‘Cast’ is a rising business model that takes advantage of synergies between K-pop stars and local Korean companies.

From BTS meals at McDonald’s to members of BLACKPINK representing multiple luxury fashion houses, global brands are embracing the popularity and social media savvy of K-pop stars more than ever before. But artists are also using their influence to help develop and boost budding companies from their native South Korea with new business models that have significant government backing.

South Korean television and radio broadcaster Munhwa Broadcasting Company (better known as MBC)’s secret affairs department recently announced a new business model titled “Connect, Accompany to make Synergy and Transformation”, or “CAST” for short. We shared the findings and future plans developed. After three years of research and testing, MBC worked with small and medium enterprises (also known as SMEs) in South Korea to sell hundreds of them despite the rising profiles of K-pop artists and celebrities. We are happy to share with millions of excited fans. Meaningful and collaborative partnerships.

In the CAST system, Hallyu stars and SMEs are matched one-on-one, and celebrities participate not only as models but also as creative directors involved in product planning, development and testing stages. The Korea Foundation for International Cultural Exchange (KOFICE), which is sponsored by the Korean government, devised a matching system after realizing that it was difficult for small Korean companies to hire top stars.

In a press release, MBC said, “Star’s influence for the growth and overseas expansion of SMEs is seen as a new form of donation.” “The fact that Globalstar attended the event for free attracted a lot of attention. [and] The CAST project is notable for being the world’s first donation to maintain a true partnership for over a year. “

Artists actively participating in the 2022 program include long-loved girl group Apink, chart-topping boy band SF9, solo superstar Chung Ha, rising girl group Weeekly, and beauty YouTuber. PONY, models Irene Kim, Jung Hyuk, Songhae Na. Her 8 of her SMEs selected by KOFICE were chosen to create the best synergy between the two, with 8 stars working as creative directors, and once the product is approved, the final approval and proceeded with marketing.

The first overseas test of the business model was the HallyuPopFest held in London last year, where about 60 small and medium-sized artists from South Korea joined popular artists such as Kai, Chen, Hwa Sa, SF9, ASTRO, Weeekly, and Ke1per at the same festival venue. introduced the company. These overseas trade fairs and product demonstrations are another part of the CAST system, increasing local awareness of the company and developing international demand thanks to the star recognition and endorsement of the product.

Looking ahead, Kofice President Jung Kil-hwa shared that after three years of testing, the CAST model can effectively build a “strong competitive edge” among budding companies in 2023.

The CAST system not only shows how Korean companies can dominate the global market, but also gives K-pop stars a keen sense of what it takes to grow their country’s economy in a healthy and meaningful way. indicates that there is