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“I decided to bet on BTS…”
Koreaboo
Recently, HYBE‘s chairman, Bang Si Hyuk, confessed to going through difficulties in the early days of the company that made him almost close the company. However, he couldn’t quit on BTS.
On November 1, Bang Si Hyuk and JYP Entertainment‘s founder Park Jin Young (also known as JYP or J.Y. Park) appeared on tvN‘s popular talk show, You Quiz on the Block, hosted by comedians Yoo Jae Suk and Jo Se Ho.
During the interview, Bang Si Hyuk and Park Jin Young talked about their long history together: working as shareholders and co-managers of JYP Entertainment, writing songs together, living in the U.S. together for four months, and eventually, Bang Si Hyuk starting his own label, Big Hit Entertainment (now known as HYBE).
After starting Big Hit, things were not easy for Bang Si Hyuk. He confessed to facing financial difficulties during the early days when they were preparing for BTS because they had so much debt—to the point that he thought of shutting down his company.
However, the vice president of the company helped him realize that whether he gives up the company or lets BTS do activities for one year, he’ll be in the identical state of affairs of not with the ability to repay the debt and inspired Bang Si Hyuk to maintain making an attempt.
At that point, I believed we must always shut the corporate. We have been getting ready for BTS, and the vice chairman requested me, ‘Do you not have confidence?’ I responded that I’ve confidence within the BTS members. When he requested me why I used to be giving up, I stated it was becase we had money owed of over ₩100 billion KRW (about $74.2 million USD). The vice chairman stated, ‘You already can’t repay this cash along with your present skill. And even if you happen to run this group for a yr, you’ll nonetheless be in the identical place of not with the ability to pay it off.’
— Bang Si Hyuk
After a lot considering, Bang Si Hyuk determined not to surrender on BTS.
I considered it, and I believed that persevering with was the precise factor to do. The seven members every had their very own expertise and ability, and I felt a way of obligation to not depart these proficient youngsters alone.
— Bang Si Hyuk
He then needed to make clear that BTS has at all times been profitable since their debut in 2013.
People assume BTS didn’t do effectively initially, bu they have been truly profitable from the start. I do know it seems like a superb story to say that they weren’t profitable to start with however that they returned from the U.S. having succeeded. But that’s not it in any respect. They acquired all of the rookie awards within the first yr and have been very profitable.
— Bang Si Hyuk
When requested if he ever felt the immensity of BTS’s reputation, Bang Si Hyuk shared that he felt BTS was particular when the LA Times wrote a function about them performing on the 2014 Okay-CON live performance of their rookie days, the place they carried out as one of many opening acts.
Although Bang Si Hyuk felt that getting featured within the LA Times was particular, his firm staff informed him he was “making a fuss” and that “this was normal in K-Pop.”
Bang Si Hyuk ultimately believed he ought to step down in managing and let the workers care for the enterprise. This was additionally when “Fire” got here out and gained immense reputation.
At that point, after I made a decision to wager on BTS after I was getting ready to failure, I spotted that the corporate was in hassle as a result of I used to be managing it. Then, I fully handed over the administration rights. But 2015 was a turning level for BTS. That’s when their album The Most Beautiful Moment in Life, Part 1 grew to become an enormous hit. And I knew since then that they have been totally different and that there had been no response like this in Okay-Pop.
— Bang Si Hyuk
After The Most Beautiful Moment in Life, Part 1‘s success, he knew he had to bring BTS to the U.S. to see if global fans would react to their music the same way. However, the company employees were against him, saying, “You’re interfering with administration once more.”
However, Bang Si Hyuk didn’t quit. And that’s when BTS’s hit track “Fire” got here out.
We had an enormous argument however I stated I couldn’t yield this time. Then, we launched “Fire,” and it exploded globally… After that, I believe future took over. It’s smug to say I created the present BTS.
— Bang Si Hyuk
He added that he educated BTS for a yr and a half to organize them for international actions, which is for much longer than typical within the Okay-Pop trade.
Looking on the success and love BTS is receiving worldwide, it looks as if Bang Si Hyuk made the precise alternative again then. He endured monetary difficulties and overcame moments of wanting to surrender due to his religion and belief in BTS and their willpower and expertise.
BTS
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Content Source: www.koreaboo.com