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NBC News
02-06-2025
- Entertainment
- NBC News
K-pop has been banned in China for almost a decade. Until now, maybe.
HONG KONG — The concert was set to be small but significant: the first by an all-Korean K-pop band in mainland China after an unofficial ban on such shows for almost a decade. That was exciting news for fans like Haerin Ouyang, a university student in the coastal Chinese city of Fuzhou, where the South Korean boy band Epex had been scheduled to perform on Saturday. But the show was canceled earlier this month, less than two weeks after it was announced, leaving Ouyang 'heartbroken.' 'The venue is only a 10-minute ride from my school, and it would have been fun to go with friends,' she said. C9 Entertainment, which manages Epex, cited 'local circumstances' in announcing the cancellation on May 9, dashing hopes that China was opening its doors to K-pop shows for the first time since 2016. The ban, which China has never officially acknowledged, began after South Korea announced the deployment of an American anti-ballistic missile defense system that China said was aimed at constraining its power in the region. Before the ban, China — the second-biggest music market in Asia after Japan — was one of the fastest-growing markets for K-pop and other South Korean pop culture, whose rapid rise in global popularity is known as the Korean Wave, or hallyu. 'In the K-content and K-pop markets as well, China's consumer power is regarded as top-tier,' said Kang Soyoung, a professor at Seoul Digital University. The China ban is estimated to have cost the South Korean economy almost $16 billion since 2016, she said. But the Epex concert's cancellation does not necessarily reflect the official position of the Chinese government, Kang cautioned, as China has been gradually reopening to South Korean culture after years of tension. While K-pop acts have been blocked, other South Korean bands have been allowed to play. In April, the South Korean hip-hop trio Homies became the first all-Korean act to perform in mainland China in eight years. A South Korea-based Korean American musician in a one-man indie rock band performed in the Chinese cities of Xi'an, Wuhan and Zhengzhou in late 2024 and early 2025. A large-scale K-pop joint concert is also scheduled to be held in September at a 40,000-seat stadium in the Chinese island province of Hainan. The Korea Entertainment Producers' Association, which announced the event in April, did not reply to an email asking whether that concert is still going ahead. Kang said she believed the hallyu ban would soon be lifted and the Hainan concert would 'proceed without issue.' There are also signs of growing business ties. Hybe, the South Korean entertainment company that manages the global K-pop sensation BTS, recently opened an office in Beijing, according to South Korean media. On Friday, China's Tencent Music was set to become the second-largest shareholder in the other major K-pop label, SM Entertainment, after Hybe said in a regulatory filing that it would sell Tencent its entire stake. 'It shows that there is a greater opportunity for collaboration between the two countries, especially in the entertainment industry,' said Ellen Kim, director of academic affairs at the Korea Economic Institute of America. 'It might be a starting point for industry-level cooperation that could open more doors between the two countries.' The diplomatic thaw extends beyond culture. In November, China said it would grant visa exemptions for South Korean visitors, and South Korea has said it will do the same for visitors from China. China's growing friendliness toward South Korea might be partly motivated by the unstable situation on the international stage, Kim said. Both countries face increasingly hostile and unpredictable U.S. trade policies under President Donald Trump. In addition, China is struggling with weak domestic consumption that would be aided by K-pop's high-spending fans. China has also been strengthening its own entertainment industry and has more confidence in it, Kang said, pointing to the record-breaking success this year of the Chinese film 'Ne Zha 2,' the world's highest-grossing animated film ever. 'It now has robust resilience against the 'invasion' of foreign content,' she said. China's potential thaw toward South Korean entertainment comes as it further restricts the number of Hollywood films allowed to be screened in its theaters in response to Trump's tariffs. China-South Korea ties could also get a boost from next week's South Korean presidential election. The front-runner, Lee Jae-myung, is considered friendlier to China than his predecessor. 'If he wins, it might be a matter of time that things will change, which will allow the Korean entertainers to come into the country and play their music,' Kim said.
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."
South China Morning Post
30-04-2025
- Entertainment
- South China Morning Post
Mainland China to host first K-pop concert since ‘K-wave ban' began in 2016
Nearly a decade after an unofficial ban on K-pop performances in mainland China was imposed, Beijing appears to be easing up on South Korea's cultural phenomenon. Advertisement A South Korean boy band, Epex, is now gearing up for a concert in Fuzhou in May, raising expectations that Beijing may ease restrictions on K-pop culture on the mainland, Yonhap News reports. The timing may be a coincidence, but it adds to growing evidence that China is seeking to improve relations with regional partners as countries grapple with increasingly hostile and unpredictable trade policies in the US. In March, trade chiefs from South Korea, China and Japan met in Seoul, where they renewed calls for an open, fair flow of goods and pledged to deepen economic ties. The concert, scheduled for May 31, marks the first performance in nine years in mainland China by an all-Korean K-pop group, Yonhap said. K-pop stars with foreign nationalities have occasionally appeared on Chinese television shows, it added. Epex will be the first all-Korean K-pop group to play in China since Beijing's so-called 'K-wave ban' in 2016. Photo: C9 Entertainment Epex's management, C9 Entertainment, did not immediately respond to a request for comment. China's Ministry of Culture and Tourism did not immediately respond to a faxed request for comment.
Straits Times
29-04-2025
- Entertainment
- Straits Times
China to host first all-Korean pop concert in nine years, Yonhap says
K-pop boy band Epex are scheduled to hold a concert in Fuzhou city on May 31. PHOTO: OFFICIALC9ENT/INSTAGRAM China to host first all-Korean pop concert in nine years, Yonhap says SEOUL - Nearly a decade after China imposed an unofficial ban on K-pop performances in the mainland, Beijing appears to be lowering one of the non-trade barriers that kept South Korea's cultural phenomenon out of the country. A South Korean boy band Epex are now gearing for a concert in China in May, raising expectations that Beijing may ease restrictions on K-pop culture in mainland, Yonhap News reported on April 29. The timing may be coincidental, but it adds to growing evidence that China is seeking to improve relations with regional partners as countries grapple with increasingly hostile and unpredictable trade policies under United States President Donald Trump. In March, trade chiefs of South Korea, China and Japan met in Seoul, where they renewed calls for an open, fair flow of goods and pledged to deepen economic ties. The concert by Epex, an eight-member boy band, is scheduled for May 31 in Fuzhou city in Fujian province. It will mark the first performance in nine years in mainland China by a K-pop group comprised entirely of South Korean nationals, Yonhap said. K-pop stars with foreign nationalities have occasionally appeared on Chinese television shows, Yonhap added. Epex's management, C9 Entertainment, did not immediately respond to a request for comment. China's Ministry of Culture and Tourism did not immediately respond to a faxed request for comment. China imposed the so-called 'K-wave ban' in 2016 in retaliation for Seoul allowing the US military to deploy the missile defence system called Thaad, or Terminal High Altitude Area Defence. Before the restrictions, China was among the fast growing market for K-pop. But the reported move raised doubts among curious Chinese fans, and some took to the social media asking: 'Has the Korea ban been lifted?' Epex's plans come as some South Korean movie and K-pop stars have cautiously resumed their activities in the mainland China. Some attended a Ralph Lauren fashion show in Shanghai, holding fan meet-ups in major cities that have been shunned since China's ban. South Korean producers have also begun talks over content exports, while there have been no official approvals on K-dramas yet by the Chinese government. Bloomberg Join ST's Telegram channel and get the latest breaking news delivered to you.
Korea Herald
29-04-2025
- Entertainment
- Korea Herald
All-Korean K-pop idol group to perform in China
An all-Korean K-pop boy group is set to hold a standalone concert in China next month, raising expectations that Beijing may be moving toward easing its tacit ban on South Korean entertainment. C9 Entertainment announced Tuesday that its eight-member boy group Epex will perform in Fuzhou, China, on May 31 as part of its Asian tour, which kicked off in Seoul last December. China imposed an effective ban on South Korean pop music, TV dramas and films around 2016, in what was widely viewed as retaliation for Seoul's deployment of the US missile-defense system THAAD. South Korean pop singers have been barred from performing in China ever since. While K-pop stars with foreign nationalities have occasionally appeared on Chinese television shows, Epex's concert would mark the first time in nine years that an all-Korean K-pop group will stage a solo concert in China since the 2016 ban. In January, the Black Skirts, a South Korea-based American indie rock musician of Korean descent, was granted permission to perform in China, drawing media attention. Earlier this month, Homies, a three-member all-Korean hip-hop group, also held a tour concert in the country. Korean singer-actor Kim Jae-joong hosted a fan meet-and-greet event in Chongqing, further fueling speculation about a possible easing of restrictions. There is cautious optimism that the Chinese performance market could soon reopen for major K-pop stars, especially with an idol group -- typically with a larger fan base than indie or hip-hop acts -- holding an official standalone concert rather than just a fan event. Currently, top K-pop acts such as J-Hope of BTS, Seventeen, Zerobaseone and EXO's Kai have been meeting their Chinese fans through concerts in Macau, rather than on the mainland. However, industry experts note that the key indicator will be whether Chinese authorities begin permitting large-scale concerts because high-profile K-pop artists require large venues with capacities of 10,000 to 20,000 seats. "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," said a K-pop industry veteran with more than 30 years of experience in managing singers. "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." (Yonhap)
