Big Hit expands scale, plans for new Kpop idols and girl group

Discussion in 'K-POP' started by drifter, Jul 2, 2019.

  1. drifter

    drifter Trendsetter

    Jun 7, 2019
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    NorthToSouth-No MoneyInPocket, 2 Balls In MyPants
    Big Hit expands scale, plans for new Kpop idols and girl group
    2 July 2019


    Ahead of the formation of a new girl group and K-pop idols, Big Hit Entertainment (co-CEOs: Bang Shi Hyuk, Yoon Suk Joon; hereinafter Big Hit) started to reform the team.

    On July 2, Big Hit informed the plan on moving the headquarter from Daechi Ward, Gangnam District to Hangang Boulevard, Yongsan District, Seoul in May 2020.

    The company's new headquarters will be moved to a building that has just begun its construction (the current building is Yongsan Trade Center) and is expected to finish at the end of this year. Big Hit and its related companies will lease the entire from the 7th floors beneath the ground to the 19th floor above the ground.

    According to Big Hit, the move to a new building is the change resulting from the rapid growth in the personnel scale and necessary facility expansion. This place is expected to be the major operating center creating a breakthrough so that Big Hit can become a leading global enterprise through the solid physical and space platform.

    Notably, inside the new headquarter, various facilities for the related companies and multi-labels, and the special space for interacting with fans are likely to be prepared.

    Previously, on July 1, Big Hit made an official announcement about the joining of Min Hee Jin - the former creative director of SM Entertainment - in the role of a chief brand officer (hereinafter CBO).

    CBO Min Hee Jin will manage the brand of Big Hit - the company that is in the process of developing the brand and reorganizing its structure based on the business area - and all companies related to Big Hit. In addition to expanding its profile through a multi-label enterprise structure, Min Hee Jin will be also in charge of establishing an enterprise's identity through branding in the process of reforming the entire company.

    The perspective of Big Hit Entertainment's new building.

    In addition, she also plans to direct the launch of the new girl group as well as take charge of the creative orientation for many labels, except for Big Hit's label. On the other hand, CBO Min Hee Jin is expected to found her new record label, thereby showing her upgraded powerful ability on the role of a producer, from talent scouting to music production filed.

    Min Hee Jin - the newly appointed CBO - is currently evaluated as a pioneer who has put the keywords "visual directing" and "concept" on the surface of the entertainment industry, re-establishing and developing values, thereby changing the flow of the market.

    The current staff scale of the company Big Hit - founded by producer Bang Shi Hyuk in 2005 - is 250 employees. The analysis of the stock market shows that Big Hit's enterprise value in July 2019 has reached 1,280 ~ 2,280 billion won.

    In March, Big Hit founded Belif Lab, the joint venture company with CJ ENM with the investment capital of up to 7 billion won. With a 48% stake, Big Hit is training a K-pop idol group scheduled to debut in 2020.

    In addition, in 2018, Big Hit sought to enrich its business by founding two subsidiaries which are beNX - the entertainment platform company - and publishing company Be Origin. Big Hit currently owns 100% shares of both companies.

    Credit Source
    Sports Seoul = Reporter Lee Ji Suk
    Photo = Provided by Big Hit Entertainment
    Menean, AmmaAffa, poteto and 2 others like this.

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