Billionaire Hitman’s Label Targets Rival to Keep K-Pop’s Luster

A takeover of SM Entertainment Co. is crucial to solidify K-pop’s influence and make it mainstream globally, Hybe Co.’s chief executive officer said, underscoring the BTS label’s determination to control its K-pop rival.

The move is necessary, Park Ji-won said in his first interview as head of Hybe. K-pop’s rapid growth during the pandemic is now slowing, triggering fears that momentum in the genre might be peaking, he said.

“The most glorious days are the most dangerous period,” Park said. International players are starting to learn from K-pop’s success, and its formulas and methods are in danger of being ...