![[theqoo] PARK JINYOUNG PERSONALLY SAYING WHY HE WOULD NEVER OPERATE JYP LIKE HYBE](https://blogger.googleusercontent.com/img/a/AVvXsEjs5WeX9ttsotIiWfy_YVbYfq8GRjiNnURR-JVwjsaK5J0DkgZGEVOvMxYWcY37JQKAAsgYqeUGwcLZe2JS61cXU4KXd1j26ieYqiqz0qEBHYCSVXlaQJDdYQepXi2bKFOnVrJx7hIAyv72BodkRsmRrkgIzW4hjs58P8r6vMEvZQsHprS2PJbEn2mAFSpE=w1200-h630-p-k-no-nu "[theqoo] PARK JINYOUNG PERSONALLY SAYING WHY HE WOULD NEVER OPERATE JYP LIKE HYBE")
(T/N: The whole post is made of screenshots – only translating the text)
Interviewer: They would give money for these things (T/N: other companies) and buy them
Caption: HYBE’s Globalization Strategy: Mergers and Acquisitions
– Acquired QC Music for 300 billion won
– Acquired Ithaca for 1 trillion won
Interviewer: But I feel like their strategy is a bit different from JYP
JYP: Yeah, we wouldn’t be able to do that
– Even if one day, we have as much money as HYBE
– I think that the reason we would never be able to (be like them) is that our company was founded in 1997
– It’s been operating for 26 years
– In those 26 years, the thing I worked the hardest on was to make a culture
– The culture inside the company
– A culture that is transparent, healthy, doing club activities…
– That kind of well-being among the staff is passed on to the artists, creating a horizontal, supportive culture where everyone looks out for each other
– No doing anything illegal nor cheating
– Instead of spending time building connections, they should focus on managing their own health or exercising. They’ve put in a lot of effort, and only now has that culture finally taken root. But when dozens or even hundreds of new people come in…
Interviewer: If you do M&A, it’s not easy to adjust the company’s culture right?
JYP: These people have their own culture right?
– If we acquire them, they would become part of our company
– And when two completely different cultures merge, it ultimately comes down to where we set the standard for leading the company
– For us, our culture is too important
– We have our culture’s position and there’s something else too
– JYP has total control over the JYP IP
– But there are a lot of cases in the US where it’s not like that.
– Just because we’ve acquired this company doesn’t guarantee that we’ll have a large and stable supply of its content. The ownership rights are quite varied and exist in many different forms, so it would be great if we could use those IPs long-term as we need.
– However, it’s very different from how things work with Korean companies
– Of course, it worked out fine for HYBE but from our point of view, I think that a lot of areas that make us think that things won’t be so easy
1. No matter what they do, the fact is that they’re still better than HYBE
2. I’ll praise you for what you do well but they should still have some tact
3. It’s hard to have a healthy culture and pay taxes cleanly right
4. To be honest, JYP, you only need to pick better songsㅜㅜㅜ
5. It’s my first time fangirl on a JYP idol in 2024 which is fascinating… anyways, I hope things work out for you
6. JYP is actually the better one out of the big companies
7. Please pick better songs
8. I’ve never fangirled on a JYP idol and only liked other companies’ idols but it’s true that they seem to be the better one here
9. That place will be triggered again after seeing this
10. Park Jinyoung has seen a lot when trying to grow his company so he knows what he’s talking about
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