Park Hyunjin, Genie Music CEO, Officially Steps Up "Expanding Territory in the Music Business"

General Meeting Held on the 7th... Official Appointment

[Asia Economy Reporter Minyoung Cha] Genie Music, a KT affiliate, announced on the 7th that it held a shareholders' meeting and officially appointed Hyunjin Park as CEO (photo).

CEO Hyunjin Park stated, "The current domestic digital music market is experiencing stagnation in growth amid fierce competition with global companies," adding, "In a market situation where crisis and opportunity coexist, Genie Music will focus all its capabilities on customers and transform into an innovative platform company recognized and loved by customers."

He continued, "We will expand the concept of Genie Music's business and boldly take on challenges," and "We will pursue new businesses creatively combined with new technology trends to secure future core growth engines."

CEO Park proposed to Genie Music employees to embody the 'One Team' spirit. He said, "There is no player better than the team, and if we unite as one, dream the same dream, and run together, that dream will soon become reality," adding, "To become one team, we will increase communication time among members and improve infrastructure so that members can grow more."

Since 2013, Genie Music has led the domestic music service market centered on the two major music platforms, 'Genie.' Last year, it expanded its business area from music to audio services by acquiring 'Millie's Library,' the number one company in the e-book industry. This year, it plans to strengthen competitiveness in the music platform business, create synergy between music and audio services, and expand its business from music distribution to music creation. Additionally, it will discover new businesses combined with new technology trends such as artificial intelligence (AI), metaverse, and non-fungible tokens (NFT).

The newly appointed CEO Park is a marketing expert who joined KT Group in 2000 and has held positions such as head of the wired and wireless business division in marketing in 2017, head of the 5G business division in 2018, and head of the Customer Strategy Division in 2020.