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Korea Herald
5 days ago
- Entertainment
- Korea Herald
K-pop association suggests turning Assembly building into K-pop venue
Amid growing demands over K-pop arena, KEPA suggest several methods The Korea Entertainment Producer's Association has urged the South Korean government to address the shortage of concert venues by suggesting sites for new K-pop concert halls — including the National Assembly building. In an official statement released Saturday, KEPA emphasized the urgent need for a large-scale, K-pop-dedicated concert arena and broader infrastructure development. 'K-pop has become a leading (form of) global cultural content representing Korea, but the domestic concert infrastructure falls short of supporting this rapidly growing industry,' the association stated. KEPA pointed out that domestic facilities significantly lag in both size and technical capabilities compared to major venues abroad. Most large K-pop concerts are held in Seoul Olympic Stadium, Seoul World Cup Stadium, Gocheok Sky Dome and KSPO Dome, but these facilities face limitations due to ongoing renovations, grass maintenance, and complex booking processes. As its first proposal, KEPA called for the construction of a large-scale K-pop Arena. If the relocation of the National Assembly to Sejong City becomes finalized, the vacated site in Seoul could be developed into a world-class K-pop venue, the association suggested. KEPA also proposed building a 30,000-seat indoor concert hall at the 88 Lawn Field and surrounding land in Olympic Park. Since KSPO Dome and SK Handball Stadium — both frequently used for K-pop concerts — are located within the park, the plan would create a large-scale entertainment complex in the area. As a short-term solution, the association proposed introducing a 'performance quota system," which would secure access to major sports facilities in Seoul and the surrounding metropolitan area. There are scheduling difficulties in securing cultural events at Seoul World Cup Stadium and other major sports venues, as professional soccer matches and national team games are prioritized under current municipal ordinances,' the statement noted. By revising local ordinances, this system would guarantee a certain number of cultural events at major sports venues, it added. KEPA also called for sustainable policy support to strengthen the industry's competitiveness. This includes expanding support for content production, implementing financial policies, offering tax benefits for small and mid-sized agencies and launching systematic development programs. KEPA stressed that the K-pop fandom economy generates multi-trillion-won economic benefits annually, contributing significantly to tourism and local economies. 'These outcomes go beyond entertainment. They are key drivers of national soft power and international competitiveness,' the statement concluded, reinforcing the need for infrastructure investment. Founded in 1992, the Korea Entertainment Producer's Association is one of the country's leading organizations representing entertainment producers. Since 1995, it has hosted the Dream Concert, one of K-pop's most iconic joint performances.
South China Morning Post
14-05-2025
- Entertainment
- South China Morning Post
Soft power at centre of China-South Korea thaw, with benefits for K-pop fans and tourism
Ties between China and South Korea are on the mend. Though a much-publicised concert by boy band Epex – the first K-pop show in mainland China in nine years, scheduled for the end of May – has been delayed, the long-running K-pop event Dream Concert is set to be held in mainland China for the first time later this year. The annual concert, which has been organised by the Korea Entertainment Producers Association since 1995, is scheduled to take place in September at the 40,000-seat Sanya Sports Centre in Hainan province. As big cultural events resume and travel between the two countries becomes easier, soft power is at the centre of the rebuilding of China-South Korea relations. Although people in both countries welcome a thaw in relations, some note that cultural appeal alone may not be enough to change how the two nations view each K-drama When Life Gives You Tangerines gained significant traction in mainland China despite Netflix, the platform that hosts it, being blocked. Photo: Netflix Tensions between the two countries rose in 2016 when following South Korea's deployment of the American Terminal High Altitude Area Defense missile system (THAAD). In response, China imposed an unofficial ban on Korean cultural imports.
Newsweek
02-05-2025
- Entertainment
- Newsweek
K-Pop Is Returning to China
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A K-pop group is set to perform in mainland China later this month after a nine-year hiatus, sparking renewed discussions over potentially warming ties between Beijing and its U.S.-allied neighbor. Newsweek contacted the Chinese Foreign Ministry and South Korean Embassy in the U.S. for comment via email. Why It Matters China restricted South Korean pop culture, including K-pop groups, in 2016 after the U.S. deployed the Terminal High Altitude Area Defense (THAAD) antimissile system on South Korean soil—a move the defense treaty allies said was necessary to counter North Korea's expanding ballistic missile program. China opposed the deployment, viewing it as a threat on its doorstep. Almost a decade later, Beijing is seeking to repair ties with U.S.-aligned nations amid doubts over U.S. President Donald Trump's tumultuous tariff rollout and wavering remarks on security commitments in Europe and East Asia. South Korean K-pop group Epex posing on the red carpet of the 2022 Dream Concert at Jamsil Stadium in Seoul on June 18, 2022. South Korean K-pop group Epex posing on the red carpet of the 2022 Dream Concert at Jamsil Stadium in Seoul on June 18, 2022. Jung Yeon-je/AFP via Getty Images What To Know Although non-Korean members of K-pop groups have continued to appear on Chinese television, the May 31 performance of Epex in the southern city of Fuzhou—announced on Tuesday by C9 Entertainment, the group's agency—marks a notable shift. The industry hopes the show will spark a revival of the "Korean Wave" in the 1.4-billion-strong Chinese market. The announcement follows last year's visit to South Korea by China's No. 2 official, Premier Li Qiang—the first visit by a Chinese premier since the controversy over the THAAD missile defense system erupted. However, the news met a mixed reception among Chinese netizens, many of whom voiced lingering resentment, either over the continued presence of the antimissile system or the "sissy" image of K-pop boy bands influencing Chinese youth. "Have we given up? THAAD hasn't been withdrawn—it's actually increased—and we were the ones who gave in to South Korea," one user wrote on the microblogging platform Weibo. "Doesn't our country realize that South Korea will never abandon the U.S. to choose us?" another said. A commenter added, "Groups with Chinese members can be considered; all others are out of the question." What People Are Saying Guo Jiakun, a Chinese Foreign Ministry spokesperson, told reporters on Tuesday: "I'm not familiar with the specifics of the performance you mentioned. Let me stress that we are open to useful cultural exchanges and cooperation with the [Republic of Korea]. We hope that the ROK will work with China to advance bilateral exchanges and cooperation in various fields." What Happens Next It remains to be seen whether large-scale performances by K-pop idols and South Korean artists from other genres will gain traction in China. "Around the beginning of this year, there were rumors that the ban on the South Korean entertainment industry would be eased around May or June," Yonhap News quoted an experienced music industry manager as saying. "There's now an atmosphere of allowing smaller performances at venues in regional cities with less than 2,000 seats. But for major artists, we'll have to wait and see if large venues will open up."
CNBC
02-05-2025
- Business
- CNBC
China looks set to turn to a tariff-proof sector as U.S. trade war bites — K-pop
Locked in a trade war with the United States and struggling with weak domestic consumption, China looks set to make a U-turn on an unlikely sector: K-pop. It was announced on April 28 that K-pop group Epex will be performing in Fuzhou, Fujian, province on May 31 — the first time an all-Korean idol group has held a concert in mainland China since 2016. On top of that, the large-scale annual Dream Concert — South Korea's longest-running K-pop event — has reportedly been scheduled to take place on Sept. 26 at a 40,000-seat stadium in Hainan province, the Korea Entertainment Producers' Association said on April 30. Those developments could signal an easing of China's unofficial ban on K-pop acts on the mainland after South Korea announced the deployment of the Terminal High Altitude Air Defense missile defense system in 2016, with China saying the system was aimed at constraining China's power in the region, among other reasons. The about-face on K-pop represents a "structural turning point" for the sector, according to Oh Jiwoo, research analyst at CGS International Securities Hong Kong. Oh told CNBC "this policy shift is part of China's broader strategy to revitalize domestic demand amid a prolonged consumption downturn." She noted that consumption contributed nearly 70% to China's gross domestic product growth in 2018, but the share has dropped to below 30% in recent years, with the country's consumer price index growth hovering near zero. "In response, the government has started promoting cultural events—including foreign pop concerts—to stimulate discretionary spending in tourism, hospitality, and local commerce," she added. On April 25, China's ministry of culture and tourism released a notice calling for the promotion of cultural events, including concerts and music festivals. Oh pointed out that China is South Korea's third-largest album export market after Japan and the U.S., and the second-biggest music market in Asia, "underscoring its strategic importance despite years of restrictions." Also helping the case for K-pop in China is the fact that the sector is seen as tariff-proof. Shinhan Securities' Ji In-hae wrote in a April 14 note that "although the market is very volatile due to the tariffs, [entertainment and media are] not affected by the tariffs at all, while the possibility of China's opening is valid."CGS' Oh said, "Core revenue drivers—streaming, concerts, and fan content—are digital and intangible, making them immune to cross-border tariffs." Even if fans buy albums and merchandise, tariff exposure is "negligible," given low unit prices and loyal fan demand. "In contrast with semiconductors or autos, where global trade policy directly impacts supply chains and pricing, K-pop consumption is far less sensitive to protectionist measures," she added. Semiconductors and automobiles are two of South Korea's key exports. Last month, South Korea announced a $23 billion support package for its semiconductor sector in light of uncertainty around U.S. tariffs. The Trump administration has imposed a 25% levy on all vehicles shipped to the United States, and another 25% on steel and aluminum imports. South Korea's Hyundai and Kia are among the top eight bestselling brands in the U.S, according to car marketplace Carpro. The country is also the fourth-largest exporter of steel to the U.S. in 2024, according to the International Trade Administration under the U.S. Commerce Department. But China's softening stance on K-pop has a diplomatic dimension that goes beyond the desire to increase domestic consumption, analysts say. Citi analysts John Wu and Alicia Yap said in an April 4 note that China may seek to restore ties with neighboring countries, including South Korea, in light of its own economic challenges. Cultural diplomacy could emerge as a key starting point, they said, leading to the easing of informal bans on South Korean content and resumption of K-pop's fan-driven revenue streams in the region. The sector has been described by them as "a long-term beneficiary of [a] changing world order." CGS' Oh echoes that view, telling CNBC that "the reintroduction of K-pop could help diversify cultural offerings and foster regional goodwill."She added China appears to be warming ties with South Korea while placing temporary limits on certain Western content, including Hollywood films. Oh said the shift not only restores access to a previously restricted fan economy, but also presents an opportunity to deepen cultural engagement in Asia, which will lay the groundwork for longer-term structural growth in the region. The developments could be good news for K-pop stocks. The earnings and share price of K-pop's four largest companies — known as the "Big Four" and all publicly listed — took a beating in 2024. That's despite the legions of adoring fans, multi-city concerts and billions of YouTube streams seen worldwide. But a rebound seems to be taking place in the first few months of 2025, with three of the Big Four companies registering substantial year-to-date increases. China's concert market would provide a substantial boost in 2025, should the country lift the unofficial ban on South Korean artistes. CGS' Joshua Kim wrote in a Feb. 10 note that the Chinese concert market size increased from $2.9 billion in 2019 to $8 billion in 2024, growing 189% during the period."Hence, if China lifts the ban on Korean artistes, we expect China to account for more than 25% of concert revenue in 2025, exceeding the contribution in 2016," he said. Morgan Stanley equity analyst Seyon Park said she would consider a China reopening a "potentially powerful catalyst" that could drive earnings and fair value estimates significantly higher, though the reopening is likely to be gradual. In Oh's view, the approval for Epex's concert is a "policy test case" that could pave the way for larger acts. She noted that smaller fan events by girl groups Twice and IVE in Shanghai could indicate China is starting with mid-tier acts, before progressing to broader re-engagement. Epex is a relatively rookie group in the industry, having debuted in 2021, but Oh said that these are not isolated approvals, instead, they are a broader transition toward high-capacity, high-visibility events. "With HYBE, JYP, SM, and YG already positioned for global arena tours, we expect Korean agencies to move quickly in monetizing demand once restrictions are fully lifted. These developments reinforce the case for a multi-phase reopening scenario and present a strong earnings catalyst for the Big Four," she said. Or to quote a 2009 song from YG Entertainment's 2NE1, K-pop is telling China, "it's been a long time coming, but we're here now."
