BTS hiatus deals another blow to S. Korean entertainment stocks

Singing the blues: BTS at the grammy awards in Las Vegas. As the pop group-triggered slump suggests, entertainment companies can be overly reliant on one act. — AFP

SEOUL: South Korean dramas and pop songs have never been more popular globally. In the stock market though, bullishness over the so-called South Korean wave is fading fast.

Superstar pop band BTS’s announcement of a hiatus is the latest bad news to hit the nation’s entertainment sector, causing a 25% plunge in the shares of its managing agency Hybe Co last Wednesday.