Aju Business Daily

SEOUL -- The agency of BTS absorbed a label established by Zico, a rapper and record producer who had conquered South Korea's music scene with his single "Any Song" that topped all Korean real-time digital charts in January.

Big Hit Entertainment said the acquisition of KOZ Entertainment is part of efforts to expand the intellectual property of artists and strengthen its music-producing ability. "Through Big Hit's global network and systematic music production system, we hope KOZ artists will act vigorously in the global market," said BTS creator Bang Si-hyuk.

Woo Ji-ho, better known by his stage name Zico, debuted as Block B leader in 2011 and established KOZ in early 2019. The 28-year-old is notable for his crossover skills within the Korean hip hop scene.

Helped by the stellar success of BTS, Bang has pushed for structural changes to introduce a multi-label system by acquiring labels such as Source Music, which manages girl group GFRIEND, and Pledis Entertainment, which controls two boy bands, NU'EST and Seventeen, as well as beNX, an entertainment platform company known for its fan community service Weverse.

Big Hit has also expanded into various genres including webtoons, animations, comic books, dramas and 3D graphic films. The 2019 acquisition of Superb, a company specializing in multi-platform music games, underscored Bang's aggressive business strategy. Superb carries out global services by using the intellectual property of Big Hit and related companies.