which is managed by Scooter Braun. It also holds a franchise in Japan, HYBE Japan, which manages the agency's Japanese artists.

While Big Hit Entertainment, in itself, had been garnering a lot of recognition and growth due to its artists such as BTS, TXT, and ENHYPEN, its rebranding extended its success by a great level. Within a very short period of time, the agency's exposure grew immensely, and it also received much recognition for the same.

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As the company continues to impress not just netizens but also executives in the business and music industry with its quiet level of growth and development, it stands as a great opportunity and gateway of exposure for the HYBE artists housed under them.