Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    FTC fines GoodRx for sharing consumer health data with advertisers

    February 2, 2023

    What we know about Milwaukee’s 2024 Republican convention

    February 2, 2023

    More and more business owners are turning to artificial intelligence to stay competitive

    February 2, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    Zepp News
    • Business
    • Entertainment
    • Health
    • Politics
    • Sports
    • Technology
    Zepp News
    Business

    ‘CAST’ is an emerging business model that leverages the synergy between K-Pop stars and Korean local businesses

    shivachetanbijjal@gmail.comBy shivachetanbijjal@gmail.comFebruary 1, 2023No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Qinghe and Liesel

    Donut Studio

    From BTS meals at McDonald’s to BLACKPINK members representing multiple luxury fashion houses, global brands are more welcoming than ever to the popularity and social media savvy of K-pop stars. But the artists have also used their influence to help grow and promote start-ups from their native South Korea, in an emerging business model that has received significant government support.

    The special affairs division of South Korean TV and radio broadcaster Munhwa Broadcasting Company (better known as MBC) recently shared its plans for a new business model called “Connect, Accompany to make Synergy and Transformation” (“CAST”). Findings and future plans. After three years of research and testing, MBC says that even as K-pop artists and celebrities rise in popularity, they are open to partnering with South Korean small and medium-sized enterprises (also known as SMEs) and sharing their data. Meaningful partnerships with millions of exciting fans.

    In the CAST system, Hallyu stars and SMEs are paired one-on-one, and celebrities participate not only as models, but also as creative directors in product planning, development and testing stages. The Korean government-sponsored Korea Foundation for International Cultural Exchange (KOFICE) devised the matching system after realizing that smaller Korean businesses struggled to recruit top stars.

    “Stars using their influence to help small and medium-sized enterprises grow and expand overseas are seen as a new form of donation,” MBC said in a release. “The fact that global stars participate in events for free has drawn a lot of attention. [and] The CAST project deserves attention as a donation unprecedented anywhere in the world to sustain a true partnership for over a year. “

    Artists actively participating in the 2022 iteration of the show include beloved girl group Apink, chart-topping boy group SF9, solo superstar Jung Ha, up-and-coming girl group Weeekly, beauty YouTuber PONY, and models Irene Kim, Jung Hyuk, and Song Ha Na. KOFICE selects eight small and medium-sized enterprises to create the best synergy between the two parties, eight stars serve as creative directors, and finally endorse and market after the product is approved.

    Qinghe and Liesel

    Donut Studio

    The first overseas test of the business model was held at HallyuPopFest in London last year, where around 60 Korean SMEs were showcased at the same festival venue, including popular artists such as Kai, Chen, Hwa Sa, SF9, ASTRO, Weeekly, Ke1per, etc. . These overseas exhibitions and product demonstrations are another part of the CAST system. Through the popularity of celebrities and product endorsements, we can strengthen the company’s local reputation and develop international demand.

    Looking ahead, KOFICE President Jung Kilhwa shared that after three years of testing, the CAST model can effectively build “strong competitiveness” among emerging companies in 2023.

    The CAST system showcases not only the way Korean businesses gain a foothold in the global market, but K-pop stars are keenly aware of what is needed to help their country’s economy grow in a healthy, meaningful way.

    Qinghe and Liesel

    Donut Studio

    Qinghe and Liesel

    Donut Studio

    Source link

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    shivachetanbijjal@gmail.com
    • Website

    Related Posts

    Capital One rebrands Elite Travel Spark to Venture X Business

    February 2, 2023

    Business Roundup: Interest Rates and Oil Profits

    February 2, 2023

    Shell’s integrated gas business delivers as LNG sales climb

    February 2, 2023

    Leave A Reply Cancel Reply

    Our Picks

    Noise-Cancelling Headphones For a Superb Music Experience

    January 15, 2020

    Harry Potter: 10 Things Dursleys That Make No Sense

    January 15, 2020

    Dubai-Based Yacht Company is Offering Socially-Distanced Luxury

    January 15, 2020

    The Courier – a New Song with Benedict Cumberbatch

    January 14, 2020
    About Us

    This website is all about Tech Health Fitness Business and many other topic that very helpfull for everyone.

    Thank You.

    Our Picks

    Noise-Cancelling Headphones For a Superb Music Experience

    January 15, 2020

    Harry Potter: 10 Things Dursleys That Make No Sense

    January 15, 2020

    Dubai-Based Yacht Company is Offering Socially-Distanced Luxury

    January 15, 2020

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Facebook Twitter Instagram Pinterest
    • Home
    • Buy Now
    © 2023 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.