TJ Media has led the karaoke culture in South Korea for over 30 years, shaping both the origins and the present of the industry. While numerous crises led competitors to collapse one by one, the company survived and ultimately rose to the top of the industry by focusing on its core competitiveness. Through aggressive technological investment, TJ Media strengthened its fundamental competitive edge in sound quality and content. Additionally, recognizing the industry's sensitivity to economic fluctuations, the company reinforced its financial structure by prioritizing liquid assets to prepare for crises. It also concentrated on new businesses that could generate synergy with its core operations and swiftly responded to consumer trends, securing a leading position in the emerging coin karaoke market.
"A room that individuals or groups can rent for singing in South Korea, or a facility containing one or more such rooms."
This is the meaning of a newly added word to the Oxford English Dictionary (OED) in December 2024. The word is "noraebang." For Koreans, this word may be familiar, but it has now been included as a proper noun in the most authoritative dictionary in the English-speaking world. This suggests that Korean pop culture, led by K-Culture and K-pop, is gaining global attention and influence.
The history of noraebang in South Korea spans more than 30 years. The company that has led the country's noraebang culture while shaping both its origins and present is TJ Media, the industry’s top player. TJ Media stood out early on in the noraebang market, which once saw fierce competition among more than 15 companies. Despite numerous crises, from the IMF crisis to the COVID-19 pandemic, which caused competitors to collapse one by one, TJ Media firmly maintained its position as the industry's second-largest player. Then, in the 2010s, as Kumyoung, the long-standing market leader, faltered due to internal struggles, TJ Media swiftly responded to new market trends and claimed the top position.
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This content was translated into English by AI (using DeepL) from an article that was originally written in Korean in the DBR (Donga Business Review). Therefore, please understand that there may be some awkward expressions.
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