JYP Entertainment has long been regarded as one of South Korea's most successful entertainment agencies and represents some of the country's biggest stars. While 2013 was not necessarily a bad year for the company, compared to the other leading Korean labels SM, YG, and CUBE, it would appear that CEO Park Jin Young is struggling to stay in the top ranks.

The past year was a relatively slow one for JYP Entertainment as far as new music releases are concerned, but it did offer some fresh talent despite a handful of setbacks. A minor legal issue regarding alleged embezzling and some 2PM T-shirts, an unintentional hiatus for the Wonder Girls, and a series of injuries for many of the agency's stars made competing with the near endless stream of single and album releases from other labels a difficult task to keep up with.

There were a few rays of sunshine in the mix, however - Suzy's acting career taking off, Sunmi's hit "24 Hours," and another all-around good year for moneymakers 2PM. JYP also announced that fans would gradually begin seeing more variety in the songs released by the agency's artists as projects that utilize songwriters and producers other than Park Jin Young are garnering more focus.

But will that be enough to keep the company relevant in the new year?

With a whole host of rookie idols set to make debuts in 2014, JYP Entertainment has decided to jump on the bandwagon and try their luck right out of the starting gate with a new K-Pop boy band named GOT7.

The seven-member hip-hop boy group is set to officially debut on January 15 with the release of their first music video and will hold their inaugural stage performance on M!Countdown the following day. GOT7's first mini-album is scheduled to drop January 20.

A new year, a new group, a new hope for JYP Entertainment - or is it?

It is hard to get immediately excited for GOT7 when the whole process comes off as a bit clumsy and desperate.

Back in November, JYP revealed a different boy band by the name of 5LIVE would soon debut and they recorded a song for the OST to the currently airing TV drama Pretty Man. An official Facebook page has been updating potential fans with a few details and pictures of the members, but very little information as to how the debut plans were progressing.

Fast forward to December 31 and there is a new Facebook page and fan cafe created for GOT7, a group containing a handful of members originally revealed as potential members of 5LIVE plus JB and JR of JJ Project, Park Jin Young's failed duo from 2012.

Not only do the wishy-washy nature of the debut plans makes it difficult for potential fans to lend their support, but now that the JJ Project guys are officially involved, many have their fingers crossed that GOT7's music will not be anything like "Bounce."

On January 3 JYPE will begin gradually revealing details about the group members, but what is known so far is that the GOT7 will represent a variety of nationalities. The group will also showcase a revolutionary performance style that is heavily influenced by both b-boys and the martial arts.

5LIVE, now down to five confirmed members, and a new 6-member girl group are also in the new year plans for JYP Entertainment, raising another concern for the company in 2014 - that's a lot of rookie idols to keep track of!

Keeping the two boy bands feeling distinctive will require a drastic contrast in sound, style, and approach, suggesting Park Jin Young is banking on recreating the success of 2AM and 2PM, originally planned as one big group but split into dance-pop and ballad-singing boy groups shortly before debut.

But with so many other rookie groups hoping to gain footing in 2014, plus the return of 2013's new faces and countless other well-established artists, it will take more than exceptional performance skills and attractive faces to sell records. It ultimately, as it should, comes down to the music - and if the new JYP groups are given the right songs at the right time, there is no saying what kind of success they will achieve.

Do you think the three new idol groups have what it takes to bring a new era of success to JYP Entertainment? Share your thoughts in the comments section below.

Check out the official Facebook pages for GOT7 and 5LIVE and stay tuned for GOT7's debut music video release on January 15!