By Honorary Reporter Karolina Wojciechowska from Poland

Photo= Korea.net DB

The COVID-19 pandemic has created a challenging time for the K-pop industry. K-pop is known for its visually lavish and high-quality performances, and these aspects account for the majority of its earnings.

Profit from music downloads accounts for just 0.2% of their income. Without concerts, all music companies face hard times, even the biggest ones, considering that most of K-pop's income is from Asia (around 70%), not from Korea.

A rising tendency is for K-pop acts to focus on online activities, which seems logical. Because they cannot hold any outdoor events, such acts have grown more active on social media, doing more livestreaming and Q&As to communicate with fans.

Another growing trend is the holding of online events. For example, Winner's online concert on Vlive was a big success in attracting 960,000 viewers, and groups like Alphabat or Dustin have done the same. And Exo's Suho held a video call event instead of a traditional fan signing to promote his songs.

One entertainment agency, PK Entertainment, says its situation remains stable. "We have a very smart and generous CEO. He is the kind of a person who is prepared for almost everything," a company source said.

PK also runs other businesses that earn revenue for the company, and is working on music releases. "We're going to release two music videos and six songs this year. Keep moving forward," the source said.

But what about PK's artists? Members of the group Musky say they still practice every day but more as individual training. Though the group is small, members still take preventive measures and watch out for their safety. The company is looking after the group's financial as well as physical health during this inactive period.

"Our CEO offered very nice part-time jobs to (members) Han and Geumjoo two years ago, when they started as Musky. It's like insurance for artists to be on the safe side. We all know how difficult it is to succeed in the music industry," PK said.

The group was also hired to teach classes at Sejong University in Seoul, earning side income  also thanks to their CEO. Hopefully other entertainment agencies are taking similar measures to keep their artists safe.

PK's CEO shared one last tip. "All we have to do is to keep up without stress and with confidence until the coronavirus ends. Be strong. Love and take care of each other with sincerity. Don't chase money, chase your dreams and enjoy your life. Then we'll all be fine."

chaey0726@korea.kr

*This article is written by a Korea.net Honorary Reporter. Our group of Honorary Reporters are from all around the world, and they share with Korea.net their love and passion for all things Korean.