28/02/2025
[!!!] ARTICLE 250228 “Music producers invest at least 1 billion won to 10 billion won until idol debut”
[PRESS] titled 'Let's keep a promise: There is no K-pop without music producers!' FNF Entertainment CEO Choi Jae-woo took part in the discussion.
[News En Article by Lee Min-ji/Photo by Yoo Yong-ju]
It has been revealed that music producers use over 1 billion won in investment funds before debuting.
At a press conference titled 'Let's keep a promise: There is no K-pop without music producers!' hosted by the Korea Management Association, Korea Entertainment Producers Association, Korea Music Label Industry Association, Korea Recording Industry Association, and Korea Music Content Association (hereafter referred to as 5 music organizations) held at the JW Marriott Hotel in Seocho-gu, Seoul on February 27, F&F Entertainment CEO Choi Jae-woo took part in the discussion.
CEO Choi Jae-woo said, "I came out to talk about the topic of 'Beyond Prejudice', the position of a production company in the idol business, and the prejudice against small and medium-sized agencies and new agencies."
He said, "Recently, when I founded F&F Entertainment, I produced an audition program and am preparing to produce a girl group called Eunice and a new male idol. I realized that the reality of the K-pop industry that I have seen from the past has changed a lot and that the public is not aware of it. I thought that when deciding on policies, they are centered on large agencies."
CEO Choi Jae-woo said, "The idol generation cycle has become shorter, so producers have to make various efforts. They gather trainees through casting or hosting auditions, and provide training, food, and lodging. Idol planning is a risk from the very beginning. Usually, it goes through the process of planning, producing, and marketing an album. As K-pop has become global, the scope of marketing that we have to meet, deal with, and attract has expanded greatly. That means putting in a lot of time and effort."
He continued, "Since the K-pop industry is doing well, there seems to be a prejudice that all businesses are doing well. Not all producers produce in an affluent environment. There are words A and B in the contract, but I have never worked as A. I think that arguing about who is A and who is B is a later problem and an unnecessary issue. I produce and run the industry from an equal position. I want to lead K-pop in an environment without prejudice. Please watch over me and support me."
When asked about the costs before debut, including training, CEO Choi Jae-woo said, "There are costs even from the casting process before debut. Planning auditions, visiting domestic and international K-pop academies, and conducting audition programs incur costs from this process. In training, we do choreography, vocals, rap, directing while looking at the camera, and foreign language lessons. There may also be procedures or surgeries to upgrade our appearance. Considering pre-marketing and the production of our first album, I understand that we are spending at least 1 billion to 10 billion won."
Source: https://m.entertain.naver.com/article/609/0000957987
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