DatVietVAC founding chairman Dinh Ba Thanh. Photo: DatVietVAC

The partnership brings together DatVietVAC’s more than three decades of experience in Vietnam’s entertainment ecosystem and Yoon’s international expertise in artist development, intellectual property (IP) and fandom building.

Rather than replicating successful models from other countries, the cooperation aims to develop an approach tailored specifically to Vietnam, with ambitions to take Vietnamese entertainment assets to international markets.

Two founders, two experience foundations

The establishment of the joint venture marks a new chapter in Thanh’s more than 30-year journey in building and shaping Vietnam’s media and entertainment industry.

Since the early stages of Vietnam’s modern media sector, DatVietVAC has expanded from media into content production, television, digital platforms, artist management and IP exploitation, gradually building an ecosystem that connects multiple segments of the entertainment industry.

DatVietVAC will bring to the joint venture its deep understanding of the Vietnamese market, audiences and entertainment ecosystem, which generated more than VND3 trillion (US$115 million) in revenue in 2025, as well as creative, production, IP development and artist-network capabilities accumulated over decades.

The goal is not simply to enter another business segment, but to create new models capable of producing artists, IP and fan communities with long-term value.

DatVietVAC chairman partners with former HYBE global CEO to develop Vietnam’s fandom economy- Ảnh 1.

Lenzo Yoon, founder of LSH Global and former Global CEO of HYBE. Photo: DatVietVAC

On the other side, Yoon brings extensive international experience built through years of working with leading entertainment companies.

During Big Hit’s period of rapid expansion and transformation into HYBE, Yoon held a series of senior leadership positions before becoming global CEO overseeing business operations and global expansion.

He subsequently served as Co-CEO of HYBE America when HYBE was accelerating efforts to localize the K-pop business model in the U.S. market.

Following his time at HYBE, Yoon has continued to work as a strategic investor, focusing on businesses and markets where he can play a hands-on role in building and accelerating growth.

His focus has been on developing fandom economies–business models built around the relationships among artists, content, experiences and fan communities.

One partner brings market-building capabilities and a deeply rooted entertainment ecosystem in Vietnam, while the other contributes experience in developing fandom-based entertainment models internationally.

Together, these capabilities form the foundation of the new venture.

“DatVietVAC and LSH Global desire to contribute to building Vietnam’s internal capabilities in the cultural industries – capabilities that can independently create talent, develop IP, build markets and gradually bring those values to the world,” Thanh said.

“When these internal capabilities become strong enough, Vietnam’s cultural industries will not only grow in scale, but will also be able to stand on their own and compete through values created by Vietnamese people.”

DatVietVAC’s artist management and commercial exploitation business has significant room for growth. Photo: DatVietVAC

No ready-made formula for Vietnam

A central principle of the joint venture is that it will not simply copy entertainment models that have succeeded in other markets.

Instead, international experience will be distilled and redesigned for Vietnam.

LSH Global’s international expertise will be combined with DatVietVAC’s local capabilities to develop models suited to Vietnamese audience behavior, culture and market characteristics.

Under this approach, the venture will focus on talent discovery and development, artist building, IP creation and the formation of fan communities.

These assets, in turn, will serve as the foundation for new business models across the entertainment value chain.

Yoon’s experience with the development of Weverse at HYBE provides a notable example of how entertainment companies can build direct relationships with fandoms, connecting content and communities with commerce and experiences.

“I believe Vietnam does not need to become a version of any other market,” Yoon said.

“Vietnam has its own culture, talent and a distinct generation of audiences.

“What we want to build with DatVietVAC is a model that can capitalize on those strengths while learning from proven international experience.

“If we can achieve that, we will not only create artists and IP that succeed in Vietnam, but also generate value capable of reaching audiences around the world.”

In the long term, the joint venture aims to help position Vietnam among the region’s leading countries in entertainment IP development.

The ambition extends beyond creating a handful of successful artists or projects.

It is centered on building a repeatable capability: identifying talent, developing artists, creating IP, building fandoms and generating new business models around those assets.

This foundation could enable Vietnamese entertainment properties to move beyond the domestic market and expand into regional and international markets.

DatVietVAC and LSH Global are currently advancing the necessary preparations for the joint venture to begin operations.

Source: Tuoi Tre

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