Is HYBE Opening An Office In India? — HYBE Official Responds

According to reports, HYBE is eyeing the Indian market to make its entrance and expand its global business.

On May 9, KST, Yonhap reported that HYBE is currently pushing for a plan to set up a new office in Mumbai, India, citing sources in the finance and investment industry. This would mark the first time a Korean entertainment company would enter the Indian market directly.

The Yonhap report noted that India is considered a market with great growth potential, with a population of more than 1.4 billion. It is also a predominantly young population, with the average age being 28.2 as of last year.

In addition to the young demographic, the Indian population has foreign language skills, primarily in English, bolstering its potential to grow into a highly prolific market for a global entertainment industry.

According to PwC Consulting, India’s entertainment and media (E&M) market is expected to grow from 2.45 trillion rupees (about 40 trillion won) in 2023 to 3.45 trillion rupees (about 56 trillion won) in 2028, recording an annual growth rate of 8.3% over five years. HYBE is reportedly trying to capitalize on this opportunity.

When Yonhap reached out to a HYBE official for a response, they stated that market research for various countries is routinely conducted at the company. However, expanding into the Indian market through a local office was not at a stage of concrete planning.