JYP Entertainment (JYP 엔터테인먼트) was established by producer Park Jinyoung in May 1997. The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house. It is currently one of the largest entertainment companies in South Korea. Wook Jung is its CEO.
JYP Entertainment is home to artists including 2PM, Baek Ayeon, 15&, Got7 and JJ Project, Nakjoon, Day6, Twice, Stray Kids, and Jeon Somi, and formerly to artists like Park Jiyoon, g.o.d., Rain, Jay Park, San E, Wonder Girls, 2AM, and Miss A. Artists under JYP Entertainment are collectively known as JYP Nation.
JYP Entertainment was founded as Tae-Hong Planning Corporation in 1997, and became JYP Entertainment in 2001. The studio and headquarters of its US branch, JYP USA, opened in New York City in June 2007.
On December 2000, JYP Entertainment signed Rain as a trainee. He debuted on April 2002 as a solo singer.
On July 1, 2001, Park Jinyoung, the founder and CEO, held an open audition called the Talent & Live Voice Project 99% Competition to find candidates for his first female idol group. On May 2006, a documentary program filmed and aired on MTV Korea revealed the name of the girl group as the Wonder Girls. The program introduced Wonder Girls members Sunye, Sohee, Hyuna, and Sunmi. Ye Eun was later recruited as the fifth member of the group. Not long after her addition, the Wonder Girls' official debut was held on "Show! Music Core," where they performed "Irony" on February 10, 2007. In late July, Hyuna was withdrawn from the group by her parents and was replaced by Yubin, a trainee from Good Entertainment.
In early 2008, JYP Entertainment launched it own first documentary-style reality television program on Mnet. The show "Hot Blood Men" provided a behind-the-scenes view into JYPE's training grounds and the lives of JYPE trainees. Two teams of male trainees competed against each other for the chance to debut in the company's next boy band. The show's conclusion led to the 2008 debuts of 2PM and 2AM. In October 2008, JYP Entertainment opened the JYP Beijing Center as their China branch. The same year, CAA (Creative Artists Agency) included JYP Entertainment in its roster of high-profile clientele.
In June 2009, JYP Entertainment and the Jonas Group signed a management deal that allowed the Wonder Girls to tour as the opening act on select cities of the Jonas Brothers' World Tour.
On July 1, 2010, JYPE's second female idol group, miss A, debuted under subsidiary AQ Entertainment . In early July, Rain began to sell J.Tune Entertainment 's stock. On December 28, Park Jinyoung and JYP Entertainment employees invested about 8.5 billion won in J.Tune Entertainment to become the largest shareholder. On December 30, both Park Jinyoung and miss A all signed a contract with J.Tune Entertainment.
In March 2010, KMP Holdings was established via a joint venture between JYP, S.M. Entertainment, YG Entertainment, Star Empire, Media Line, CAN Entertainment, and Music Factory Entertainment. KMP Holdings was acquired by KT Music in November 2012, and in June 2013, KT Music absorbed KMP's distribution network. In January 2014, the seven talent agencies behind KMP Holdings formed a collective bond partnership and bought 13.48% of KT Music's stocks, leaving KT Corporation with 49.99%.
On February 16, 2010, J.Tune Entertainment merged JYP entertainment and J.Tune Entertainment. The merger became effective on February 23. J.Tune changed its name to JYP Entertainment, making JYP Entertainment into a listed company, while changing the original name of JYP Entertainment Co., Ltd., to JYP Entertainment Corporation. On September 13, JYP Entertainment held a “ONE JYP Investors Meeting” where JYP Entertainment President Jung Oak discussed the implications of a merger between the two companies, During the meeting, Jung Oak revealed that “While JYP Entertainment so far has been a company that has focused on the production of singers and music, starting from this year we will be increase the scope of our business to include other ventures such as movie, drama production, musicals, actors and tour packages.”
In November 2011, the US-based subsidiary JYP Creative was established. Park invested approximately US$1.2 million in the branch. After a year of operation, the company reportedly saw a net loss of around US$1.5 million by the end of 2012, forcing the CEO to liquidate the branch and close all US operations, including the New York branch.
On October 5, 2012, JYP Entertainment announced the debut of 15&, a female duo made up of Park Jimin, who won the first season of "K-pop Star," and "Star King" singer Baek Yerin.
On October 29, 2013, JYP Pictures signed a contract with China Eastern Performing Arts Group to co-produce the movie Hold Your Hand, featuring JYPE actors. AQ Entertainment, a subsidiary of the JYP Entertainment, became defunct on December 9, effectively moving girl group miss a to the main label.
On January 1, 2014, JYP Entertainment announced GOT7, the label's third male idol group following 2PM and 2AM. Following the end of the joint contract between Big Hit and JYP Entertainment in April 2014, three of the 2AM members returned to JYP, while Lee Changmin stayed with Big Hit to continue with his solo career and as part of the duo Homme. In late August, JYP Pictures and Dongyang World Culture Communication produced the drama "Dream Knight," starring GOT7 members.
On October 13, 2014, Bernard Park, winner of the third season of "Kpop Star," debuted as a solo artist. In November 2014, Park Jinyoung sold the JYP Entertainment HQ building in Cheongdamdong, Seoul to Choi Kiwon, the sister of SK Group's chairman Choi Taewon, for about $7 million. JYP Entertainment still rented and used the building for three years.
On January 8, 2015, Park Jinyoung announced the establishment of a new in-house subsidiary Studio J. A day later, on January 9, G.Soul was the first artist to debut under the label. On February 11, 2015, Park Jinyoung announced that the lineup of JYP's upcoming female idol group would be decided through "Sixteen," a competition show on Mnet. The show aired in May; the winners debuted on October 20, 2015 as Twice. In March 2015, 2AM's Seulong and Jinwoon departed from JYP Entertainment upon their contract expiration, while Changmin ended his contract in August and Jo Kwon renewed. On May 17, JYP Entertainment signed a contract with JaxCoco, a Hong Kong-based coconut product company headquartered in Hong Kong, with a plan to launch coconut oil, coconut flakes, and other related products at major department stores and supermarkets in South Korea. On September 7, DAY6 debuted.
In April 2017, Tencent music Entertainment and JYPE China (NCC Station) jointly established the Beijing Xin Sheng Entertainment Co., Ltd.
On July 1, 2017, JYP Entertainment acquired a property worth 20.2 billion won in Seongnae-dong, Gangdong-gu, Seoul, to be used as its new company office.
On July 27, 2017, JYP Entertainment signed a partnership with DailyMotion, Europe's largest video platform, to open a channel on its platform.
On August 4, 2017, JYPE China subsidiary NCC Station Entertainment announced the upcoming Chinese hip-hop group Boy Story, to be launched in cooperation with Tencent Music Entertainment Group.
JYP Entertainment's records are distributed by KT Music in Korea. In Japan, Sony Music distributes 2PM and Got7, while Warner Music Japan distributes Twice and Day6. JYPE music is distributed by BEC-TERO Music in Thailand, Trinity Optima Production in Indonesia, Tencent and China Music Corporation in China (online only), One Production throughout the rest of Asia, and SubKulture Entertainment in the USA. In 2011, JYP Entertainment joined with S.M. Entertainment, YG Entertainment, KeyEast, AMENT, and Star J Entertainment to form United Asia Management in an effort to promote Korean pop music internationally.
On November 17, 2013, JYP Entertainment partnered with Smile Gate to promote the game CrossFire with 2PM and Miss A.
JYP Foods Inc was founded in 2010. On March 27, 2012, Park Jinyoung opened his first restaurant, Kristalbelli, in New York City. A Korean BBQ restaurant, it is known for its use of crystal grills.
Studio J bar was created on June 2, 2016, as a collaboration between JYP Entertainment and a famous bar in the Chungdam District called Y1975.
The Street is a brunch cafe and a bistro run owned by JYP Entertainment. The main branch is located near the JYP Entertainment office building, and another branch is located in the Gyeongridan area, Itaewon.