JYP Entertainment Ventures into the Latin American Market, Announces ‘L2K’ Launch
JYP Entertainment (hereafter JYP) is set to make a significant entry into the Latin American music market.
On the 18th, JYP announced, “We have established a local entity, ‘JYP Latin America,’ and are moving into the Latin American music market.” The subsidiary will be launched in the third quarter of 2024, expanding the touring regions of their artists and introducing new business ventures while creating communication channels with local fans.
Additionally, JYP unveiled their vision by announcing the launch of their first main project, an audition program called ‘L2K’ (LatinAmerica2Korea). They aim to introduce a Latin girl group based on the K-pop system. To achieve this, JYP is pursuing a strategic partnership with Universal Music Latino, a Latin label under Universal Music Group. This collaboration is expected to merge K-pop energy with the passionate creativity of Latin music, generating global interest among music fans.
In this context, Billboard USA reported, “JYP Entertainment will launch a Latin American subsidiary focused on the Latin music market and the development of Latin artists,” and added, “‘L2K’ will create a unique global Latin girl group that maintains the authentic essence of Latin music while going through the JYP training system, under the strategic partnership with Universal Music Latino.”
Since establishing JYP USA in 2022, JYP has expanded the overseas tour regions of their artists like TWICE, Stray Kids, and ITZY. They have also been developing new business models and strategic collaborations based in North America. In 2023, JYP introduced ‘A2K’ (America2Korea), an audition program to create a North American girl group based on K-pop, in partnership with Republic Records, the No.1 label in the U.S. under Universal Music.
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