South Korean residence operator startup Jienem has signed a memorandum of understanding (MOU) with Kreation Music Rights (KMR), a subsidiary of K-pop giant SM Entertainment Co., to develop a K-pop-themed hotel. The initiative aims to cater to the growing global community of K-pop fans, as well as international composers and lyricists.
This new venture seeks to establish a cultural hub that will provide a unique experience for K-pop enthusiasts from around the world. Jienem, which operates six residences across South Korea, recently received investment from SM Culture Partners, further solidifying its position in the market.
The collaboration comes at a time when the popularity of the Korean Wave, or Hallyu, is surging. According to the 2023 Global Hallyu Status report by the Korea Foundation and the Ministry of Foreign Affairs, the number of Hallyu fans worldwide reached approximately 225 million by the end of last year. This represents a substantial increase from 9.26 million in 2012 and a 25.8% rise of 46 million from the previous year.
The K-pop hotel is poised to become a landmark destination, attracting visitors who are eager to immerse themselves in the vibrant K-pop culture. This development not only highlights the continued global influence of K-pop but also showcases South Korea’s innovative approach to tourism and cultural promotion.