Recording companies are actively exporting to overseas markets.
According to sources on June 26th, SM Entertainment, The Music Factory, One Music, and other recording companies are sounding out export markets such as Japan, China, Taiwan and several other Asian countries, as well as Germany and other EU countries.
According to SM Entertainment CEO Kyeongwook Kim, his company has recently exported to Japan BoA`s single called "ID:Peace B". As soon as the single started selling in the Japanese market, it made it to number 17 on the daily chart of Oricon Chart, Japan`s music charts.
Response in Japan has been so good that a second single is to be launched at the end of July. Also in July and in August Fly To The Sky will unveil its second album followed by Shinhwa`s 3rd and 4th albums.
Previously, this company which has also sold an album called `K-POP 100%` which is a collection of member groups such as H.O.T, S.E.S, Shinhwa, and also S.E.S.`s 4th album "Be Natural", is ushering in the Korean music storm in Japan.
Blowing on the Korean music storm in China is The Music Factory`s CEO Taehyeong Kim. In July and September NRG`s 4th album and T.T.MA 3rd album are to be sold. In particular NRG`s 4th album will be sold at the same time in China as well as Taiwan, thus making Taiwan the next target for exports.
This company established a music institute in Beijing called `Kaige` and has also set up a pop artists` management agency, thus diversifying its business base in China.
Recording company One Music (CEO Kangwon Park) will launch the O.S.T of the movie mago in September in Europe. Also, it is under talks with recording companies in Europe to sell in the UK and Germany an album by a Korean heavy metal group, Silent Eye.
Eclipse Music (CEO Hoesung Im) is planning on launching in July the O.S.T. of "Modern Family", a Korean-Chinese joint drama series which will start viewing at the end of this month. The company is also in talks with Sony Music to sell a single by Yuri, a new pop artist in Korea.
Furthermore, S Planning is planning Sinawi`s debut album in Japan, Revolution No. 9 is planning Hyunjung Kim`s Hongkong album, and Utopia Entertainment is planning ACE+II, which is a joint album of Korean and Japanese artists, to sell overseas as well as in Korea.
Hopefully, such movement in the industry will lend strength to the floundering domestic recording market. Particularly in Asia, and especially in China and Taiwan, a "Korean front" has been blowing. Lately this wind seems to be headed towards Japan thus brightening the future of the industry.
According to The Music Factory`s CEO Taehyeong Kim "the Chinese market is hailing Korean pop artists. Later on when China enters the WTO and illegal copying of CDs can be controlled we can expect to see huge profits... if the government can provide some attention and support, we can see major exports of music stemming from the "Korean front".