Bang Si Hyuk, CEO of HYBE, recently spoke at a press forum about the background of the company’s creation.
As the founder and president of HYBE, Bang Si Hyuk established HYBE’s predecessor, Big Hit Entertainment, in 2005 and successfully planned and launched the global superstar BTS.
In addition, HYBE has expanded its reach through subsidiary labels such as Big Hit Music, Belift Lab, Source Music, Pledis Entertainment, KOZ Entertainment, ADOR, HYBE Labels Japan and NICO.
During the forum, Bang Si Hyuk recalled his past and that he never expected to become a businessman. He said, “I was just a composer who loved music. I never thought I would become a businessman. I even told my longtime friend in the music industry, Park Jin Young, that I would never start a company.“
Despite his reservations, Bang Si Hyuk has created one of the most valuable entertainment companies in the world. He noted,I feel the irony of life now that I run a company with the highest market capitalization.“
Bang Si Hyuk also explained the reasons behind Big Hit Entertainment by saying, “As a composer, I wanted to continue working in the music industry for a long time. However, composers have no direct control over how long they can work in the industry. So I decided to create a company that I could run for a long time, even if I get old.“
In addition, Bang Si Hyuk stressed the importance of maintaining his position in order for the company to run for a longer period of time. He stated: “I realized that in order to keep the company going, I had to stay in my job. That’s why I’m preparing for the future beyond Bang Si Hyuk, and the multi-label system is the result.“
source: Nate
