KOMCA Presidential Showdown: K-Pop Royalties Reach 450 Billion Won

Introduction to the KOMCA Election

The Korea Music Copyright Association (KOMCA) is about to undergo a significant leadership change as the election for its 25th president is set for December 16. With K-pop royalties soaring to an impressive 450 billion won, the stakes are high. The current leadership and reform advocates are at odds, leading to a heated competition in the lead-up to the election.

Incumbent Candidate’s Perspective

Composer Kim Hyung-seok, a notable figure with a repertoire exceeding 1,400 songs, is vying for re-election. Having penned hits for artists like Park Jin-young and Sung Si-kyung, Kim claims he is seeking office at the request of his peers. In a press conference held in Seoul, he emphasized his commitment to enhancing transparency within the organization and refining copyright collection processes. He recognizes some criticisms regarding the organization’s management but believes that recent progress, particularly in expanding the reach of copyright fees, should also be acknowledged.

The Reformist Standpoint

On the other hand, Lee Si-ha, a former member of The Cross, is representing the reformist faction. He stresses the urgent need to address entrenched interests within the association. In a conversation with the media, Lee articulated the necessity for a complete restructuring to ensure accountability and transparency. He proposes that any significant reforms begin from within, warning against the risks of relying solely on external audits without addressing internal issues.

Diverging Paths and Challenges

While both candidates recognize the need for innovation, their proposed methods differ significantly. Kim emphasizes leveraging existing frameworks, while Lee advocates for radical changes. The contrasting views suggest that the tension between these factions will escalate as the election approaches. Currently, only 900 of the association’s 55,000 members hold voting rights.

The Impact of K-Pop’s Growth

KOMCA, founded in 1964, has dominated the music copyright sector for decades. Recently, it has experienced monumental growth, with revenue increasing from 288.5 billion won to 465.3 billion won in just a few years. This success raises questions about operational management, including complaints of extravagant expenditures. Data from the Ministry of Culture, Sports and Tourism unveiled significant payments to executives over the past nine years, igniting discussions about appropriate compensation amidst soaring revenues.

Conclusion

With both candidates committed to addressing significant issues within the KOMCA, the upcoming election is poised to bring about crucial changes in the organization. As the day nears, the music community remains watchful of the developments, eager to see which candidate will shape the future of music copyrights in the ever-evolving K-pop landscape.