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In a resounding triumph for the K-pop industry, there has been a groundbreaking surge in album exports, with the United States surpassing China to become the second-largest market after Japan.
It was revealed that K-pop album exports reached an all-time high in the first half of the year, soaring to a staggering $132.934 million. This remarkable figure represents a 17.1% increase compared to the same period last year, establishing a new record.
The dominance of K-pop was evident as Japan emerged as the top export destination, followed closely by the United States and China, collectively referred to as the 'Big 3'. Notably, the United States, renowned as the world's largest music market, climbed to second place in music exports, surpassing China.
This significant feat was achieved even without the active group activities of the immensely popular BTS. Individual artists like Jimin (BTS) made history by becoming the first K-pop solo artist to enter the prestigious US Billboard's 'Hot 100' chart with his mesmerising solo album title track, 'Like Crazy'.
The achievements of Stray Kids, TOMORROW X TOGETHER, Seventeen, Ateez, and Twice further solidified K-pop's influence, with their albums topping the Billboard 200 chart.
Additionally, the group FIFTY FIFTY, fondly known as the 'miracle of small and medium-sized idols', captivated listeners with their catchy song 'Cupid,' maintaining a remarkable presence on the 'Hot 100' chart for 16 consecutive weeks.
Reflecting the widespread impact of K-pop, Luminate, an American music market analysis company, reported in its mid-year analysis that Korean ranked as the third most streamed language in the United States, following English and Spanish.
The Korean Music Contents Association's secretary general, Choi Kwang-ho, stated that K-pop has now solidified itself as a distinct genre in the North American market, building upon the success of renowned acts such as BTS and BLACKPINK.