Billboard, Billboard Korea Signs MOU With NAVER Pay

As Billboard prepares to launch the bodily version of Billboard Korea, a brand new alliance with NAVER Pay that ought to unlock alternatives for its readers and the broader Ok-pop house.

NAVER Pay, the South Korea-based cellular fee service, has inked a memorandum of understanding (MOU) with Billboard and Billboard Korea, forward of the primary print challenge midyear.

As beforehand reported, Billboard Korea Quantity 1 is scheduled for launch in June, which can amplify 100 Ok-pop stars chosen by Billboard.

The aim of the MOU is to advertise varied collaborative endeavors that may mix easy fee companies with the leisure companies that Billboard Korea will present, reads a press release, with NAVER Pay offering “a protected and simple” facility for music, broadcasts, and performances.

By means of the alliance, the manufacturers will contribute to creating “a good and clear efficiency reserving tradition,” and in the long run, a unified method in spreading Ok-pop content material by way of Billboard’s world platform.

“We’re happy to have the ability to work with Billboard Korea as they enter the Korean market,” feedback NAVER Pay CEO Park Sang-jin, including, “sooner or later, we are going to actively try to search out methods to create synergy between Billboard and Billboard Korea’s varied leisure companies and NAVER Pay.”

Mike Van, president of Billboard, and Yuna Kim, CEO & writer of Billboard Korea, comment, “By means of our partnership with NAVER Pay, we will present quite a lot of progressive companies distinctive to Billboard within the Korean music market.”

As Billboard Korea rolls off the presses, the Ok-pop style reaches new heights. South Korean acts accounted for 5 of the highest 10 albums within the IFPI World Album Chart for 2023, together with prime spot for SEVENTEEN’s FML, representing the all time world charts efficiency for the style. Certainly, an unprecedented 19 of the highest 20 titles on the tally have been Ok-pop.

And individually, on the recently-published IFPI World Recording Artist Chart, which ranks the preferred artists on the planet, based mostly on gross sales and streams, 4 Ok-pop acts appeared within the prime 10 – representing a document yr for Korean music on a worldwide scale.

Billboard Korea provides to the checklist of the publication’s worldwide editions, together with Billboard Japan, Billboard Arabia, Billboard Español, Billboard Brasil and others.