Lucian Grainge, chairman and chief executive officer (CEO) of Universal Music Group (UMG), the world's largest music corporations, visited Korea and met with Chairman Bang Si-hyuk on the 16th at HYBE's headquarters in Yongsan, Seoul.
According to HYBE on the 17th, the meeting came together after Chairman Lucian Grainge traveled to Korea specifically to meet with Chairman Bang. UMG is the world's largest music corporations, holding more than 30% of the global record market. Grainge has worked with stars including Queen, ABBA, Elton John, Taylor Swift and Billie Eilish for more than 40 years.
The relationship between HYBE and UMG began in 2017 with BTS's Japan record and music distribution deal. In 2021, they signed a strategic partnership and continued their collaboration by pursuing the establishment of a joint venture with Geffen Records under UMG.
In 2024, they further expanded the scope of cooperation by signing an additional partnership centered on global distribution of records and music by labels under HYBE Music Group and support for North American promotions for affiliated artists.
In a talk, Grainge said, "Music is like oxygen to me," adding, "When times are hard or I'm feeling down, if I turn up the music I love, I feel like everything melts away."
Bang also said, "Music is life itself and the reason I live," noting, "Even when life is hard, it is the only driver that makes me accept it."
The two shared their first teenage years of being captivated by music, the hardships of working in the music industry, and their philosophies.
Grainge said, "Wherever you are and whatever responsibility you take on, ultimately there is nothing without music," adding, "My management philosophy is that you must work surrounded by good music and good people."
Bang responded, "Corporations should resolve society's inconveniences in line with the essence of their business." He added, "Our way of solving this is to satisfy emotions through music for fans who pursue happiness even when they are lonely and struggling, and to give strength to their lives," and, "We must become corporations that, while keeping our essence, can present fans with reasons to live through music."
As managers, the two rated each other as the best partners. Grainge said, "Chairman Bang, as a songwriter, producer and entrepreneur, has built a truly special and creative culture," adding, "Bang is not a transaction person but a strategic thinker, and that is why I have been able to work with him as a partner for so long."
Bang also noted of Grainge, "I respect the journey in which you have boldly presented new solutions whenever countless changes have arrived."