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Name: Yazhuo Wang; Pinxi Wang; Dongming Lan Seat:Group Number:12YG Entertainment - WorksheetThe political, economic, and cultural factors behind YG’s success are:●Political：1) Plan（Pop culture-key strategic) 2) Regulation support (copyrightprotection) 3) Large budget support policy●Economic: 1）Economic base: largechaebolconglomerates (LG, Samsung etc.) 2)Demand for new source of export revenue.●Culture: 1)Seo Tai-ji and Boys’ legacy 2)Shifting of mainstream music (trots &ballads-Hip Hop 3) Large consumer base e.g. teenagers.The strategy and management practices that contributed to YG’s success are:●Selection: rigorous; talent first; rookies first●Training: Factory model; review system (incentive mechanism)●Management: YG Family Culture (company value)-78% retention rate●Promotion: Controversial press releases; teaser videosYG is different from other companies (Asian and US) in the following manner