Mulgogi Music, the one-man agency of trot "hero" Lim Young Woong, has revealed its yearly sales and operating profits for 2023.
First, the yearly sales reported by Mulgogi Music for 2023 came out to be 36.1 billion KRW (~ $26.4 million USD), while the label's operating profits were 11.4 billion KRW (~ $8.3 million USD). 24.8 billion KRW of total sales came from album sales, digital sales, and concerts, while 5 billion KRW came from media content, 1.6 billion KRW came from advertisements, etc.
Next, how much was Lim Young Woong paid? In 2023, the trot singer's total yearly earnings were 23.3 billion KRW (~ 17.1 million USD). This combines the singer's earnings from his promotions (including 19.2 billion KRW paid last year and 3.1 billion KRW remaining to be paid) as well as Lim Young Woong's dividends of 1 billion KRW.
Mulgogi Music, founded by Lim Young Woong in 2015, currently has 5 employees total, including CEO Shin Jung Hoon, who is known to have worked with Lim Young Woong since before his rise to fame through 'Mister Trot'. Lim Young Woong owns 50% of Mulgogi Music's total shares, while CEO Shin and one other executive hold the remaining 50%.
Meanwhile, after winning 1st place on the trot competition program 'Mister Trot' in 2020, Lim Young Woong received offers to sign with various entertainment companies including HYBE Labels in 2021. He chose to remain with CEO Shin at Mulgogi Music, which began to see profits from Lim Young Woong's activities in 2022.
SEE ALSO: Lim Young Woong drops teaser for "ULSSIGU" MV from 2nd full album ‘IM HERO 2’
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Everyone, STAY. AWAY. FROM. HYBE