JYP Entertainment has officially launched their North American corporation JYP USA to bolster their presence in North America for their artists.
In a press release shared with media outlet Herald Pop, JYP Entertainment shared their plans to use JYP USA as their global hub to develop their artists’ presence in North America.
We have established JYP USA to establish a base for our artists and business ventures in North America and other global markets where K-Pop is expanding and to also try out a new strategic evolution.
— JYP Entertainment
This announcement comes on the heels of JYP Entertainment’s February 11 announcement of the company’s expanded strategic collaboration with Republic Records adding Stray Kids and ITZY to their management while TWICE remains under Universal Music Group. Through the establishment of JYP USA, Stray Kids, ITZY, and TWICE are all expected to achieve even more success in the future. Republic Records Chairman Mante Lipman also commented on the establishment of JYP USA.
The establishment of JYP USA is a result of the natural progression of J.Y. Park’s vision and JYP’s outstanding management capabilities. Through this, K-Pop is expected to expand around the world and TWICE, Stray Kids, and ITZY will have even greater achievements in the United States.
We are very happy and excited to see JYP’s evolution and aggresive development in the North American market, and that can be expanded by joining together our two companies and forming an even stronger partnership.
— Mante Lipman
JYP USA is also planning to strengthen its company foundation to include Xdinary Heroes and NMIXX as they advance into North America in the future. The company will develop new North American-based business models and expand their strategic outreach. They also aim to create a new growth engine by establishing a 360 degree multi-value chain that encompasses the world-reach by promoting the expansion of K-Pop’s unique fandom-based business model in the United States.