Jakarta, 21th February 2019 – SM Entertainment Group, one of Korea’s largest entertainment group, together with PT Trans Media Corpora, Indonesia’s Leading integrated media company signed a Heads of Agreement (HoA) which marks the start of their strategic partnership in four key areas: talent management, content production, digital and lifestyle. SOUTH KOREA’S SUCCESS IN THE CREATIVE ECONOMY IS A REFERENCE FOR INDONESIA’S ECONOMIC GROWTH This partnership leverages the global success of the K-Pop culture, or commonly reffered to as Hallyu which have gained rising popularity across the globe with South East Asia as one of their main growth markets. The Chairman and founder of CT Corp, Chairul Tanjung said, “Of course we hope that the joint venture between SM Entertainment and Transmedia can provide good benefits for both countries”. K-Pop has generated USD 8.2 billion to the total exports of South Korea as well as influenced 60% of international inbound tourism. Also K-Pop have a deeply loyal fan base, they have created a strong demand into digital content, merchandising, F&B and other ancillary businesses that is beyond media and entertainment. South Korea’s success in the creative economy is a reference for Indonesia’s economic growth. As said by Chairul Tanjung, “We are currently promoting creative [...]
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