Loen Entertainment
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Jeongsuk Building, the headquarters of LOEN Entertainment
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Native name
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주식회사 로엔엔터테인먼트 (full) (주)로엔엔터테인먼트 (shortened) |
|---|---|
| Public | |
| Traded as |
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| Industry | Entertainment |
| Genre | |
| Founded | 1978 |
| Founder | Min Yeong-bin |
| Headquarters | Seoul, South Korea |
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Key people
|
Shin Won-soo, Park Seong-hoon (joint CEOs) |
| Services | Entertainment |
| Revenue |
 US 323.2 million (2014)
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KRW 65.9 billion (2015) KRW 58.4 billion (2014) |
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KRW 50.6 billion (2015) KRW 45.7 billion (2014) |
|
| Total assets |
KRW 303.8 billion (2014) |
| Owner |
Kakao Corp. (76.40%) Samsung Asset Management (5.00%) |
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Number of employees
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361 (as of October 2016) |
| Parent | YBM Group (1978-2005) SK Group (2005-2016) Affinity Equity Partners (2013-2016) Kakao Corp. (2016-present) |
| Divisions | Melon |
| Subsidiaries |
Starship Entertainment (70%) WS Entertainment (100%) Plan A Entertainment (70%) |
| Website | iloen |
| LOEN Entertainment | |
| Hangul | 로엔 엔터테인먼트 |
|---|---|
| Revised Romanization | Roen Enteoteinmeonteu |
| McCune–Reischauer | Rŏen Ent'ŏt'einmŏnt'ŭ |
| Seoul Records | |
| Hangul | 서울 음반 |
| Revised Romanization | Seoul Eumban |
| McCune–Reischauer | Sŏul Ŭmban |
LOEN Entertainment (Hangul: 로엔 엔터테인먼트), formerly Seoul Records (Hangul: 서울 음반), is a South Korean entertainment company established by Min Yeong-bin in 1978. It is headquartered in Tehran Boulevard, Gangnam, Seoul. The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house.
As of 2015, LOEN is the leading record company in South Korea by net revenue according to the statistics compiled by the Korea Music Content Industry Association (KMCIA) through the Gaon Music Chart (30.4%); it is also the second leading company in terms of album sales (25.4%). Since January 2016 LOEN has been a subsidiary of Kakao.
Online music sales account for most of the company's profit, with 93.9% of revenue coming from online music sales. The label also distributes CDs of some other entertainment agencies in South Korea through its branch LOEN Music, but makes less than 5% of its revenue through them.
LOEN Entertainment was founded as Seoul Records in 1978 by Min Yeong-bin as a subsidiary of YBM Sisa, a company mainly involved in creating language-learning tapes. The company was officially registered in 1982, and in 1984 it began to produce and distribute records of classical and traditional music. It was registered as a venture capital company in 1999, when it began to sell albums while operating an online shop. In 2000, the company's name was changed to YBM Seoul Records and it began to operate on KOSDAQ. The company joined the IFPI in 2003. Korean conglomerate SK Telecom bought a 60% share of the company in 2005, and YBM Seoul Records subsequently became part of SK Group. As of 2008, the company has been known as LOEN Entertainment.
LOEN took charge of SK Telecom's online music distribution service, MelOn, in 2009. MelOn is currently the most used online music sales site in South Korea.
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