Hybe Co.’s shares plunged as much as 15% after a heavily-promoted comeback concert by K-pop megastars BTS drew a smaller crowd than authorities initially expected.
Stock in BTS’s agency recorded its biggest intraday decline since June 2022. The group’s event at Gwanghwamun square attracted 104,000 fans versus the 260,000 initially estimated by police, according to Chosun Ilbo. Stringent crowd control measures — reflecting in part the authorities’ focus on avoiding a repeat of the Itaewon incident years ago — may have played a part.
