Park Jin Young Has Just One Reason As To Why JYP Didn’t Acquire Other Labels Like HYBE
An online community post gained attention for a previous video of Park Jin Young explaining his reason for not acquiring other labels for the company. This video seemed to resurface due to the recent feud between HYBE and ADOR CEO Min Hee Jin.
Unlike other companies such as HYBE, which acquired other labels, JYP had a different approach.
“Yeah, we can’t do that. We probably still couldn’t even if we had as much money as HYBE. Our company was created in 1997 and is now in its 26th year. For the past 26 years, we spent the most time creating our culture inside our company.
We wanted our agency to be transparent and healthy and join different hobbies/clubs as the well-being of the employees also spread to our artists, creating a culture that is equal and by helping one another.
We did nothing illegal, and with the time spent building connections, we decided to use that time to take care of our health, exercise, and put in much effort. With our culture finally taking root, if tens and hundreds of new people suddenly come in, they are bound to have their own culture.”
— Park Jin Young
“Acquiring other labels means they become a part of our company. When these different cultures come together, it’s a matter of setting the standard for the company, but culture is very important to us.
There are different stances on culture, and for JYP, we control the IP, but this is often not the case in the U.S. Just because we acquire a label, there is no guarantee that we will secure a stable amount of the company’s content.
Because there are different types of ownership, it would be nice to buy and use the IP to our company’s benefit, but it’s very different from Korean labels. Of course, HYBE seems to be doing well, but from our perspective, too many parts won’t be easy to handle.”
— Park Jin Young
Netizens felt that other labels needed to learn this type of mindset.
- “Although nothing can be done perfectly, it’s incredible that he can create a company with this mindset, which is almost impossible. It’s cool to see him creating a culture within the company.”
- “But how did they get a penalty of 0 KRW for the tax audit result?”
- “I don’t know about anything else, but I think the company atmosphere is nice.”
- “All companies need to learn from this.”
- “Out of all the big labels, JYP is the cleanest. (They do have some cult and school bullying problems, but compared to other companies, this isn’t anything.)”
- “Good.”
- “Internally or externally, I think it’s good that JYP’s signature image seems to have taken root.”
- “Without using illegal methods.”
- “He’s right on point about U.S. labels. Seeing the trouble HYBE is having after acquiring U.S. labels, it shows that Park has more insight than Bang.”
- “JYP’s internal club/associations look fun.”
- “He really nailed it about the U.S. labels.”
Watch the full interview below!
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