Galaxy Corporation, the agency of K-pop star G-Dragon, announced plans to unveil a new business model combining artificial intelligence (AI) glasses and robotics within this year.
"We will prove the entertainment-tech vision our company pursues through our robotics and AI glasses business," CEO Choi Yong-ho said at a press conference held at IFC in Yeouido, Seoul, on Thursday. Choi's new business concept involves integrating AI glasses and robots into fan meetings and concerts. "With AI glasses, foreign fans can receive real-time interpretation, and artists can communicate more closely with their fans," he said. "People will be able to experience concerts from home through AI glasses as well."
Choi added that the company plans to develop a 16,500-square-meter "Galaxy Robot Park" in Songpa-gu, Seoul, opening in phases. "The first phase will be a K-pop Robot Arena concert venue where audiences experience K-pop concerts through robots, with three shows daily and over 1,000 performances annually," he said.
Galaxy Corporation posted revenue of 298.9 billion won ($209 million) last year with operating profit of 12.5 billion won, turning profitable for the first time since its founding. "G-Dragon currently accounts for about 75 to 80 percent of our company's revenue," Choi said. The agency also represents singer and TV personality Kim Jong-kook, SHINee's Taemin, and actor Song Kang-ho.
"We are in discussions not only with domestic artists but also with global artists, and we are considering recruiting top talents in sports and gaming," Choi said. "There will be interesting news soon."
Regarding IPO plans, Choi said the company is considering all options including Korea's KOSDAQ and KOSPI as well as the New York Stock Exchange and NASDAQ in the United States. "An IPO is one stage of growth, not the ultimate goal," he said. "We will discuss the timing of listing while focusing on the company's vision, performance, and fundamentals."
Choi also published a new book titled "Conditions of the Übermensch: 33 Paths to Becoming an Übermensch" with Shin Tae-kyun, former vice president of Samsung Human Resources Development Institute. The book presents specific methodologies for becoming an "Übermensch" who innovates oneself by focusing on values that only humans can create in the AI era. Galaxy Corporation plans to publish a total of 20 books in the "Übermensch" series under the common theme of "world-class excellence."