Monday, August 17, 2009

[Trans] Why BYJ drives on without stop even when 'Hallyu(Korean Current)' became 'cold current'

Why BYJ drives on without stop even when 'Hallyu(Korean Current)' became 'cold current' [Sports World]8/17/09*

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Why BYJ drives on without stop even when 'Hallyu(Korean Current)' became 'cold current'

Pioneers diverse business domains by thorough self control
[Sports World]8/17/09 08:15

Amid shrinking 'Hallyu along with world wide market slow down, BYJ, the representative star of the 'Hallyu' alone is driving on without stop.

The Key East, general entertainment company BYJ founded, announced on 16 in its reporting material that it achieved net profit at 950 million won for the first half in this year alone. The Key East merged the DA, a company listed in Japanese stock market in the first half in this year, rising up as its biggest stock holder.

The Key East plans to progress diverse businesses for profit in this year also with above as its base. FIrst, BYJ will get out in full scale to inform excellent Korean culture and contents, starting with publication of photographic travel essay 'Travel left to explore Beauty of Korea' in September.

In particular, (BOF) plans to perform unique business of managing masters in each field, who appear in this book.. By attending 100,000 people sized large scale event in Tokyo Dome in Japan on September 29~30, he plans to put efforts to promote 'Animation WLS' with Choi Jiwoo, and to inform Korean culture and tradition. Thanks to that, Key East is expecting growth in sales in this year.

Mr. Kim Kihong, CEO at the Key East told, "Because pretty much amount of sales of Key East in 2009 is planned to occur in the second half of the year along with large scale even in September, we expect more profit in the future."

However, the Hallyu is generally in stagnant status at present. The interest in the Hallyu is not as good as what it was previously, and there are no production companies who had profit from exporting dramas. What is the reason for BYJ, who became the first beneficiary of the Hallyu hot wind with KBS drama 'WLS', to have growing trend repeatedly, despite depressed Hallyu itself like these.

First of all, one can mention thorough self management as a businessman that BYJ has. BYJ is famous as an entertainer who always wakes up early, does not drink, and manage his time well. Such an self management can be a strong merit as a businessman. BYJ was born again as a businessman by thoroughness through self management like that in addition to image as Hallyu star.

Also, BYJ, not staying only as hallyu star, has been showing greatness of applying in business making the most of that. BYJ opened a traditional Korean restaurant 'Gosireh' in Tokyo, the Capital City in Japan, where he is gathering the highest popularity. It is the end product created by his ideal of showing treaditional Korean cuisine in a reataurant which is run by Hallyu star. With such application ability, BYJ pioneered diverse business domains, and created profitability.

In this way, BYJ raised his own company the best Hallyu business today, with ceaseless challenges and pioneering spirit, not being satisfied with his own position. Even analysis came out that such success of BYJ can become the solution for the stagnant Hallyu.

A source at a drama production company told, "Frankly, the Hallyu could not create profitable business model as it is in the state full of bubble all along," and "In that context, BYJ's business model is worth to be referred to. We have to develope products with further derivational ability on the basis of BYJ model, which is profitable at the same time it properly inform Korean culere."

Reported by Han Joonho,
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