[K-Content Goes Global②] The Making of Global Star Hoyeon by K-Management

Winds of Change in Domestic Management Amid K-Stars' Global Scale

Jung Ho-yeon Rises as a World Star, Firmly Establishing Her Place

So-young Lee, CEO of Saram Entertainment: “Korea Needs Systematic Specialization”

K-content, encompassing a wide array of South Korean films, dramas, and series, is steadily securing its place on the global stage. It’s not just a fleeting interest but a prevailing trend in the mainstream. What started as a 'Korean Wave' in Asia has now expanded worldwide. Our preparation and ability to seize opportunities have aligned perfectly with the times.

What seemed like an impossible task in the past—constantly knocking on doors—has ultimately resulted in success from our home turf. There was a time when the pinnacle for films was simply walking the red carpet at Cannes Film Festival. Now, we've breached the Academy Awards, and we have dramas eyeing the Emmys. Hollywood platforms are investing billions of won to create historical dramas about Korea. This growth isn’t just about individual successes but extends to the entire K-culture, including K-pop.

The status of stars dancing atop our cultural wave has also changed. The potential for any star to be recognized globally is boundless. While some locals might still view them as 'overnight Asian sensations' or 'unknown actors,' industry professionals recognize them as 'must-have talents' and 'collaborative blue oceans.'

This shift has brought winds of change to domestic production and management companies. The focus is on positive development and embracing win-win situations rather than simply aiming for success. One person who recognized this early, took on the challenge of breaking into Hollywood, and now stands at the forefront of the global stage is Soyoung Lee, CEO of Saram Entertainment. Her agency boasts talents like Yeri Han from 'MINARI,' Hoyeon from 'Squid Game,' and Minha Kim from 'Pachinko.' Drawing from her 15 years of experience in management, she provides an overview of the current state of K-content.

Following [Global Landing of K-Content①]

사람엔터테인먼트 이소영 대표 〈사진=사람엔터테인먼트〉

Saram Entertainment has established itself as a key player in the industry, housing many leading actors in Chungmuro. The recent surge in their prominence is largely attributed to Hoyeon from 'Squid Game.' Hoyeon, who became the biggest beneficiary of OTT platforms beyond 'Squid Game,' turned her first acting role into an unprecedented global phenomenon. This explosive synergy between her accumulated skills as a top model and the management's support is noteworthy.

Her future endeavors are equally impressive. Hoyeon has already committed to two Hollywood projects. She will star in the Apple TV+ thriller series 'Disclaimer,' directed by acclaimed director Alfonso Cuarón, and in Joe Talbot's new film 'THE GOVERNESSES.' In 'Disclaimer,' she plays Kim, a smart, energetic, and ambitious woman ready to seize any opportunity, alongside Cate Blanchett. In 'THE GOVERNESSES,' she takes on the role of a rebellious governess, joining Lily-Rose Depp and Renate Reinsve.

As her recognition in Hollywood rises, especially with her surprise win for Best Actress at the Screen Actors Guild (SAG) Awards, Hoyeon is naturally receiving a flood of love calls. It is essential to capitalize on this attention while maintaining her roots as a genuine actress rather than a fleeting star. The crucial aspect amid this influx of offers is crisis management. Ensuring no one feels neglected and making the best possible decisions while staying grounded is vital. Saram Entertainment and Hoyeon have navigated these challenges, standing firm and breaking through tough situations.

Hoyeon: From OTT Cinderella to Global Icon

미국배우조합상(SAG)에서 여우주연상을 수상한 정호연 〈사진=연합뉴스/REUTERS〉

27회 크리틱스초이스어워즈(Critics Choice Awards) 무대에 선 '오징어 게임' 박해수, 정호연, 이정재 〈사진=연합뉴스/AP〉

33회 미국프로듀서조합상(Annual Producers Guild Awards)에서 스피커로 나선 정호연 〈사진=연합뉴스/AP〉

미국영화연구소(AFI) 어워즈에서 할리우드 배우 메릴 스트립과 만난 정호연 〈사진=연합뉴스/GETTY〉

모델 시절부터 글로벌 떡잎은 보였던 정호연이다. 그랬던 그가 정해진 해외 쇼를 포기하고 '오징어 게임' 오디션을 위해 입국했던 건 이제 너무 유명한 일화. 당시 '미나리'로 선댄스영화제에 참석했던 이소영 대표는 LA로 넘어가는 일정 사이 뉴욕에 잠시 들러 정호연을 만났고, '정호연을 새벽 역할에 추천하는 것'에 대한 확신을 얻었다. 오디션 참석을 결정한건 정호연, 최종 선택은 전적으로 황동혁 감독의 몫이었지만 매니저로서 확신할 수 있었던 운명의 시작은 뉴욕이었다. 매니지먼트 대표로서 확신이 없었다면 포기와 도전의 기로에서 과감하게 밀어붙일 수 있었을까.

Hoyeon has always shown the potential to be a global talent, even during her modeling days. It’s now a well-known story that she gave up a scheduled international show to return to Korea for the 'Squid Game' audition. At that time, CEO Soyoung Lee of Saram Entertainment, who was attending the Sundance Film Festival for 'MINARI,' made a brief stop in New York between her schedule in LA to meet Hoyeon. It was in New York that Lee became convinced of recommending Hoyeon for the role of Sae Byeok. Though the final decision was up to director Hwang Dong-hyuk, the fateful encounter in New York marked the beginning of this journey. Without Lee’s conviction as a manager, it might not have been possible to push forward decisively at the crossroads of giving up and taking on the challenge.

“I’ve come to believe in fate. (Laughs) It’s a strange connection. While we now talk about it with the benefit of hindsight, one can’t help but wonder ‘what if.’ What if I hadn’t gone to New York back then? What if Hoyeon had given up the audition for the show? Even as I read the script for 'Squid Game,' I had many lingering doubts, but meeting Hoyeon in New York ignited a desire to see her play Sae-Byeok. I became certain that if she performed well in the audition, I had to recommend her for the role. We seriously discussed the ‘great opportunity,’ and Hoyeon made a significant decision, seeing the audition itself as a chance.”

This pivotal decision was just the beginning, not the end. Although she had been preparing to transition from modeling to acting, the overwhelming success of 'Squid Game' necessitated new marketing strategies for an 'influential star.' The task was to highlight her effectively while preserving her identity and value as an actress. Saram Entertainment prioritized domestic requests to build positive relationships and cooperation, while also considering ways to expose her to the global audience. CEO Lee recalls that period as “an incredibly important, urgent, and complex moment.”

"Our PR team worked hard to establish the transformed image of 'actress Hoyeon,' while the advertising team was overwhelmed with sorting through the influx of advertisement offers. Most importantly, we couldn't afford to break any promises or lose credibility. We took it step by step, opening up opportunities to brand Hoyeon and strategically timing our decisions. The key was whether we could effectively brand the presence of this actress. For me, it wasn't about securing numerous advertisement deals or high modeling fees, but about finding the right opportunities to solidify the actress's branding. The timing of our decisions was crucial—when to decide on a brand, what kind of brand, and in what manner to make the decision. It was essential to calculate the optimal timing to elevate the actress's grade. Thankfully, the actress trusted the company's timing, waited patiently, and agreed with the final decisions.

In this process, CEO Soyoung Lee's past experience in the advertising industry played a significant role. With a deep understanding of both advertising and management, she had a sense of which brands would want which artists. Although there wasn't much time for in-depth discussions with Hoyeon, the actress, being a fashion expert herself, understood the situation, and CEO Lee, as a brand and artist expert, brought about a perfect collaboration.

'Since she was loved through a Korean production, it was important to do Korean advertisements as well,' she thought. The three weeks that followed felt like a war, but as they calmly sorted through the crucial matters, the necessary steps became clear. 'Had I lost my composure and rushed through things, I wonder if we would have achieved the same results,' she reflected. She felt satisfied with the brand strategy, appreciating the close cooperation throughout the process. The networks of Hoyeon's European and American agents, who had previously worked with her, also provided significant support."

국내 매니지먼트 VS 해외 에이전시

사람엔터테인먼트 이소영 대표 〈사진=사람엔터테인먼트〉

Hoyeon signed with Creative Artists Agency (CAA), one of the top three agencies in the United States, known for representing Hollywood stars such as Brad Pitt, Tom Hanks, Beyoncé, Norah Jones, Cardi B, and Justin Bieber. As the PR and advertising teams focused on selecting brands, the global team at Saram Entertainment dedicated their efforts to organizing agent data. During this time, they received numerous inquiries from overseas agencies regarding contracts. CEO Soyoung Lee’s extensive experience and high-quality information gathered from her trips to the US over the past five to six years proved invaluable. By minimizing face-to-face meetings, they were able to choose the best agency and agent.

"We received many congratulations on signing with CAA, but technically, it’s a mutual celebration for both CAA and Saram Entertainment. CAA approached us first, expressing their desire to work with us, and we were delighted to choose them as our partner. Essentially, it was a mutual selection as equal partners. The concept of management in Korea is distinctly different from that in the US. In America, it’s more about 'who you work with' rather than just the company itself. Ultimately, working with a remarkable agent is an honor, and meeting a partner who can support Hoyeon is both fortunate and gratifying. I believe Korea should gradually adopt this approach as well."

Even within CAA, the impact and 'grade' can vary significantly depending on the agent. While CAA's extensive system is impressive, an actor’s influence is also tied to which agent they work with and the outcomes they achieve. Thus, the capability to connect with the right agent becomes a significant asset. Saram Entertainment had already laid the groundwork by hiring an experienced agent from CAA early on. CEO Soyoung Lee emphasized, “In Korea, agents also need to become stars.”

“In Korea, the traditional approach in management is to work behind the scenes without drawing attention, and the reputation of a large company has been a customary measure of credibility. However, now, individual careers within their respective fields are becoming more important. Highlighting one’s business acumen should contribute to the company’s growth. It's not just about being 'someone from a big company,' but 'the company where someone notable works' that matters.”

The biggest difference between overseas agencies and domestic management lies in the fact that overseas agencies do not take responsibility for the artist’s life. Agents see their role as a profession, focusing solely on performing their duties to the best of their abilities. In contrast, Korean management often takes a more personal and comprehensive approach, sometimes to the point where the artist’s life becomes intertwined with the manager’s own life. Despite the professional advancements in the system compared to the past, the perception of human rights violations and inhumane treatment persists.

“This difference can be attributed to cultural factors, and there are pros and cons to both approaches. Overseas, all aspects are approached from a business and professional perspective. Agents, PR teams, studios, tax advisors, accountants, and lawyers specializing in artists all work on individual contracts. In comparison, Korean management companies provide a plethora of services within a single umbrella, which, while convenient, may not always be effective from a business standpoint. Historically, the revenue from artists' portrait rights in the entertainment industry was minimal, and the business foundations of entertainment and management were not well established. However, times have changed, and so has the era. Now, it is crucial for artists to recognize that managers and agents are not there to handle everything. If this system works in the US, there is no reason it can't be adopted in Korea.”

This perspective aligns with CEO Soyoung Lee’s goal of building a specialized agent-management business model that adapts to the identities of artists, promoting global careers for domestic managers alongside the global rise of K-content and K-stars. Given the expertise Korean managers have in nurturing countless stars, there is no reason they cannot apply the same skills to their own professional development. Soyoung Lee expressed her commitment to this vision, highlighting it as a responsibility she feels as a senior in the industry where emotions and souls inevitably become connected.

조연경 엔터뉴스팀 기자 [email protected] (콘텐트비즈니스본부)

Original Article : https://news.jtbc.joins.com/article/article.aspx?news_id=NB12056056