In one day, the group's label HYBE saw its market value decline $1.7 billion. The drastic plunge underscores how South Korea's bestselling boy band has become not only a cultural sensation but also a powerful stakeholder in South Korea's economy
The fallout from BTS’ announcement on Tuesday that the K-pop juggernaut would be taking a break as members explore solo careers was immediate and drastic.
In just a day, the stock price of the group’s management label, HYBE, plummeted 28% to 139,000 won ($108) — its lowest price since the company went public nearly two years ago, shedding $1.7 billion in market value. The stock price has barely moved since.
©2019 New York Times News Service