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[Herald Economy reporter Ko Seung-hee] Leaders of one of South Korea’s leading entertainment companies—figures who helped shape K-pop and now steer its direction—have been named to Billboard’s list of Indie Power Players.
On May 11, Billboard included SM Entertainment co-CEOs Jang Cheol-hyeok and Tak Young-joon on its 2026 Indie Power Players roster.
Since 2017, Billboard has annually highlighted labels and executives that have achieved independent, creative success in the music business. The Indie Power Players feature spotlights leaders from labels and distributors who have made an impact globally, outside of the three major U.S. companies—Universal Music Group, Sony Music Entertainment and Warner Music Group.
Billboard said, “Periods of upheaval create opportunities. Across the industry we’ve seen shifts in leadership, ownership, distribution models, independence and creative control. Indie music is thriving. As of the first quarter of 2026, indie labels account for 44.15% of the U.S. recorded-music market—nearly twice the share of the major labels. With the business landscape still shifting, one clear takeaway is that operating independently can pay off.”
Jang, who makes the list for the third straight year, said, “We unveiled the ‘SM NEXT 3.0’ strategy earlier this year and have launched a range of initiatives to strengthen our creative capabilities. If SM continues to create and evolve new trends, we expect to reach and resonate with a broader global audience.”
Tak added, “The question now is what kind of experience artist content delivers to fans. We’re investing heavily not only in music but in the spaces where fans consume and spend time with content, so we can deliver a consistent story and experience.”
At HYBE, Shin Seon-jeong, CEO of BigHit Music, made the list for a second consecutive year. Han Seong-soo, master professional (MP) at Pledis Entertainment, was named for a third straight year, and So Seong-jin, MP at Source Music, appeared for a fourth consecutive year.
Shin is credited with leading BTS’s successful comeback and helping drive the rise of Tomorrow X Together (TXT) and Cortis. Han, a founder of Pledis, oversees album production for acts including Seventeen and TWS, and he is also producing the rookie girl group for HYBE’s new label ABD, set to debut in the second half of the year. So produced girl groups GFriend and LE SSERAFIM.
Also named to Billboard’s Indie Power Players was Choi Jae-yoon, CEO of Hello82, whose label handles U.S. distribution for groups such as ATEEZ and P1Harmony.
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