FIFTY FIFTY’s Label Attract Wins Rare Export Deal
In an unexpected twist, Attract—the entertainment company behind rising K-pop group FIFTY FIFTY—has secured a 500 million KRW (approximately $370,000 USD) export credit guarantee from the Korea Trade Insurance Corporation. Why is this a big deal? Because this kind of guarantee is almost exclusively reserved for manufacturing firms. Translation: a non-traditional entertainment label just got a major financial vote of confidence.
Why Attract’s Financial Leap Is Making Headlines
Typically, Korea’s Korea Trade Insurance Corporation (K-SURE), which operates under the Ministry of Trade, Industry and Energy, only backs companies that ship physical products overseas. Think electronics, cars, or K-beauty products. Not digital content—or idol girl groups.
But Attract broke the mold. K-SURE evaluated the company not only on its finances, but on key non-financial factors: content production capability, global growth outlook, and export performance. In a nutshell, Attract showed that K-pop is serious business—and a viable export product.
Meet Attract: The Indie Label That Went Global
Founded in 2021 by Jeon Hong Joon, Attract is hardly a household name in the industry. But it became a buzzword when its first girl group, FIFTY FIFTY, exploded with the viral hit “Cupid.” The track spent an astonishing 25 consecutive weeks on Billboard’s Hot 100—an achievement that even some veteran K-pop acts haven’t managed.
That success didn’t just put FIFTY FIFTY on the map—it also cast Attract as a bold new player in the business of Hallyu (the Korean Wave). Instead of riding the distribution coat-tails of larger agencies, Attract self-produces its content and owns its music IPs. That independence became their financial ace.
Why K-SURE Took a Chance on a K-pop Agency
Unlike traditional evaluations that dig into balance sheets, K-SURE’s decision was driven by unorthodox indicators. They looked at:
- Technological creativity: Attract’s ability to develop and promote music independently
- Global potential: FIFTY FIFTY’s record-breaking chart run sparked international investment interest
- Revenue transparency: Direct music profits linked to global streaming and merchandising
Essentially, K-SURE is betting that Hallyu isn’t a trend—it’s an export market unto itself, and Attract has positioned itself as a content exporter, not just an idol-maker.
How Will This Boost Korean Entertainment Exports?
Attract’s win sets a strong precedent: if small entertainment companies can earn export credit, more creative agencies could follow. That could unlock new funding models for K-pop, webtoons, and K-dramas—all reliant on global fanbases hungry for digital content.
It also marks a shift in perception. Korean entertainment isn’t just culture—it’s economy. This development echoes the goals of the Korean government’s long-standing commitment to “soft power” exports via K-culture.
Attract’s Plans to Go Bigger—And Broader
With new financial backing, Attract plans to double down on its indie yet globally-minded strategy. The label intends to:
- Ramp up production of self-made digital content
- Invest in overseas promotion and markets
- Expand FIFTY FIFTY’s reach by building more international partnerships
The guarantee isn’t just cash—it’s clout. With proof that institutions see K-pop as export-worthy, Attract can now negotiate better deals, foster joint ventures abroad, and bring their brand of K-pop to untapped demographics.
The Ripple Effect: What It Means for Other K-pop Labels
Attract might be the first, but it likely won’t be the last. This milestone could encourage other small and mid-sized agencies to leverage their IP as export assets.
Here’s why this matters long-term:
- Level the playing field: Indie companies can access financial tools once only available to conglomerates
- Empower innovation: Creative risk-taking is easier when capital is accessible
- Support Hallyu expansion: From OSTs to fan platforms, the Korean wave now has more financial muscle
Looking Ahead: K-pop as a Certified Export Industry
This event might be remembered as the moment when Korean pop music was officially stamped with economic credibility. No longer just the business of fandoms and fandom wars—it’s now geopolitically relevant commerce.
If Attract can carve out massive global success from what amounts to a K-pop startup, other labels may follow with similar ambitions—and the funding to chase them.
FAQs
Why is Attract’s export credit guarantee such a big deal?
Because it’s rare for an entertainment company—especially a smaller one—to receive financial support typically given to product exporters. It validates K-pop and content creation as serious global exports.
What does this mean for FIFTY FIFTY’s future?
With more funding and institutional support, FIFTY FIFTY may see expanded promotions abroad, better production resources, and potentially faster global growth.
Can other K-pop labels get export guarantees too?
Potentially yes. Attract’s success could open doors for other indie labels with global ambitions. It depends on how compelling their content strategies and earnings potential are.
