‘MU:CON’ KIM JAE JOONG: “Choose the Market for Success First, Then Build the Group” — Global Expansion Strategy for Small and Midsize Entertainment Companies

[Financial News]  “Do you know me?”
Singer and producer KIM JAE JOONG took the stage at the ‘MU:CON 2026’ conference held at the CUBE Convention Center in Sangam-dong, Mapo District, Seoul, on the 2nd. Wearing a black T-shirt and black jeans, he posed the question to the audience. The K-pop star, who has been active for more than 20 years, introduced himself not as “singer KIM JAE JOONG,” but as the “founder of iNKODE Entertainment.” He then shared his company’s business model and insights into the music market as the producer who launched the five-member boy group KEYVITUP and the six-member multinational boy group VAY ONN.

The Ministry of Culture, Sports and Tourism (MCST) and the Korea Creative Content Agency (KOCCA) are holding the ‘2026 Global Music Fair (MU:CON 2026)’ from the 2nd to the 4th at the CUBE Convention Center in Sangam-dong, Mapo District, Seoul, and Yongsan Children’s Garden in Yongsan District. The conference, which examines key issues in the music industry and changes in global markets, will take place from September 2 to 4 at the CUBE Convention Center in Sangam-dong.
In his keynote speech on “Global Expansion Strategy for Small and Midsize K-pop Companies,” KIM JAE JOONG introduced the business strategy of small and midsize entertainment companies, saying, “Rather than taking a singer who is popular in Korea and expanding overseas, we design for the global market from the beginning.”
He stressed that small and midsize agencies must take a different approach because, unlike large companies with capital, fandoms, and global networks, they face limitations in marketing budgets, name recognition, and local networks. “The most dangerous idea is to imitate a major agency’s strategy with a smaller budget,” he said.
Accordingly, he said that before forming a group, companies “must first decide which market they want to be loved in and by whom.” Starting with market selection and analysis of fan preferences, they should design the group’s lineup, music, visuals, characters, content, platforms, local partners, and revenue model in sequence.

In KIM JAE JOONG’s words, iNKODE Entertainment is currently testing two hypotheses at the same time: one targeting the Americas and the other targeting Asia.
The five-member boy group KEYVITUP, which debuted in April, is testing whether it can create intellectual property that appeals to popular culture in the Americas while maintaining the K-pop production system. KEYVITUP consists of Hyunmin, Taehwan, Sena, Jaein, and Rukia, and performed on the ‘KCON LA 2026’ stage last month. Its debut song, ‘KEYVITUP,’ rose as high as No. 20 on the U.S. YouTube Shorts chart.
The six-member multinational boy group VAY ONN, which debuted in July, aims to develop intellectual property optimized for Asian K-pop fandom culture. The group consists of Masato, Sen, Ayang, and Jinwi, who appeared on Mnet’s ‘Boys II Planet,’ as well as Teru and Mano, who were introduced through iNKODE Entertainment’s trainee showcase project, the ‘INTHE X Project.’
KIM JAE JOONG highlighted the differences between the Americas and Asian markets. In the Americas, streaming, brand collaborations, and tours are particularly important, with an emphasis on individuality, cultural discovery, and attracting new fans. In Asia, he analyzed that fandom-based revenue from albums, merchandise, and fan meetings accounts for a larger share, supported by sustained relationships with fans and repeated points of contact.
He also stressed that Asia should not be treated as a single market. Japan is characterized by long-term fan relationships and high spending per fan, while Greater China requires strategies tailored to local platforms such as Weibo and the regulatory environment. Southeast Asia has a young population, strong social-media reach, and high affinity for K-pop, but purchasing power varies significantly by country, he explained.


Emphasizing the importance of data, he identified fast decision-making and the ability to pivot as strengths of small and midsize companies. He explained that they assess market responses through short-form video views, sharing rates, and mentions in online communities, then revise their strategies using indicators such as the number of paid showcase attendees, repurchase rates, average spending per fan, return-visit rates, and the number of local partners.
“Even if the United States is the target, you must be able to change markets if a stronger response emerges in another country,” he said. “Data is not evidence for sticking to an existing strategy; it is an indicator for revising the strategy.”
The market-entry strategy presented by KIM JAE JOONG begins with being discovered in digital spaces such as TikTok and YouTube Shorts. The next steps are to collaborate with local creators, enter K-pop and Asian-pop communities, and test demand through small-scale performances and fan events. Once a market’s potential has been confirmed, the business is expanded through festivals, brands, media, and tours.
During this process, he stressed the need to examine “cities and conditions” in detail rather than focusing only on countries. “The goal is not to succeed in the United States, but to find the first city in the United States where we can win,” he explained. He added, “A market with high name recognition is not necessarily the same as a market with strong business potential.”
In South America, profitability may be lower even when the number of fans is greater than in North America, once air and logistics costs, merchandise shipping expenses, purchasing power, exchange rates, performance infrastructure, and ticket prices are taken into account. He also explained that even if a particular city has 5,000 fans, the company may choose another city with only 1,500 fans if those fans have greater purchasing power and face less competition from other performances.
KIM JAE JOONG divided the overseas expansion process into three stages and presented an investment strategy for each. The first three months are a period of “discovery and testing,” during which market responses are assessed through digital content, with small investments made in content production and collaboration with local creators.
From the fourth to the sixth month, the company holds showcases for 300 to 1,000 people in two or three cities where positive responses have been confirmed, testing paid attendance and business potential.
From the seventh to the 12th month, he said, capital should be concentrated in validated cities and platforms, while local partnerships are expanded. He emphasized, “At the third stage, you have to stake everything.”
KIM JAE JOONG said, “The market is too large for a small or midsize company to take on the entire world.” He continued, “We must find a market where we can win, understand its fans, and create a reason for them to choose us.” He concluded the speech by saying, “iNKODE Entertainment is not a company that sends artists who have succeeded in Korea overseas. It is a company that creates artists needed by someone in the world from the very beginning.” He added, “We start by finding the part of the world where we can win.”

[email protected] Shin Jin-a Reporter