Bang Si-hyuk Sets Sights on 1.4 Billion Indian Market

Bang Si-hyuk is focusing on the 1.4 billion Indian market.

HYBE announced on June 30th that it will establish an Indian corporation in the second half of the year, stating, “We are conducting local market research and practical work for establishing the corporation with the goal of launching around September-October.”

HYBE’s establishment of an Indian corporation is driven by Chairman Bang Si-hyuk’s will to export the K-pop methodology to the massive 1.4 billion-person market. Chairman Bang is directly overseeing the ‘Multi-home, Multi-genre’ strategy. ‘Multi-home, Multi-genre’ is a strategy to secure a leading position in the local music market by reflecting local culture and characteristics. This is a way to realize the sense of crisis he has consistently emphasized – “We must export and apply the K-pop business model to other music genres to survive” – on a global scale.

The ‘Multi-home, Multi-genre’ strategy is already showing results in major music markets that HYBE entered earlier. The most notable success is in the United States. HYBE America’s girl group KATSEYE has made it onto the Billboard ‘Hot 100,’ often referred to as the ‘dream chart,’ less than a year after their debut. KATSEYE is a group that Chairman Bang directly oversees every aspect of, from music and choreography to visual creativity. Their first EP, ‘SIS (Soft Is Strong),’s double title track ‘Touch’ entered the Billboard ‘Bubbling Under Hot 100’ at number 22 and was also included in NME magazine’s ‘50 Best Songs of the Year.’ Their digital single ‘Gnarly,’ released in April, entered both the American Billboard ‘Hot 100’ and the British Official Singles ‘Top 100,’ both considered the world’s two major charts. KATSEYE is a multinational girl group showcased by applying the K-pop methodology – discovering and training talent, producing albums, managing, and planning performances as an integrated chain.

HYBE acquired Ithaca Holdings, home to superstars like Ariana Grande and Justin Bieber, in 2021 to enter the world’s largest music market, the United States. In the same year, they established a joint label with Universal Music Group’s Geffen Records, and in 2023, they acquired QC Media Holdings, a top-tier hip-hop label home to famous hip-hop artists like Lil Baby and Migos. Chairman Bang and key executives spent more than half of the year abroad completing the acquisition process. Having secured these bases, they integrated local infrastructure and networks with the K-pop-style artist discovery and nurturing system, combined with Chairman Bang’s producing know-how, leading to the KATSEYE phenomenon.