Bang Si Hyuk, “I told JYP I would never start a business, now I run a company with the largest market capitalization”

Bang Si Hyuk, the CEO of HYBE, recently spoke about the background behind the creation of the company at a press forum.

As the founder and chairman of HYBE, Bang Si Hyuk established the predecessor to HYBE, Big Hit Entertainment, in 2005 and successfully planned and launched global superstar BTS. 

Additionally, 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 reminisced about his past and how 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 declared to my long-time friend in the music industry, Park Jin Young, that I would never start a business.“

Despite his reservations, Bang Si Hyuk went on to create one of the world’s most valuable entertainment companies. He remarked, “I feel the irony of life now that I am chairing the company with the highest market capitalization.“

Bang Si Hyuk also explained the rationale behind the creation of Big Hit Entertainment, saying, “As a composer, I wanted to continue working in the music industry for a long time. However, composers do not have 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 older.“

Furthermore, Bang Si Hyuk emphasized the importance of maintaining his position to keep the company running for an extended period. He stated, “I realized that to sustain the company, I had to remain in my position. Therefore, I am preparing for the future beyond Bang Si Hyuk, and the multi-label system is a result of that.“

Source: Nate