Pakistan Affairs

Tag: Kpop

  • BTS\’ V interns as a cook in cutthroat ‘Jinny’s Kitchen\’

    [

    \"K-pop

    K-pop boy band BTS\’ V plays an intern in \”Jinny\’s Kitchen\” (tvN)
    \"From

    From left: Actors Park Seo-joon, Jung Yu-mi, Lee Seo-jin, singer V of BTS and actor Choi Woo-shik pose for photos before an online press conference. (tvN)

    Cable channel tvN’s smash-hit cooking and travel show “Youn’s Kitchen” is set to return with the spinoff series “Jinny’s Kitchen.”

    “I am at that age where I should become a boss and run my own business. I felt happy doing whatever I wanted,” actor Lee Seo-jin, the new CEO of the Korean street food restaurant featured the show, said in an online press conference Wednesday.

    Lee has worked alongside the Oscar-winning actor Youn Yuh-jung in “Youn’s Kitchen” since the show’s premiere in 2017.

    “Because ‘Youn’s Kitchen’ was promoting traditional Korean dishes to foreigners, I thought it would be interesting for Lee to sell bungeoppang overseas,” the series\’ director

    Na Young-seok said, explaining how he came up with the show\’s concept. Bungeoppang is a fish-shaped waffle filled with sweet red bean paste that is popular as a winter snack in Korea.

    “This idea developed into popular on-the-go meals and Korean street food. Luckily, we were able to open a new franchise restaurant, following the footsteps of ‘Youn’s Kitchen,’” Na added.

    Unlike the heartwarming, slow-paced “Youn’s Kitchen,” “Jinny’s Kitchen” will be more like a suspense thriller in which the restaurant crew are strictly evaluated by Lee. Throughout the series, the cast members keep each other in check and secretly reveal their own ambitions, according to the director.

    “Under a new company philosophy titled \’Making revenue is everything,\’ everyone (except Lee) worked really hard, trying to fulfill their roles. Some were saying that they wanted to open a franchise restaurant of their own, like ‘Yumi’s Kitchen,’ ‘Junny’s Kitchen’ or ‘Tae-hyung’s Kitchen,’” Na said, beaming.

    The upcoming variety show features South Korean movie stars Lee, Jung Yu-mi, Park Seo-joon, Choi Woo-shik and K-pop boy band BTS’ V. The star-studded cast sells Korean street foods including gimbap, tteokbokki, Korean-style hot dogs and more in Bacalar, a tropical destination in southern Mexico.

    \"Park

    Park Seo-joon plays a newly promoted chef in \”Jinny\’s Kitchen\” (tvN)

    Park, who is set to make his Hollywood debut in the Marvel film “The Marvels,” was surprised to discover his lesser-known greedy side.

    \”Though I got a new title, I still had a boss and a senior. Nothing really changed much for me. I always stayed inside the kitchen, working hard,\” said Park, the newly promoted chef in the series.

    “‘Jinny’s Kitchen’ is a variety show, but whenever Lee tried to close the restaurant, I started to get a little frustrated, thinking we could sell more if we worked a little longer. I felt that this is why people say, ‘Avoid the love of money,’” Park said, adding that he has come to respect people in the restaurant business even more as a result of being on the show.

    V, joining the series for the first time as an intern, said that he was more than happy to be a part of the “Jinny’s Kitchen” crew.

    \”Many tasks were waiting for me, and I had to work hard,\” V said, recalling his duties as an intern.

    “I felt grateful to be able to share unforgettable memories with everyone. As part of BTS, I considered myself as someone who couldn’t cook, but I got to be a chef in the series. After cooking some dishes, I became certain that cooking is definitely not entertaining,” V said jokingly.

    “Jinny’s Kitchen” is set to premiere at 8:50 p.m. on Friday on tvN and the streaming service Tving.

    The show will also be available in 12 countries including the US, the UK, Canada, Singapore, Hong Kong and Indonesia via Amazon Prime Video on the same day.

    By Lee Si-jin (sj_lee@heraldcorp.com)





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  • BTS\’ V interns as a cook in cutthroat ‘Jinny’s Kitchen\’

    [

    \"K-pop

    K-pop boy band BTS\’ V plays an intern in \”Jinny\’s Kitchen\” (tvN)
    \"From

    From left: Actors Park Seo-joon, Jung Yu-mi, Lee Seo-jin, singer V of BTS and actor Choi Woo-shik pose for photos before an online press conference. (tvN)

    Cable channel tvN’s smash-hit cooking and travel show “Youn’s Kitchen” is set to return with the spinoff series “Jinny’s Kitchen.”

    “I am at that age where I should become a boss and run my own business. I felt happy doing whatever I wanted,” actor Lee Seo-jin, the new CEO of the Korean street food restaurant featured the show, said in an online press conference Wednesday.

    Lee has worked alongside the Oscar-winning actor Youn Yuh-jung in “Youn’s Kitchen” since the show’s premiere in 2017.

    “Because ‘Youn’s Kitchen’ was promoting traditional Korean dishes to foreigners, I thought it would be interesting for Lee to sell bungeoppang overseas,” the series\’ director

    Na Young-seok said, explaining how he came up with the show\’s concept. Bungeoppang is a fish-shaped waffle filled with sweet red bean paste that is popular as a winter snack in Korea.

    “This idea developed into popular on-the-go meals and Korean street food. Luckily, we were able to open a new franchise restaurant, following the footsteps of ‘Youn’s Kitchen,’” Na added.

    Unlike the heartwarming, slow-paced “Youn’s Kitchen,” “Jinny’s Kitchen” will be more like a suspense thriller in which the restaurant crew are strictly evaluated by Lee. Throughout the series, the cast members keep each other in check and secretly reveal their own ambitions, according to the director.

    “Under a new company philosophy titled \’Making revenue is everything,\’ everyone (except Lee) worked really hard, trying to fulfill their roles. Some were saying that they wanted to open a franchise restaurant of their own, like ‘Yumi’s Kitchen,’ ‘Junny’s Kitchen’ or ‘Tae-hyung’s Kitchen,’” Na said, beaming.

    The upcoming variety show features South Korean movie stars Lee, Jung Yu-mi, Park Seo-joon, Choi Woo-shik and K-pop boy band BTS’ V. The star-studded cast sells Korean street foods including gimbap, tteokbokki, Korean-style hot dogs and more in Bacalar, a tropical destination in southern Mexico.

    \"Park

    Park Seo-joon plays a newly promoted chef in \”Jinny\’s Kitchen\” (tvN)

    Park, who is set to make his Hollywood debut in the Marvel film “The Marvels,” was surprised to discover his lesser-known greedy side.

    \”Though I got a new title, I still had a boss and a senior. Nothing really changed much for me. I always stayed inside the kitchen, working hard,\” said Park, the newly promoted chef in the series.

    “‘Jinny’s Kitchen’ is a variety show, but whenever Lee tried to close the restaurant, I started to get a little frustrated, thinking we could sell more if we worked a little longer. I felt that this is why people say, ‘Avoid the love of money,’” Park said, adding that he has come to respect people in the restaurant business even more as a result of being on the show.

    V, joining the series for the first time as an intern, said that he was more than happy to be a part of the “Jinny’s Kitchen” crew.

    \”Many tasks were waiting for me, and I had to work hard,\” V said, recalling his duties as an intern.

    “I felt grateful to be able to share unforgettable memories with everyone. As part of BTS, I considered myself as someone who couldn’t cook, but I got to be a chef in the series. After cooking some dishes, I became certain that cooking is definitely not entertaining,” V said jokingly.

    “Jinny’s Kitchen” is set to premiere at 8:50 p.m. on Friday on tvN and the streaming service Tving.

    The show will also be available in 12 countries including the US, the UK, Canada, Singapore, Hong Kong and Indonesia via Amazon Prime Video on the same day.

    By Lee Si-jin (sj_lee@heraldcorp.com)





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  • BTS\’ V interns as a cook in cutthroat ‘Jinny’s Kitchen\’

    [

    \"K-pop

    K-pop boy band BTS\’ V plays an intern in \”Jinny\’s Kitchen\” (tvN)
    \"From

    From left: Actors Park Seo-joon, Jung Yu-mi, Lee Seo-jin, singer V of BTS and actor Choi Woo-shik pose for photos before an online press conference. (tvN)

    Cable channel tvN’s smash-hit cooking and travel show “Youn’s Kitchen” is set to return with the spinoff series “Jinny’s Kitchen.”

    “I am at that age where I should become a boss and run my own business. I felt happy doing whatever I wanted,” actor Lee Seo-jin, the new CEO of the Korean street food restaurant featured the show, said in an online press conference Wednesday.

    Lee has worked alongside the Oscar-winning actor Youn Yuh-jung in “Youn’s Kitchen” since the show’s premiere in 2017.

    “Because ‘Youn’s Kitchen’ was promoting traditional Korean dishes to foreigners, I thought it would be interesting for Lee to sell bungeoppang overseas,” the series\’ director

    Na Young-seok said, explaining how he came up with the show\’s concept. Bungeoppang is a fish-shaped waffle filled with sweet red bean paste that is popular as a winter snack in Korea.

    “This idea developed into popular on-the-go meals and Korean street food. Luckily, we were able to open a new franchise restaurant, following the footsteps of ‘Youn’s Kitchen,’” Na added.

    Unlike the heartwarming, slow-paced “Youn’s Kitchen,” “Jinny’s Kitchen” will be more like a suspense thriller in which the restaurant crew are strictly evaluated by Lee. Throughout the series, the cast members keep each other in check and secretly reveal their own ambitions, according to the director.

    “Under a new company philosophy titled \’Making revenue is everything,\’ everyone (except Lee) worked really hard, trying to fulfill their roles. Some were saying that they wanted to open a franchise restaurant of their own, like ‘Yumi’s Kitchen,’ ‘Junny’s Kitchen’ or ‘Tae-hyung’s Kitchen,’” Na said, beaming.

    The upcoming variety show features South Korean movie stars Lee, Jung Yu-mi, Park Seo-joon, Choi Woo-shik and K-pop boy band BTS’ V. The star-studded cast sells Korean street foods including gimbap, tteokbokki, Korean-style hot dogs and more in Bacalar, a tropical destination in southern Mexico.

    \"Park

    Park Seo-joon plays a newly promoted chef in \”Jinny\’s Kitchen\” (tvN)

    Park, who is set to make his Hollywood debut in the Marvel film “The Marvels,” was surprised to discover his lesser-known greedy side.

    \”Though I got a new title, I still had a boss and a senior. Nothing really changed much for me. I always stayed inside the kitchen, working hard,\” said Park, the newly promoted chef in the series.

    “‘Jinny’s Kitchen’ is a variety show, but whenever Lee tried to close the restaurant, I started to get a little frustrated, thinking we could sell more if we worked a little longer. I felt that this is why people say, ‘Avoid the love of money,’” Park said, adding that he has come to respect people in the restaurant business even more as a result of being on the show.

    V, joining the series for the first time as an intern, said that he was more than happy to be a part of the “Jinny’s Kitchen” crew.

    \”Many tasks were waiting for me, and I had to work hard,\” V said, recalling his duties as an intern.

    “I felt grateful to be able to share unforgettable memories with everyone. As part of BTS, I considered myself as someone who couldn’t cook, but I got to be a chef in the series. After cooking some dishes, I became certain that cooking is definitely not entertaining,” V said jokingly.

    “Jinny’s Kitchen” is set to premiere at 8:50 p.m. on Friday on tvN and the streaming service Tving.

    The show will also be available in 12 countries including the US, the UK, Canada, Singapore, Hong Kong and Indonesia via Amazon Prime Video on the same day.

    By Lee Si-jin (sj_lee@heraldcorp.com)





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  • [History Through The Korea Herald] Capture of US spy ship symbolizes US-N. Korea tensions

    Summarize this content to 500 words
    Deep in the heart of the North Korean capital Pyongyang, moored along the Pothong River Canal, is a US Navy ship that is featured as an exhibition of the \”Victorious War Museum.\”The ill-fated vessel is USS Pueblo, the only active ship on the commissioned roster of the American Navy now held captive by another country.On Jan. 23, 1968, the world’s most powerful military was dealt an unexpected blow by the hands of a tiny communist state, when Pyongyang attacked the US Navy intelligence-gathering ship and captured it along with a crew of over 80.To this day, North Korea boasts about the 1968 attack and holds the ship up as its shining trophy.To the US, the “Pueblo Incident” remains a bitter memory, something it wants to find closure to.Last month, the US House of Representatives introduced a resolution that called on North Korea to return the hull, marking 55 years since USS Pueblo and its crew were seized. The incident resulted in the death of one crew member. The 82 other survivors were kept in North Korea for 11 months before being returned home.Crew of the USS Pueblo are released by North Korea after 11 months of captivity in this Dec. 23, 1968 file photo. (National Archives of Korea)Daring attack on USThe incident is detailed in The Korea Herald’s top story of Jan. 24, 1968, “Armed N. Koreans capture US navy vessel with 83 crew aboard in East Sea,” which shows that six officers, 75 sailors and two civilians were taken to the port city of Wonsan, Kangwon Province, in the North Korean side of Gangwon Province.The paper also shows that South Korea will hold Cabinet members Yi Ho and Kim Sung-eun responsible for the North’s failed assassination attempt on then-President Park Chung-hee. Just two days earlier, on Jan. 21, 1968, 33 armed North Korean infiltrators had been stopped just 300 meters from the presidential office, an indication of the hostile mood on the Korean Peninsula.Stunned by the capture, the US dispatched the USS Enterprise aircraft carrier to the East Sea, declaring the North’s action an “act of war,” the Jan. 24 edition shows. But no major breakthrough came, as a subsequent related article in The Korea Herald five days later — “Gov’t, US, reject proposal for swap of N. Koreans in ROK (South Korea) for hijacked ship” — shows that Pyongyang attempted to use Pueblo as leverage in negotiations with Seoul and Washington.This Jan. 24, 1968 edition of The Korea Herald carries the story of how the USS Pueblo and its 83 crew were seized by North Korea the day before. (The Korea Herald)The top story for this Jan. 30, 1968 issue of The Korea Herald says that South Korea and the US governments refused Pyongyang\’s proposal, which was to exchange the USS Pueblo and its crew for the North Korean agents who had been captured in the South. (The Korea Herald)North Korea and the US remain at loggerheads over who is to blame for the incident. The North to this day claims the USS Pueblo deliberately entered its territorial waters for espionage. But the US still says the vessel had been in international waters and any evidence or confessions of spy missions by the sailors had been fabricated.The US eventually agreed to sign an apology and admission of intruding in the North’s territorial waters and conducting espionage activities, along with reassurance that it would not happen again. But the aforementioned resolution by the US Congress and Washington’s official position of denying any wrongdoings by the Pueblo shows that this was only done to acquire the freedom of the crew.A declassified document by the US National Security Agency showed the US military had mulled various military actions, including an airstrike and raid across the Demilitarized Zone. But then-US President Lyndon B. Johnson ultimately rejected direct military engagement, and opted for the show of force with the American fleet moving to South Korea.Another memo by the NSA, released in 2004, showed that the US had feared bringing China and the Soviet Union more directly into the situation, risking escalation of the crisis and hostility on the Korean Peninsula at the height of the Cold War. The US was still knee-deep in the Vietnam War at the time, and not even a decade had passed since the Cuban missile crisis of 1962.The Pueblo crew remained in North Korea for 11 months until they were released on Dec. 23, 1968, and the testimonies indicate that the 336 days had been cruel on the prisoners. Stu Russell, one of the captured sailors, said in a recent CNN interview that he “could just feel” the total and complete hatred toward the Americans from the North Koreans.Tom Massi, another crew member, told the Washington Post they were “beaten every day, humiliated, starved, just about anything you could think of” during the 11 months of imprisonment.In 2021, a federal district court in Washington awarded $2.3 billion in damages to the Pueblo’s crew and family members in a suit against North Korea.AftermathIn addition to the inhumane treatment of the prisoners, a US National Security Agency report released in 2012, “The Capture of the USS Pueblo and Its Effect on SIGINT Operations,” shows that the ship’s loss resulted in a compromise of classified materials aboard the ship, along with a “rare view of the complex technology behind US cryptographic systems.”After the Pueblo incident, the US conducted a cryptographic damage assessment that was declassified in 2006. It concluded that despite the crew’s efforts to destroy sensitive materials, they were unable to sufficiently dispose of them due to most of the crew not being familiar with cryptographic equipment.Crew of the USS Pueblo are released by North Korea after 11 months of captivity in this Dec. 23, 1968 file photo. (National Archives of Korea)The cryptographic technicians onboard were subject to intense interrogation by the North, although the damage report concluded that the North Koreans would have eventually understood everything without their information.In addition, the incident handed a material for propaganda for the belligerent North Koreans, who seem determined to ensure that no one would forget the moment of its scarce victory against the Americans. Last month, Rodong Sinmun published by the North’s Workers’ Party of Korea celebrated the 55th anniversary of the USS Pueblo’s abduction, bumptiously stating that North Korea will “obliterate the territory of its enemies upon invaders.”As the 1950-53 Korean War never officially concluded with a peace treaty, the US and North Korea remain at odds.On Monday, the US called on the UN Security Council to act against North Korea’s recent missile provocations. The attempt yielded no result due to the opposition of two veto-wielding members, China and Russia.Between the North’s nuclear programs, ballistic missiles, exchange of tough words and intermittent efforts on the part of Seoul and Washington to bring the communist state to the negotiation table to relieve tensions on the peninsula, relations between the US and North Korea have had their ups and downs.But rarely has it gone as far south as that fateful night on Jan. 23, 1968, and the rusting prisoner docked in the North Korean capital is a testament to the tumultuous and complicated relationship between Washington and Pyongyang.By Yoon Min-sik (minsikyoon@heraldcorp.com)
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    Deep in the heart of the North Korean capital Pyongyang, moored along the Pothong River Canal, is a US Navy ship that is featured as an exhibition of the \”Victorious War Museum.\”

    The ill-fated vessel is USS Pueblo, the only active ship on the commissioned roster of the American Navy now held captive by another country.

    On Jan. 23, 1968, the world’s most powerful military was dealt an unexpected blow by the hands of a tiny communist state, when Pyongyang attacked the US Navy intelligence-gathering ship and captured it along with a crew of over 80.

    To this day, North Korea boasts about the 1968 attack and holds the ship up as its shining trophy.

    To the US, the “Pueblo Incident” remains a bitter memory, something it wants to find closure to.

    Last month, the US House of Representatives introduced a resolution that called on North Korea to return the hull, marking 55 years since USS Pueblo and its crew were seized. The incident resulted in the death of one crew member. The 82 other survivors were kept in North Korea for 11 months before being returned home.

    \"Crew

    Crew of the USS Pueblo are released by North Korea after 11 months of captivity in this Dec. 23, 1968 file photo. (National Archives of Korea)

    Daring attack on US

    The incident is detailed in The Korea Herald’s top story of Jan. 24, 1968, “Armed N. Koreans capture US navy vessel with 83 crew aboard in East Sea,” which shows that six officers, 75 sailors and two civilians were taken to the port city of Wonsan, Kangwon Province, in the North Korean side of Gangwon Province.

    The paper also shows that South Korea will hold Cabinet members Yi Ho and Kim Sung-eun responsible for the North’s failed assassination attempt on then-President Park Chung-hee. Just two days earlier, on Jan. 21, 1968, 33 armed North Korean infiltrators had been stopped just 300 meters from the presidential office, an indication of the hostile mood on the Korean Peninsula.

    Stunned by the capture, the US dispatched the USS Enterprise aircraft carrier to the East Sea, declaring the North’s action an “act of war,” the Jan. 24 edition shows. But no major breakthrough came, as a subsequent related article in The Korea Herald five days later — “Gov’t, US, reject proposal for swap of N. Koreans in ROK (South Korea) for hijacked ship” — shows that Pyongyang attempted to use Pueblo as leverage in negotiations with Seoul and Washington.

    \"This

    This Jan. 24, 1968 edition of The Korea Herald carries the story of how the USS Pueblo and its 83 crew were seized by North Korea the day before. (The Korea Herald)
    \"The

    The top story for this Jan. 30, 1968 issue of The Korea Herald says that South Korea and the US governments refused Pyongyang\’s proposal, which was to exchange the USS Pueblo and its crew for the North Korean agents who had been captured in the South. (The Korea Herald)

    North Korea and the US remain at loggerheads over who is to blame for the incident. The North to this day claims the USS Pueblo deliberately entered its territorial waters for espionage. But the US still says the vessel had been in international waters and any evidence or confessions of spy missions by the sailors had been fabricated.

    The US eventually agreed to sign an apology and admission of intruding in the North’s territorial waters and conducting espionage activities, along with reassurance that it would not happen again. But the aforementioned resolution by the US Congress and Washington’s official position of denying any wrongdoings by the Pueblo shows that this was only done to acquire the freedom of the crew.

    A declassified document by the US National Security Agency showed the US military had mulled various military actions, including an airstrike and raid across the Demilitarized Zone. But then-US President Lyndon B. Johnson ultimately rejected direct military engagement, and opted for the show of force with the American fleet moving to South Korea.

    Another memo by the NSA, released in 2004, showed that the US had feared bringing China and the Soviet Union more directly into the situation, risking escalation of the crisis and hostility on the Korean Peninsula at the height of the Cold War. The US was still knee-deep in the Vietnam War at the time, and not even a decade had passed since the Cuban missile crisis of 1962.

    The Pueblo crew remained in North Korea for 11 months until they were released on Dec. 23, 1968, and the testimonies indicate that the 336 days had been cruel on the prisoners. Stu Russell, one of the captured sailors, said in a recent CNN interview that he “could just feel” the total and complete hatred toward the Americans from the North Koreans.

    Tom Massi, another crew member, told the Washington Post they were “beaten every day, humiliated, starved, just about anything you could think of” during the 11 months of imprisonment.

    In 2021, a federal district court in Washington awarded $2.3 billion in damages to the Pueblo’s crew and family members in a suit against North Korea.

    Aftermath

    In addition to the inhumane treatment of the prisoners, a US National Security Agency report released in 2012, “The Capture of the USS Pueblo and Its Effect on SIGINT Operations,” shows that the ship’s loss resulted in a compromise of classified materials aboard the ship, along with a “rare view of the complex technology behind US cryptographic systems.”

    After the Pueblo incident, the US conducted a cryptographic damage assessment that was declassified in 2006. It concluded that despite the crew’s efforts to destroy sensitive materials, they were unable to sufficiently dispose of them due to most of the crew not being familiar with cryptographic equipment.

    \"Crew

    Crew of the USS Pueblo are released by North Korea after 11 months of captivity in this Dec. 23, 1968 file photo. (National Archives of Korea)

    The cryptographic technicians onboard were subject to intense interrogation by the North, although the damage report concluded that the North Koreans would have eventually understood everything without their information.

    In addition, the incident handed a material for propaganda for the belligerent North Koreans, who seem determined to ensure that no one would forget the moment of its scarce victory against the Americans. Last month, Rodong Sinmun published by the North’s Workers’ Party of Korea celebrated the 55th anniversary of the USS Pueblo’s abduction, bumptiously stating that North Korea will “obliterate the territory of its enemies upon invaders.”

    As the 1950-53 Korean War never officially concluded with a peace treaty, the US and North Korea remain at odds.

    On Monday, the US called on the UN Security Council to act against North Korea’s recent missile provocations. The attempt yielded no result due to the opposition of two veto-wielding members, China and Russia.

    Between the North’s nuclear programs, ballistic missiles, exchange of tough words and intermittent efforts on the part of Seoul and Washington to bring the communist state to the negotiation table to relieve tensions on the peninsula, relations between the US and North Korea have had their ups and downs.

    But rarely has it gone as far south as that fateful night on Jan. 23, 1968, and the rusting prisoner docked in the North Korean capital is a testament to the tumultuous and complicated relationship between Washington and Pyongyang.

    By Yoon Min-sik (minsikyoon@heraldcorp.com)





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  • SM announces IP monetization strategy

    SM Entertainment on Tuesday announced its intellectual property monetization strategy, a business it sees as a core growth area and the first part of the company’s ambitious SM 3.0 business project to be unveiled.

    Under the plan, the K-pop powerhouse targets at reaching 1.2 trillion won ($926 million) in revenue with an operating margin of 35 percent by 2025. This would be a 134 percent growth in sales compared to the 512.1 billion won in preliminary sales last year.

    SM plans to achieve such goal by branching beyond its primary IP business — the main revenue driver in entertainment — such as albums, digital music, concerts and artist management, to the secondary IP business, which refers to merchandise, IP licensing, fan platforms and video content business.

    SM Entertainment Chief Financial Officer Jang Cheol-hyuk said the primary IP business was the \”driving force\” behind the 30 percent growth rate per annum during the past three years.

    “Based on SM\’s such unique identity and competitiveness, we want to take another leap forward in the age of SM 3.0,” Jang said in a video on SM\’s official Youtube channel.

    The SM 3.0 project involves establishing five different production centers and independent music labels to diversify production.

    SM will first terminate business contracts with Like Planning, a production company wholly owned by SM founder Lee Soo-man, and internalize merchandise production and distribution, and the concert planning business that used to be handled by contract companies such as Dream Maker, to increase operating profit by 6 percent.

    In regard to the primary IP business, SM has aimed at hitting an average annual sales growth rate of 26 percent by 2025. The plans include launching artist IPs at least twice a year, releasing at least 40 physical albums to sell 27 million copies a year, and holding at least 400 concerts annually.

    “The merchandise and IP sales from the secondary IP business, which stands at 120 billion won, will be increased to 170 billion won by 2023, and 300 billion won by 2025. Secondary IP, which has much higher profitability compared to primary IP will become the core growth platform for SM 3.0,\” Jang said.

    To achieve that, SM plans to create a character IP for each of its artists, create webtoons, web novels and videos, expand IP licensing through agreements with global licensing partners, and expand IP distribution by establishing dedicated organizations in key regions such as the US, Europe and Japan.

    SM will also establish an integrated fan platform directly managed and operated by SM, and monetize video content to achieve 150 billion won in sales by 2025.

    “The new IP monetization strategy for SM 3.0, including the resolution of the issues in SM 2.0 described today, is a powerful growth engine for SM,\” Jang said, adding that it hopes to become an \”unrivaled leader in the K-pop industry in all aspects.\”

    \”The entire management and employees of SM, including myself, will do our best to keep the promise of meeting target results with our shareholders,” he said.

    The first outline of SM\’s ambitious road map follows a management right feud between two parties, SM and Kakao on one side and SM founder Lee Soo-man, now the largest SM shareholder Hybe, on the other.

    Earlier this month, Hybe signed a deal with Lee to buy his 14.8 percent stake in SM for 422.8 billion won, making Hybe the largest shareholder.

    Hybe is also attempting to buy off minority shareholders’ shares via a tender offer to acquire 40 percent of SM’s total shares for which it will be injecting more than 1 trillion won.

    SM has since sought to lobby shareholders to make their decision after looking into the overall strategy of SM 3.0, which the company will continue to share before Hybe’s tender offer application deadline on March 1.

    By Hong Yoo (yoohong@heraldcorp.com)





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  • S.Korea, UAE defense chiefs agree to expand joint weapons development

    \"South

    South Korean Defense Minister Lee Jong-sup (L) speaks to his UAE counterpart, Mohammed Al Bowardi, during a visit to the latter`s ministry in Abu Dhabi, the United Arab Emirates, on Feb. 21, 2023. (South Korea`s Ministry of National Defense)
    The defense chiefs of South Korea and the United Arab Emirates on Tuesday agreed to expand joint development and production of weapons, the South Korean Defense Ministry said on Wednesday.

    South Korean Defense Minister Lee Jong-sup and his Emirati counterpart Mohammed Ahmed Al Bowardi discussed defense and arms industry cooperation among other pending issues at in-person talks in Abu Dhabi, according to a statement by South Korea’s Defense Ministry.

    The bilateral defense ministerial meeting comes a month after President Yoon Suk Yeol’s state visit to the UAE for a summit with Emirati leader Sheikh Mohammed bin Zayed Al Nahyan in January.

    The two defense chiefs discussed concrete ways to implement the agreements made in January between Yoon and the Emirati leader.

    They agreed to explore ways to expand bilateral cooperation in jointly developing and producing weapons based on the memorandums of understanding on strategic defense industry cooperation and on the joint development of multirole cargo aircraft signed in January.

    Both sides agreed on cooperation in the fields of joint investment, research and technological development, according to Seoul’s Defense Ministry.

    In particular, they committed to identifying requirements for new weapons systems that can be jointly developed and produced as potential areas for joint research, the ministry added.

    Lee and Al Bowardi also agreed to strengthen military cooperation in the fields of cybersecurity, space and realistic training exercises conducted with cutting-edge simulation combat systems. However, it did not provide further details.

    In the past, South Korea and the UAE have promoted exchanges and cooperation in defense, including staging combined military exercises.

    The UAE is notably the only foreign country where South Korea has dispatched an overseas unit for the purpose of military cooperation.

    The Akh unit, which Lee visited on Sunday, has been carrying out various missions including providing education and training for the Emirati special forces and conducting combined exercises with the Emirati special forces in Abu Dhabi since its establishment in 2011.

    During the meeting, Al Bowardi reportedly said the Akh unit, which is a symbol of defense cooperation between the two countries, has been instrumental in strengthening the combat capabilities of the Emirati armed forces. Akh means “brother” in Arabic.

    After the meeting, Lee also visited Emirati troops operating South Korean-made M-SAM II surface-to-air missiles, also called “Cheongung II,” in Abu Dhabi on Tuesday.

    In January last year, South Korea exported the M-SAM II — which can defend military and industrial facilities against enemy air attacks — to the UAE. The UAE also clandestinely purchased Chunmoo multiple rocket launchers from South Korea.

    Lee attended the International Defense Exhibition & Conference, the largest and only arms and defense technology trade show in the Middle East and North Africa, along with around 30 South Korean defense contractors including LIG Nex1, Hanwha Corp. and Hyundai Rotem at the invitation of the UAE.

    Sheikh Mohammed also attended the defense exhibition, and met Hanwha Systems CEO Eoh Sung-chul on Tuesday, according to a pool report by the press corps of the South Korean Defense Ministry.

    After the meeting, Eoh said Sheikh Mohammed showed his interest in the long-range surface-to-air missile (L-SAM) interception system which South Korea has been developing with the aim of completion in 2024. The L-SAM has been designed to shoot down hostile missiles at higher altitudes than the Cheongung II and altitudes of 50 to 60 kilometers.

    By Ji Da-gyum (dagyumji@heraldcorp.com)





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  • SM raises concern over K-pop industry monopolization

    \"ایس

    SM انٹرٹینمنٹ کے چیف فنانشل آفیسر Jang Cheol-hyuk ایک ویڈیو میں بول رہے ہیں جس کا عنوان ہے \”ایس ایم کیوں HYBE کے مخالفانہ قبضے کے خلاف ہے۔\” (یو ٹیوب)

    SM Entertainment نے K-pop انڈسٹری کی اجارہ داری پر تشویش کا اظہار کیا جو Hybe کے SM کے حصول کے نتیجے میں ہو سکتا ہے۔

    SM Entertainment کے چیف فنانشل آفیسر Jang Cheol-hyuk پیر کو کمپنی کے آفیشل یوٹیوب چینل پر گئے تاکہ کمپنی Hybe کے \”مخالفانہ\” انضمام اور حصول کی مخالفت کرنے کی وجوہات بتا سکے۔ ویڈیو کا عنوان تھا \”ایس ایم کیوں HYBE کے مخالفانہ قبضے کے خلاف ہے۔\”

    \”SM اور Hybe مقامی صنعت کی قیادت کرنے والی سب سے بڑی تفریحی کمپنیاں ہیں۔ ضم ہونے پر، وہ کل مارکیٹ کے 60 فیصد سے زیادہ کے ذمہ دار ہوں گے، اس طرح مارکیٹ پر اجارہ داری قائم ہو جائے گی،\” جنگ نے کلپ میں کہا۔ \”M&A K-pop انڈسٹری میں تنوع کو نقصان پہنچائے گا کیونکہ وہ مل کر مارکیٹ کی 70 فیصد میوزک ریونیو اور 89 فیصد پرفارمنس ریونیو کے لیے ذمہ دار ہوں گے۔ اس اجارہ داری سے سب سے زیادہ نقصان وہ لوگ ہوں گے جو مداح ہوں گے۔\”

    10 فروری کو، Hybe نے SM کے بانی اور سابق پروڈیوسر Lee Soo-man کے ساتھ SM میں اپنا 14.8 فیصد حصہ 422.8 بلین وان ($334.28 ملین) میں خریدنے کے لیے ایک معاہدے پر دستخط کیے، جس سے Hybe سب سے بڑا شیئر ہولڈر بن گیا۔

    CFO نے دعویٰ کیا کہ M&A ان تمام کوششوں کو نظر انداز کرتا ہے جو تقریباً 600 SM ملازمین نے SM کو نمبر 1 تفریحی کمپنی بنانے کے لیے کی ہیں۔ انہوں نے کہا کہ یہ ایس ایم کی قدر اور فخر کو بھی نظر انداز کرتا ہے جو اس کے مداحوں اور فنکاروں کے ساتھ مل کر قائم کیا گیا ہے۔

    \”Hybe SM کے بورڈ آف ایگزیکٹوز کو سنبھال کر انتظامی حقوق کو استعمال کرنے کی کوشش کر رہا ہے۔ اس طرح کی حکمرانی تمام شیئر ہولڈرز کی اقدار کو ترجیح دینا مشکل بنا دے گی۔ یہ ایس ایم کے آزاد کاروباری آپریشن کو محفوظ بنانے کے Hybe کے وعدے کو برقرار رکھنا مشکل بنا دے گا،\” جنگ نے کہا۔

    Hybe SM کے کل حصص کا 40 فیصد حاصل کرنے کے لیے ٹینڈر کی پیشکش کے ذریعے اقلیتی حصص یافتگان کے حصص خریدنے کی بھی کوشش کر رہا ہے جس کے لیے وہ 1 ٹریلین وون ($770.83 ملین) سے زیادہ انجیکشن لگائے گا۔

    اگرچہ SM کے حصص کا حصول ایک اہم فیصلہ ہے جس کے لیے 1 ٹریلین وون سے زیادہ کی ضرورت ہے، لیکن مناسب مستعدی کے لیے SM سے ڈیٹا کی کوئی درخواست نہیں کی گئی ہے، جس کا مطلب یہ ہے کہ Hybe پر ایک ہی بڑے اسٹیک ہولڈر کے زیر انتظام ہے، جنگ نے Hybe کے بانی کی طرف اشارہ کرتے ہوئے کہا۔ چیئرمین بنگ سی ہائوک۔

    ویڈیو میں اٹھائی گئی ایک اور تشویش یہ ہے کہ Hybe اپنے فنکاروں کو ترجیح دینے کے لیے SM فنکاروں کے البم ریلیز کو پیچھے دھکیل دے گا، کیونکہ کورین ریکارڈ انڈسٹری تمام انواع میں نئے ریکارڈز کی ریلیز کو ہر سال 100 تک محدود کرتی ہے۔

    اس نے یہ بھی نشاندہی کی کہ اگر SM اپنے بجائے Hybe کے فین پلیٹ فارم Weverse کو استعمال کرنا شروع کر دیتا ہے، تو SM اپنے فنکاروں کے مداحوں کو سمجھنے کے لیے ایک اہم ڈیٹا سورس سے محروم ہو جائے گا۔

    اس کے علاوہ، ایک اہم ممکنہ مسئلہ SM 3.0 حکمت عملی تیار کرنے کے لیے نئے کاروباری مواقع کھو رہا ہے، جس میں پیداوار کو متنوع بنانے کے لیے پانچ مختلف پروڈکشن سینٹرز اور آزاد میوزک لیبلز کا قیام شامل ہے۔ یہ مواقع Hybe کی ملکیت والی ذیلی کمپنیوں کو الاٹ کیے جانے کا امکان ہے۔

    \”ہم امید کرتے ہیں کہ اپنی میراث اور شناخت کو برقرار رکھتے ہوئے SM 3.0 کے ذریعے ایک نئی گروتھ فورس حاصل کرکے اپنی عالمی کاروباری صلاحیت اور اپنی (انٹلیکچوئل پراپرٹی) منیٹائزیشن کو فروغ دیں گے،\” جنگ نے زور دیا۔

    SM نے شیئر ہولڈرز پر زور دیا کہ وہ SM 3.0 کی مجموعی حکمت عملی کو دیکھنے کے بعد اپنا فیصلہ کریں، جسے کمپنی Hybe کی ٹینڈر پیشکش کی درخواست کی آخری تاریخ 1 مارچ سے پہلے شیئر کرتی رہے گی۔

    ایس ایم انٹرٹینمنٹ ایمپلائز کونسل، جو کہ 208 ایس ایم ملازمین پر مشتمل ہے، نے بھی پیر کو ایک بیان جاری کیا جس میں دعویٰ کیا گیا کہ انہیں لی سو مین کی غیر قانونی سرگرمیوں، جیسے غیر قانونی منافع خوری اور ٹیکس چوری کے لیے استعمال کیا گیا ہے۔

    \”ہم SM کی منفرد شناخت اور K-pop کے تنوع کی حفاظت کریں گے۔ SM کی ثقافت کو Hybe کے اثاثوں کے ماتحت نہیں کیا جا سکتا۔ ہم شریک CEOs Lee Sung-su اور Tak Young-jun، اور SM 3.0 کی کثیر پیداواری حکمت عملی کی حمایت اور حمایت کرتے ہیں۔ مزید، ہم اپنے مداحوں اور فنکاروں کو کسی بھی قسم کے نقصان سے زیادہ مضبوط تحفظ کا مطالبہ کرتے ہیں،\” بیان میں کہا گیا۔ \”ہم اس طرح Hybe کے مخالف M&A اور SM کے بورڈ آف ڈائریکٹرز میں داخلے کی کوششوں کی مخالفت کرتے ہیں۔ ہم Hybe کی طرف سے ایس ایم پر قبضہ کرنے کی اس غیر معمولی کارروائی کے خلاف لڑیں گے۔

    بذریعہ ہانگ یو (yoohong@heraldcorp.com)





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  • BTS agency HYBE buys stake in its K-pop rival | CNN Business


    سیئول/ہانگ کانگ
    سی این این
    –

    HYBE، انتظامی ایجنسی سپر اسٹار بوائے بینڈ بی ٹی ایس کے پیچھے، اپنے K-pop حریف، SM Entertainment کا سب سے بڑا شیئر ہولڈر بن جائے گا۔

    یہ اقدام جنوبی کوریا کی موسیقی کی صنعت میں HYBE کے تسلط کو مضبوط کرتا ہے، جہاں یہ پہلے سے ہی سب سے بڑا کھلاڑی ہے، یہاں تک کہ یہ بیرون ملک توسیع کرنا چاہتا ہے۔

    جنوبی کوریا کے تفریحی اداروں نے جمعہ کو اس معاہدے کا اعلان کیا، جس میں HYBE نے SM Entertainment میں 422.8 بلین کورین وون ($334.5 ملین) میں 14.8 فیصد حصص لینے کا فیصلہ کیا ہے۔

    SM کی بنیاد لیجنڈری میوزک پروڈیوسر لی سو مین نے رکھی تھی، جسے جنوبی کوریا میں بڑے پیمانے پر \”K-pop کا گاڈ فادر\” کہا جاتا ہے۔ کمپنی NCT 127، EXO، BoA اور گرلز جنریشن جیسے ہٹ فنکاروں کی نمائندگی کرنے کے لیے مشہور ہے۔

    \"سیول

    یہ خبر کہ دونوں کمپنیاں افواج میں شامل ہو رہی ہیں سرمایہ کاروں کو برطرف کر دیا گیا۔ ایس ایم انٹرٹینمنٹ کے حصص میں 16 فیصد اضافہ جمعہ کو سیول میں۔ HYBE کے سٹاک میں ابتدائی طور پر 3% اضافہ ہوا، اس سے پہلے کہ منافع 1.5% تک بند ہو جائے۔

    BTS کے باہر، HYBE نمایاں بینڈز کی بھی نمائندگی کرتا ہے جیسے کہ نیو جینز، ٹومارو ایکس ٹوگیدر اور سیونٹین۔

    لیکن اس کا مارکی ایکٹ فی الحال ہے۔ وقفے پر. بی ٹی ایس کے اراکین نے گزشتہ سال کے آخر میں جنوبی کوریا میں انفرادی لازمی فوجی سروس شروع کی تھی، اور مجموعی طور پر گروپ کے 2025 کے آس پاس دوبارہ ملنے کی امید ہے۔

    اب، HYBE اپنی توجہ کسی اور طرف موڑ رہا ہے۔

    \”یہ حصول HYBE کی طرف سے عالمی موسیقی کی صنعت میں گیم چینجر بننے کے لیے دونوں کمپنیوں کی عالمی مہارت کو یکجا کرنے کے لیے ایک اہم قدم کی نمائندگی کرتا ہے،\” کمپنی ایک بیان میں کہا.

    HYBE اپنی عالمی رسائی کو بڑھانے کے لیے اقدامات کر رہا ہے۔ جمعرات کو، یہ اعلان کیا ریاستہائے متحدہ میں ایک اور بڑی ڈیل، یہ کہتے ہوئے کہ وہ کوالٹی کنٹرول کے مالک کو حاصل کرے گا، ایک ہپ ہاپ لیبل جو مشہور فنکاروں کی نمائندگی کرتا ہے بشمول Migos اور Lil Yachty۔

    KB سیکیورٹیز کے انٹرنیٹ اور تفریحی تجزیہ کار سنہوا لی کے مطابق، اس معاہدے سے HYBE کو امریکی میوزک مارکیٹ میں مضبوط موجودگی بنانے میں مدد ملے گی۔ جمعرات کو ایک رپورٹ میں، اس نے نوٹ کیا کہ کمپنی کے وسیع تر عزائم \”K-pop کی حدود سے باہر جانا اور مختلف انواع میں نئے عالمی فنکاروں کو تیار کرنا ہے۔\”

    HYBE کے چیئرمین Bang Si-Hyuk نے ایک بیان میں کہا، \”یہ شراکت داری ایک متنوع پورٹ فولیو کے ذریعے تفریحی صنعت کو اختراع کرنے کے لیے ہمارے ترقیاتی منصوبے کا ایک اہم حصہ ہے۔\” \”ہم عالمی موسیقی کی صنعت میں ہپ ہاپ کی گہرائی کو شامل کرنے کے لیے مل کر کام کریں گے۔\”

    سیول میں مقیم میوزک انڈسٹری کے ایگزیکٹو برنی چو نے کہا کہ اعلان کردہ دو سودے اس کے برعکس تھے جو انہوں نے دیکھا تھا۔

    یہ \”سب سے بڑا ایک دو پاور پنچ ہوسکتا ہے جو میں نے کبھی دیکھا یا سنا ہے۔ [of] K-pop انڈسٹری کی تاریخ میں، \”DFSB Collective کے صدر، Cho نے کہا، ایک میوزک آرٹسٹ اور لیبل سروسز ایجنسی۔

    انہوں نے کہا کہ سودوں میں HYBE کو \”بڑے تین\” بڑے ریکارڈ لیبلز کی طرح ایک ہی لیگ میں ڈالنے کی صلاحیت ہے: سونی

    (SNE)    ، یونیورسل اور وارنر میوزک۔

    \”HYBE، BTS کے بعد کے اپنے مرحلے میں، واقعی ہوشیار، واقعی سمجھدار بہت بڑے سودوں کے ذریعے شائقین اور مالیاتی تجزیہ کاروں کو حیران اور حیران کر دیا ہے،\” انہوں نے مزید کہا۔

    2019 میں، بی ٹی ایس کے لئے حساب اس کے بعد، اس کی انتظامی کمپنی کی آمدنی کا 90% بگ ہٹ انٹرٹینمنٹ کے نام سے جانا جاتا ہے۔. اس نے تجزیہ کاروں کو تشویش میں مبتلا کر دیا کہ فرم، جس کا نام بعد میں HYBE رکھ دیا گیا، بینڈ پر بہت زیادہ انحصار کر رہی تھی۔

    تاہم، اس کے بعد سے، HYBE نے اپنے روسٹر کو بڑھا دیا ہے۔

    حالیہ برسوں میں، اس کی سلیٹ میں جسٹن بیبر، آریانا گرانڈے اور ڈیمی لوواٹو سمیت دیگر عالمی مشہور شخصیات کو شامل کیا گیا ہے۔ نمائندگی کر رہے ہیں HYBE کے امریکی ذیلی ادارے کے تحت ایک ٹیم کے ذریعے۔

    جنوبی کوریا کی فرم نے بھی ایک ٹائی اپ ہے کے ساتھ بگ مشین لیبل گروپ، ایک ایسا الحاق جو ملکی موسیقی کے کچھ سرکردہ فنکاروں کی نگرانی کرتا ہے، جیسے شیرل کرو، رسکل فلیٹ اور ٹم میک گرا۔

    \”HYBE اب K-pop جگگرناٹ نہیں ہے۔ K اب خاموش ہو گیا ہے،\” چو نے کہا۔ \”وہ پاپ میوزک کا جادوگر بن گئے ہیں۔\”



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