While delivering the keynote speech at the Maekyung Vietnam Forum, Lee Soo-man revealed future plans for NCT.
Lee Soo-man, the founder of SM Entertainment Group, attended the Maekyung Vietnam Forum evening ceremony at the Hanoi Lotte Hotel on Dec. 5. Mr. Lee was invited as a guest keynote speaker where he would talk economic development and the future of entertainment. In the speech, Mr. Lee touched on various topics including the future of SM Entertainment and the Vietnamese economic development through cultural contents. Further, he also spoke about the launch of the NCT Vietnam unit, and the birth of V-pop (virtual pop) which has steadily grown in popularity globally.
SM Entertainment and Vietnam’s Economic Growth
In his keynote speech, Lee Soo-man said, “In 1997, we entered the overseas market and declared ‘Culture first, Economy Next’. This is contrary to the existing ideology that is transmitted around the world that basically says the opposite. However, when a good culture spreads to other places and is loved by neighboring countries, it is expected that this phenomenon will lead to economic greatness.”
He then focused on Vietnam and its economic and commercial potential. “Vietnam is a very young and dynamic country with 65% of the population under the age of 35. SM Entertainment finds these statistics about Vietnam especially exciting. This is because Vietnam shares a lot of cultural similarities with Korea such as lifestyle, emotion and Confucian culture. Based on these demographic and cultural characteristics, Vietnam will be able to accelerate its economic growth by creating world-class stars and cultural content in Vietnam.”
In addition, he said, “SM has uncovered talent in Vietnam and create the NCT Vietnam Team, which will become a star in Asia and the world… I want to make Vietnam’s economy and industry more advanced through the development of culture.” Mr. Lee then spoke more about V-pop and the benefits of AI and K-pop on different industries before ending his speech to a full applause.
Neo Culture Technology
NCT, an acronym for Neo Culture Technology, is a special music group project from the mind of Lee Man-soo. The NCT project was created as a global k-pop boy group that has a huge number of members that are plugged into different units. Moreover, due to the purposeful diversity of NCT members, units cover different concepts and can be marketed in international markets. So far SM Entertainment has launched three NCT units: NCT U, NCT 127, and NCT Dream.
The forum was hosted by the Maekyung Media Group, the Korea Cultural Industries forum and the Vietnam Chamber of Commerce. Furthermore, the forum was held to commemorate the 25th anniversary of diplomatic relations between Korea and Vietnam.
Translated by O.C