Latest news with #LeeDong-hwan
Express Tribune
24 minutes ago
- Entertainment
- Express Tribune
As BTS completes 12 years, fans gear up for return
BTS has been on a self-described hiatus since 2022. Photo: File Dressed in purple, thousands of BTS fans marked the K-pop supergroup's 12th anniversary Friday, with all but one member now finished with their military service and a return to performance likely imminent, reported AFP. The septuplet BTS, South Korea's most lucrative musical act, has been on a self-described hiatus since 2022 while its members separately completed their military service, which is mandatory in the South for all men under 30. This week, four members of the band wrapped up their army duties and reentered civilian life, with the final member SUGA, who was doing alternative service for health reasons, due to be released next week. Thousands of fans, many wearing purple outfits and carrying light sticks, started gathering Friday for the group's annual FESTA celebration, which marks the anniversary of their debut. The main event is being held in a massive event space in Goyang, just outside of Seoul, with local authorities saying they had set up "photo spots" across the entire city, "turning the whole city into an extended festival stage". "We warmly welcome ARMY fans from around the world who will be visiting the city," said mayor Lee Dong-hwan. Last year's FESTA, held outdoors in scorching heat with midday temperatures reaching 32 degrees Celsius, drew criticism from fans after dozens reportedly suffered from heat-related illnesses. "I'm so glad this time the FESTA is held indoors," Maria Wojcik, a 28-year-old fan from Poland, told AFP. Fans have also been gathering in Seoul outside the group's agency HYBE's headquarters, which has been wrapped with the slogan "WE ARE BACK". With the fan frenzy in full swing, a Chinese woman was briefly detained, police said Thursday, for a possible attempted break-in at BTS singer Jungkook's luxury apartment in Seoul, just hours after he was released from military service. HYBE happy BTS member J-Hope is set to hold a concert at a nearby venue on the day of the FESTA celebration, and many fans are hoping the recently discharged members will join him on stage for a special performance. The fans may be excited for a reunion, but no one is more thrilled by the pending return to performance of BTS than their agency, HYBE, which stands to see a sharp rebound in earnings. Before their military service, HYBE's CEO Lee Jae-sang said that the band's contribution to the company's revenue was exactly 95 per cent, adding that "as of 2024, it is estimated to be under 20 per cent". But analysts are predicting a surge in profits with the group's return. "HYBE recorded its first earnings decline during BTS's military service period, but with the group's full return, profits are expected to grow by around 150 per cent over the next two years through 2026," said Lee Ki-hoon, an analyst at Hana Securities. "With BTS resuming a large-scale world tour, HYBE's operating profit is projected to rise 71 per cent on-year to 462 billion won ($340 million) next year," Hwang Ji-won from IM Securities told AFP. The comeback also coincides with signs that China's unofficial ban on Korean pop culture — imposed in retaliation after Seoul allowed deployment of a US-made THAAD missile defence system — may be easing under South Korea's new administration. South Korea's new President Lee Jae-myung took office after a snap election last week, promising a more pragmatic diplomacy than his hawkish predecessor. If so, experts say concert attendance is expected to soar, with China being a key market for K-pop. "Considering the scale of the tour that was cancelled in 2020 due to COVID-19 and the pent-up demand, the group (BTS) is expected to draw at least 3 million concertgoers," added Hwang.
Yahoo
a day ago
- Entertainment
- Yahoo
BTS fans gather for K-pop supergroup's annual celebration
Dressed in purple, thousands of BTS fans marked the K-pop supergroup's 12th anniversary Friday, with all but one member now finished with their military service and a return to performance likely imminent. The septuplet BTS, South Korea's most lucrative musical act, has been on a self-described hiatus since 2022 while its members separately completed their military service, which is mandatory in the South for all men under 30. This week, four members of the band wrapped up their army duties and reentered civilian life, with the final member SUGA, who was doing alternative service for health reasons, due to be released next week. Thousands of fans, many wearing purple outfits and carrying light sticks, started gathering Friday for the group's annual FESTA celebration which marks the anniversary of their debut. The main event is being held in a massive event space in Goyang, just outside of Seoul, with local authorities saying they had set up "photo spots" across the entire city, "turning the whole city into an extended festival stage". "We warmly welcome ARMY fans from around the world who will be visiting the city," said mayor Lee Dong-hwan. Last year's FESTA, held outdoors in scorching heat with midday temperatures reaching 32 degrees Celsius, drew criticism from fans after dozens reportedly suffered from heat-related illnesses. "I'm so glad this time the FESTA is held indoors," Maria Wojcik, a 28-year-old fan from Poland, told AFP. Fans have also been gathering in Seoul outside the group's agency HYBE's headquarters, which has been wrapped with the slogan "WE ARE BACK". With the fan frenzy in full swing, a Chinese woman was briefly detained, police said Thursday, for a possible attempted break-in at BTS singer Jungkook's luxury apartment in Seoul, just hours after he was released from military service. - HYBE happy - BTS member J-Hope is set to hold a concert at a nearby venue on the day of the FESTA celebration, and many fans are hoping the recently discharged members will join him on stage for a special performance. The fans may be excited for a reunion, but no one is more thrilled by the pending return to performance of BTS than their agency, HYBE, which stands to see a sharp rebound in earnings. Before their military service, HYBE's CEO Lee Jae-sang said that the band's contribution to the company's revenue was exactly 95 percent, adding that "as of 2024, it is estimated to be under 20 percent". But analysts are predicting a surge in profits with the group's return. "HYBE recorded its first earnings decline during BTS's military service period, but with the group's full return, profits are expected to grow by around 150 percent over the next two years through 2026," said Lee Ki-hoon, an analyst at Hana Securities. "With BTS resuming a large-scale world tour, HYBE's operating profit is projected to rise 71 percent on-year to 462 billion won ($340 million) next year," Hwang Ji-won from IM Securities told AFP. The comeback also coincides with signs that China's unofficial ban on Korean pop culture -- imposed in retaliation after Seoul allowed deployment of a US-made THAAD missile defence system -- may be easing under South Korea's new administration. South Korea's new President Lee Jae-myung took office after a snap election last week, promising a more pragmatic diplomacy than his hawkish predecessor. If so, experts say concert attendance is expected to soar, with China being a key market for K-pop. "Considering the scale of the tour that was cancelled in 2020 due to COVID-19 and the pent-up demand, the group (BTS) is expected to draw at least 3 million concertgoers," added Hwang. kjk-hs/ceb/djw
New Straits Times
2 days ago
- Entertainment
- New Straits Times
#Showbiz: BTS fans gather for K-pop supergroup's annual celebration
SEOUL: Thousands of fans of BTS will Friday mark the K-pop supergroup's anniversary, with all but one member now finished with their mandatory military service and a return to performance likely imminent. The septuplet BTS, South Korea's most lucrative musical act, has been on a self-described hiatus since 2022 while its members separately completed their military service, which is mandatory in the South for all men under 30. Thousands of fans of the K-pop supergroup have been gathering in Seoul this week, as four members of the band wrapped up their army duties and reentered civilian life. A final member SUGA, who was doing alternative service for health reasons, is due to be released next week. The group will also hold its annual FESTA celebration Friday, which marks the anniversary of their debut and attracts thousands of fans, collectively known as ARMY, to South Korea. The main event is being held in a massive event space in Goyang, just outside of Seoul, with local authorities saying they had set up "photo spots" across the entire city, "turning the whole city into an extended festival stage." "We warmly welcome ARMY fans from around the world who will be visiting the city," said mayor Lee Dong-hwan. Fans have also been gathering in Seoul outside the group's agency HYBE's headquarters, which have been wrapped with the slogan "WE ARE BACK." With the fan frenzy in full swing, a Chinese woman was briefly detained, police said Thursday, for a possible attempted break in at BTS singer Jungkook's luxury apartment in Seoul, just hours after he was released from military service. The fans may be excited for a reunion, but no one is more thrilled by the pending return to performance of BTS than their agency, HYBE, which stands to see a sharp rebound in earnings. Before their military service, HYBE's CEO Lee Jae-sang said that the band's contribution to the company's revenue was exactly 95 per cent, adding that "as of 2024, it is estimated to be under 20 per cent." But analysts are predicting a surge in profits with the group's return. "HYBE recorded its first earnings decline during BTS's military service period, but with the group's full return, profits are expected to grow by around 150 per cent over the next two years through 2026," said Lee Ki-hoon, an analyst at Hana Securities. "With BTS resuming a large-scale world tour, HYBE's operating profit is projected to rise 71 per cent on-year to 462 billion won (US$340 million) next year," Hwang Ji-won from IM Securities told AFP. The comeback also coincides with signs that China's unofficial ban on Korean pop culture – imposed in retaliation after Seoul allowed deployment of a US-made THAAD missile defence system – may be easing under South Korea's new administration. South Korea's new President Lee Jae-myung took office in a snap election last week, promising a more pragmatic diplomacy than his hawkish predecessor. If so, experts say, with China being a key market for K-pop, concert attendance is expected to soar. "Considering the scale of the tour that was cancelled in 2020 due to COVID-19 and the pent-up demand, the group (BTS) is expected to draw at least 3 million concertgoers," added Hwang.
France 24
2 days ago
- Entertainment
- France 24
BTS fans gather for K-pop supergroup's annual celebration
The septuplet BTS, South Korea's most lucrative musical act, has been on a self-described hiatus since 2022 while its members separately completed their military service, which is mandatory in the South for all men under 30. Thousands of fans of the K-pop supergroup have been gathering in Seoul this week, as four members of the band wrapped up their army duties and reentered civilian life. A final member SUGA, who was doing alternative service for health reasons, is due to be released next week. The group will also hold its annual FESTA celebration Friday, which marks the anniversary of their debut and attracts thousands of fans, collectively known as ARMY, to South Korea. The main event is being held in a massive event space in Goyang, just outside of Seoul, with local authorities saying they had set up "photo spots" across the entire city, "turning the whole city into an extended festival stage". "We warmly welcome ARMY fans from around the world who will be visiting the city," said mayor Lee Dong-hwan. Fans have also been gathering in Seoul outside the group's agency HYBE's headquarters, which have been wrapped with the slogan "WE ARE BACK". With the fan frenzy in full swing, a Chinese woman was briefly detained, police said Thursday, for a possible attempted break in at BTS singer Jungkook's luxury apartment in Seoul, just hours after he was released from military service. - HYBE happy - The fans may be excited for a reunion, but no one is more thrilled by the pending return to performance of BTS than their agency, HYBE, which stands to see a sharp rebound in earnings. Before their military service, HYBE's CEO Lee Jae-sang said that the band's contribution to the company's revenue was exactly 95 percent, adding that "as of 2024, it is estimated to be under 20 percent". But analysts are predicting a surge in profits with the group's return. "HYBE recorded its first earnings decline during BTS's military service period, but with the group's full return, profits are expected to grow by around 150 percent over the next two years through 2026," said Lee Ki-hoon, an analyst at Hana Securities. "With BTS resuming a large-scale world tour, HYBE's operating profit is projected to rise 71 percent on-year to 462 billion won ($340 million) next year," Hwang Ji-won from IM Securities told AFP. The comeback also coincides with signs that China's unofficial ban on Korean pop culture -- imposed in retaliation after Seoul allowed deployment of a US-made THAAD missile defence system -- may be easing under South Korea's new administration. South Korea's new President Lee Jae-myung took office in a snap election last week, promising a more pragmatic diplomacy than his hawkish predecessor. If so, experts say, with China being a key market for K-pop, concert attendance is expected to soar. "Considering the scale of the tour that was cancelled in 2020 due to COVID-19 and the pent-up demand, the group (BTS) is expected to draw at least 3 million concertgoers," added Hwang.
Korea Herald
10-04-2025
- Business
- Korea Herald
Mayor Lee Dong-hwan envisions thriving, livable future for Goyang
'I want the 1.08 million citizens of Goyang Special City to enjoy prosperous lives and have full access to cultural experiences. That is the very reason for my position and the value I uphold.' Since his election in 2022, Goyang Special City Mayor Lee Dong-hwan has been pursuing policies aimed at transforming Goyang into a 'self-sufficient city' to enhance citizens' economic well-being. In the vanguard of these efforts is the Goyang Free Economic Zone (GFEZ), designed as 'a future industrial ecosystem for Korea's new economy and a global high-tech business hub.' Covering 17 square kilometers in the Janghang-dong, Daehwa-dong and Songpo-dong areas, the project aims to attract strategic industries such as biotechnology and precision medicine, smart mobility, K-culture and MICE services from both local and overseas sources. The city held a public opinion gathering process through April 11 for the additional designation of a Gyeonggi Free Economic Zone. Goyang will now proceed with the necessary administrative steps in coordination with Gyeonggi Province to secure the final designation. Lee is also actively promoting various cultural and artistic policies to enhance citizens' daily quality of life. The Korea Herald sat down with Lee on April 1 in the mayor's office at Goyang City Hall to discuss these developments. Korea Herald: Why should Goyang be designated as a free economic zone? Lee: Amid the ongoing global economic uncertainty, it is crucial for Korea to take action against global risks and strengthen its industrial competitiveness by fostering new industries and attracting foreign investment. Especially, we need to adopt a strategic policy of designating free economic zones, or FEZ, in regions favored by foreign investors — areas with high productivity — so we can secure our leadership in future strategic sectors. The capital region, as the economic and industrial heart of Northeast Asia, boasts high investment competitiveness. In 2024, the capital region accounted for $17.56 billion in foreign direct investment, which is 3.2 times more than regions outside the capital at $5.46 billion, proving its appeal to foreign investors. In the capital area, Goyang is the best candidate for an FEZ. As the only designated special city in northern Gyeonggi Province and a pivotal city in the country's northwest, Goyang offers proximity to Seoul and Incheon, excellent access to international airports and ports, a well-developed transportation network and rich human resources — making it an ideal environment for domestic and international businesses. Despite its potential, overlapping regulations have hindered industrial growth and the attraction of investment. Designating Goyang as an FEZ is the most effective way to boost both regional and national competitiveness, leveraging its strong industrial foundation and demand for foreign investment. The GFEZ will serve as a bridgehead for northern Gyeonggi Province's development and create a virtuous cycle of shared growth, spreading its industrial impact across Korea. Ultimately, it will greatly contribute to strengthening Korea's competitiveness in the face of global economic challenges. The GFEZ is not merely a regional development project — it is a vital initiative for ensuring sustainable economic growth for Korea's future. KH: What economic impact is expected from the FEZ designation? Lee: Once designated, the GFEZ will foster a favorable business ecosystem by easing regulations, offering tax incentives, and attracting global capital and companies. High-value industries such as bio and precision medicine, urban air mobility, AI and robotics, K-culture and MICE will create a sustainable, high-profit business model. The most tangible change for citizens will be job opportunities. As global companies, research institutes and startups move into the zone, the number of high-quality, stable jobs will increase significantly. Currently, many Goyang citizens endure long commutes to Seoul and other areas. By creating jobs locally through the GFEZ and attracting businesses, citizens will be able to work and spend their leisure time within Goyang. This will reduce commuting time, improve quality of life, stimulate local consumption and energize the local economy. Increased business activity is also expected to generate added value and boost tax revenue. As Goyang attracts more companies and expands investment, the city's fiscal foundation will be strengthened, enabling greater investment in infrastructure that enhances citizens' quality of life — such as transportation, education, culture and welfare. Ultimately, the designation of a free economic zone will lead to tangible improvements in the daily lives of individual residents. GFEZ will become a new growth engine, revitalizing both the regional and national economies. It will create more jobs, generate added value, and increase tax revenue, enabling Goyang to leap forward as a 'self-sufficient city' with a well-balanced infrastructure of jobs, housing and welfare. KH: What has been done so far to secure the designation? Lee: Since being selected as the first candidate site for an FEZ in northern Gyeonggi Province in November 2022, we've been fully committed to securing the final designation. Working with Gyeonggi Province, we completed a development study incorporating Goyang's excellent location and potential, and are steadily progressing with the remaining steps. Recognizing that securing investment is key, we adopted a two-track strategy early on — pursuing both corporate partnerships and investment simultaneously. Through active sales pitches to domestic and foreign companies and institutions, we have signed 74 MOUs and 91 letters of intent, securing approximately 6.8 trillion won ($4.6 billion) in investment so far, with growing interest from foreign investors. Notably, in addition to the investment from foreign companies such as the Boston-based biotech firm Ingenia Therapeutics, the Luxembourg Institute of Health — ranked among the top 15 research institutions globally — plans to open its Korean branch in Goyang this year. This is the first time Gyeonggi Province has attracted a foreign public institution, proving Goyang's global competitiveness. Recently, we also signed an MOU with Korea McNulty, a leading company in the domestic coffee industry, to collaborate on the FEZ designation process and boost the coffee industry. Goyang will continue to meet with more companies and investors directly, promoting our locational benefits, industrial potential and strategic advantages, and will ultimately strengthen the investment base to achieve our goal — designation as an FEZ. KH: What's next before the final designation? Lee: Within the first half of this year, we plan to apply for FEZ designation following expert consultations. Next, we will consult with the Ministry of Land, Infrastructure and Transport and other relevant government agencies, and the city plans to thoroughly prepare in advance for a range of impact assessments. Efforts to attract investment will continue, as it is critical to secure corporate demand. In particular, Goyang is actively working to attract foreign schools as they are a key component in creating a livable environment for foreign investors and their families. Schools that have signed MOUs include the King's College School and the University of Birmingham in the UK, Lutheran High School and Drexel University College of Medicine in the US, Global Schools Foundation and Nanyang Technological University in Singapore, and Charlton Brown in Australia, creating a foundation for establishing such institutions in our city. We'll continue building partnerships to attract more international educational institutions. The GFEZ is not just a development project. It's an essential step for nurturing future high-tech industries, enhancing Korea's global competitiveness, and transforming Goyang into an international city. We will do our utmost to attract world-class businesses and talent by improving the living and investment environment. Most importantly, public support is growing. In a public survey of 1,000 Goyang residents in December 2023, 89 percent said the FEZ was necessary, and 92.4 percent said it would benefit the local economy. To meet these expectations, we will prepare thoroughly and achieve the final designation. KH: Let's switch topics. What are Goyang's strengths and strategies in becoming a hub for global cultural performances? Lee: Goyang has the optimal conditions for hosting large-scale concerts and is actively implementing a systematic strategy to become a global performance hub. We have world-class infrastructure for a wide range of international events and large-scale performances, including the Goyang Sports Complex, which can hold over 40,000 people. We also have KINTEX, the largest exhibition and convention center in Korea, and Goyang Aram Nuri Arts Center, equipped with world-class acoustics. Our geographic location is also advantageous — close to Seoul, Incheon Airport and Gimpo Airport, with convenient access via Subway Line No. 3, GTX-A and major expressways — making it easy for both domestic and international audiences and artists. Based on these strengths, Goyang has actively pursued and attracted large-scale performances. We signed an MOU with global promoter Live Nation Korea, collaborated with major event organizers and implemented a unique one-stop administrative support system to streamline the hosting process. As a result, Goyang successfully hosted major concerts, including Kanye West's listening party last year and G-Dragon's world tour in March. Upcoming events include global artists like Blackpink, Coldplay and Oasis. Goyang Aram Nuri Arts Center has also seen tremendous demand, with performances by world-renowned artists — Jo Sumi, Chung Myung-whun and the Tokyo Philharmonic, and Cho Seong-Jin — which sold out immediately. Based on its excellent infrastructure, location and strategic edge, Goyang has firmly positioned itself as Korea's leading city for performances, continually attracting world-class shows and cultural events. KH: What are Goyang's plans to build a global cultural brand? Lee: I believe culture and the arts have the power to transform Goyang's future and enrich our citizens' lives. The performance industry boosts a city's brand value and revitalizes local economies through tourism, consumption and content creation. We will continue to upgrade our performance facilities and improve the surrounding environment to enhance our event-friendly infrastructure while developing and attracting unique content. Our goal is to create a sustainable ecosystem where performances are not one-time events but drivers of long-term economic and cultural growth. We'll link performances with tourism, and collaborate with local businesses in lodging, dining and shopping to encourage visitors to stay longer. Goyang is also expanding international cultural exchanges. In February, we met with the Qatari Ambassador to Korea to discuss cultural and educational cooperation. As part of this, the Qatar Philharmonic Orchestra will perform at Goyang Aram Nuri Arts Center on Saturday. These international exchanges will open new doors for Goyang, fostering partnerships across the Middle East, Europe and beyond in fields such as education, tourism and business. Culture is a powerful asset for boosting a city's competitiveness. Goyang will continue to strengthen its world-class performance infrastructure, offer richer cultural experiences to citizens, and evolve into a "global performance hub visited by millions worldwide.'
