K-Pop Without the ‘K’ Just Won’t Pop

K-Pop is betting that it can reverse its slowing global growth by becoming less Korean. This is a mistake: Without the “K,” the music is plain pop, undistinguishable from — and unable to compete with — the dominant American kind.

There is no question the K-Pop wave is waning. Bang Si-hyuk, whose Hybe Co. is behind such acts as BTS and NewJeans, believes the industry is in crisis. South Korean customs data shows that K-pop album exports in 2022 grew just 4.8% to exceeded $230 million, compared with 62.1% in 2021 and 82.6% in 2020.