Abstract
The Korean Wave (K-wave), or Hallyu, referred as “the phenomenon of Korean pop culture, such as TV dramas, films, pop music, fashion, and online games being widely embraced and shared among the people of Japan, China, Hong Kong, Taiwan, and other Asian countries”. After the drama-oriented craze of the first K-wave, Korean pop music (shortly K-pop) took the integral part of the second K-wave. In addition, with the rapid spread of social media like YouTube and Twitter, K-pop has expanded its fandom outside of Asia to the West. The world-wide success of K-pop contributes to improve the `Korea' image and make a positive impact on Korean economy. It is reported that around 1,000 entertainment agencies are active in Korea, while there exist the “big three” record labels and entertainment agencies: SM Entertainment, YG Entertainment and JYP Entertainment. In this case, we address the world-wide phenomenon of K-pop popularity and the role of social media on recent boom of K-pop. Focusing the major agencies above, we present lessons on how to manage social media strategically: align strategic business model with social media; maximize various social media channels; engage customers with on-and offline promotions; and stimulate audience with exclusive contents.
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