AEG Presents has joined forces with Galaxy Corporation, a Korean AI metaverse firm, to collaborate on the global expansion of the Korean pop (K-pop) genre.

It comes as AEG Presents gears up to open the “world’s first K-Pop specialised arena“, which will reportedly be enabled by the metaverse and augmented reality.

The strategic collaboration, announced this week during the Korean-Singapore Business Forum, is designed to further technological advancements in the touring and entertainment spaces, specifically around K-pop shows.

Galaxy Corporation began breaking into the music sector last December by signing “King of K-pop” G-Dragon, leader of the influential K-pop band BIGBANG.

The company works to distribute Korean entertainment to a global audience, through VR/AR content production, digital events, and performances. In addition, Galaxy deals with intellectual properties and operates in the television sector, producing Netflix’s Physical: 100.

“We will provide a new type of performance experience to the audience by developing technologies such as AI, augmented reality (AR), mixed reality, and robots into entertainment,” says Choi Yong-ho, CEO of Galaxy Corporation.

“We will also promote sustainable growth of the K-pop industry by discovering and supporting new artists.”

Adam Wilkes, president and CEO of AEG Presents Asia, adds: “We are looking forward to how the collaboration between the two companies will bring about both artists and audiences. We will build a platform for K-pop artists to continue to thrive on the global stage.”

By entering the partnership, AEG Presents aspires to build upon previous successes in the genre

In recent years, AEG Presents has dialled in on the K-pop market. The multinational firm is behind the 20,000-capacity CJ LiveCity Arena, which is projected to open in early 2025.

Set to open in Goyang City, Seoul, the nearly ₩2 trillion (€1.3 billion) development comprises the arena and a 40,000-capacity outdoor performance space as part of a larger K-pop entertainment district.

Projected to welcome over 20 million visitors annually, the innovative venue is reportedly designed with technological advancements at the forefront, such as the metaverse and AR.

In 2022, AEG Presents formally partnered with K-pop touring and marketing firm Powerhouse, which has worked with some of K-pop’s biggest stars such as BTS and Blackpink and is a partner of the world’s biggest K-pop festival CJ ENM’s KCON. The two firms had been working in tandem since 2010 when they produced what’s remembered as “the first blast of K-pop in the US”.

KCON expanded to its fifth region earlier this year, landing in Hong Kong for the first time alongside Japan, the US, Europe and Saudi Arabia.

By entering the partnership with Galaxy, AEG Presents aspires to build upon previous successes in the genre. The firm promoted BLACKPINK’s latest trek, the 2022-23 Born Pink world tour, which became the most-attended concert tour by a K-pop girl group with 1.8 million attendees.

BLACKPINK went on to headline the AEG-backed BST Hyde Park in London last summer, a milestone for the summer series: “Having a K-pop band headline a UK festival for the very first time and deliver a great show was an important moment for us,” said Jim King, CEO of AEG’s European festivals.

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ICA-Live-Asia president Tommy Jinho Yoon tells IQ he is planning to launch a new festival after working on the debut edition of Summer Sonic Bangkok.

Yoon partnered with promoter Creativeman on the two-day event, which was held from 24-25 August at the 12,000-cap Impact Challenger Hall in Muang Thong Thani, Thailand.

Headlined by OneRepublic and Lauv, the lineup included further overseas stars such as Laufey, Aurora, Suede and Nothing But Thieves. Ticket prices ranged from 3,500 (€89) to 11,000 (€278) for a one-day pass, and 6,500 (€164) to 20,000 (€506) for two-day entry.

“Summer Sonic Bangkok 2024 went extremely well, especially with it being its first year in Bangkok,” says Yoon. “This was the very first time Summer Sonic was officially licensed anywhere outside of Japan.”

Aside from numerous upcoming headline shows throughout the continent, Yoon reveals his company has a brand-new event in Seoul, South Korea, in the offing – the name of which will be confirmed shortly.

Yoon is also international artist programmer for Incheon Pentaport Rock Festival – the first major festival of its type to be established in Korea back in 1999 – plus Yoursummer and Legend of the Guardian Festival.

He launched US-based ICA to cater to the growing demand for live events in Korea, China, Asia and the Philippines, and created a mini-Asian tour for Britpop icons Suede, taking in KBS Arena in Gangseo-gu, Seoul, and Zepp Kuala Lumpur, alongside their slot at Summer Sonic Bangkok.

“Most territories in Asia have limitations on how high ticket prices can go”

“They did extremely well in Seoul, selling out, and also had a great performance at our festival in Bangkok, but faced some difficulties in Kuala Lumpur,” explains Yoon. “Like Europe, territories in Asia differ, and international artists have specific markets that work for them and others that don’t.

“To put it simply, the overall market for international artists in Asia is generally positive at the moment. We anticipate even more positive outcomes as the market continues to expand.”

According to Yoon, current challenges include increased competition among promoters in the region, “leading to bidding wars and higher artist fees”.

“Most territories in Asia have limitations on how high ticket prices can go,” he continues. “For example, in Korea, there is no concept of overpriced or high-priced VIP tickets. On the opportunity side, the international music scene is becoming more mainstream, with audiences expecting more shows and tours to enter the market. Ticket sales are generally reflecting these positive trends.”

And Yoon, who hosted a panel on K-pop at last year’s International Live Music Conference (ILMC) in London, says there are few signs of the phenomenon dying down any time soon.

“K-pop is still going strong globally and has expanded even further on a global scale,” he adds. “On the domestic scene, it has diminished slightly. But with foreigners entering Korea and becoming the primary ticket buyers, the market remains strong.”

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A long-awaited arena development to help Korea capitalise on the K-pop explosion has been given a revised opening date after the project was paused.

Seoul Arena was originally expected to be completed in October next year, but is now targeted for 2027.

The Korea Times reports that work began in November 2023, but IT giant Kakao, which is partnering with the Seoul city government on the venue in the South Korean capital’s northern Dobong district, temporarily halted construction, blaming rising costs.

But the scheme appears to be back on track after a groundbreaking ceremony, originally planned for December, was held this week, attended by dozens of local dignitaries.

“Seoul Arena will become a landmark of Seoul’s northeastern region,” says the city’s mayor Oh Se-hoon.

“Kakao will strive to create spaces and programmes where global K-pop fans can experience not only music but also diverse K-culture and content”

The complex will include an 18,269-seat arena, plus a 2,010-seat performance hall, and is expected to draw 2.5 million tourists a year to the city.

“Kakao will strive to create spaces and programmes where global K-pop fans can experience not only music but also diverse K-culture and content,” adds Kakao CEO Chung Shin-a.

Despite the worldwide growth of K-pop, the country of its birth has been unable to satisfy demand due to a lack of venues, with Seoul Arena set to become South Korea’s first arena dedicated to staging pop concerts.

Meanwhile, a second Korean arena scheme, the AEG-backed 20,000-cap CJ LiveCity Arena, slated to open in Seoul’s Goyang City, Gyeonggi Province, in 2024, has reportedly hit the rocks.

Goyang city government recently ended its agreement with CJ LiveCity — a subsidiary of media conglomerate CJ ENM — after the company halted construction in the spring of 2023 due to funding issues. Gyeonggi Province says it will “pursue business with a new vision and method”.

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Touring K-pop festival series Waterbomb Festival is expanding to several global markets this year, with new editions set for the US, Hong Kong, Vietnam, Taiwan, the UAE, Singapore, and China.

Set to kick off this May in Xiamen, China, the international series will take water-soaked stars to Hong Kong in June before touring South Korea and Japan in July and more cities across both, plus Singapore, in August. A Bangkok edition has been set for September, with stints in Los Angeles, Ho Chi Minh City, Taipei, and Dubai to be announced.

First held in 2015 in Seoul, South Korea, the festival series first expanded to new markets in 2023 with two editions in Japan and one in Bangkok. This year, the series will visit nine cities in South Korea, four in Japan, and one in Thailand, along with the new editions.

The event was launched by Hong Kong-based streaming platform Viu and Singapore-based Evergreen Group Holdings, with local promoters helping bring it to new territories.

The K-pop genre continues to soar to new hights and into new markets

As the name suggests, Waterbomb intertwines various water activities alongside local and international lineups of K-pop, hip-hop, and EDM performers. Though lineups vary by city, performers include K-pop supergroup TWICE’s Nayeon, American rapper Jay Park, and SHINEE’s Taemin, and South Korean singers Hwasa, Chung Ha, and Bibi, among a variety of others. Former performers include Blackpink, aespa, Simon Dominic, and Jessi.

The K-pop genre continues to soar to new heights and into new markets, with behemoth HYBE reporting its concert revenue skyrocketed by 40% in 2023, reaching KRW 359.1 billion (€253m) in the year. Last autumn, fellow agency SM Entertainment announced its Q3 revenue surged 40% year-on-year, partly attributed to their star’s expansive world tours.

KCON, the world’s biggest K-pop and culture convention, also expanded to a fifth region this year, adding Hong Kong to its 2024 lineup of Japan, Los Angeles, Saudia Arabia, and to-be-announced Europe.

The 2024 schedule is as follows:

May
18-18: Xiamen, China

June
1-2: Hong Kong

July
5-7: Seoul, South Korea
13: Jeju, South Korea
13: Fukuoka, Japan
20: Daegu, South Korea
27: Busan, South Korea
27-28: Tokyo, Japan

August
3: Incheon, South Korea
10: Daejeon, South Korea
10: Osaka, Japan
17: Sokcho, South Korea
17: Nagoya, Japan
24: Suwon, South Korea
24-25: Singapore, Singapore
31: Gwangju, South Korea

September
TBA: Bangkok

TBA
Los Angeles, United States
Ho Chi Minh City, Vietnam
Taipei, Taiwan
Dubai, United Arab Emirates

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Seoul-based K-pop giant HYBE surpassed annual revenue of KRW 2 trillion (€1.5 billion) in 2023, powered by growth in its concert and album businesses.

Concert revenue soared around 40% year-on-year from KRW 258.2 billion (€178 million) in 2022 to KRW 359.1 billion (€253m) in 2023, with the total number of performances increasing from 78 to 125 during the period.

World tours by Suga of BTS and Seventeen, as well as the first North American stadium and Japanese dome tours by Tomorrow X Together and Enhyphen, contributed to the company’s revenue growth. Le Sserafim also held their first Asia tour with sold-out shows in Seoul, Japan, and Hong Kong.

Overall, the South Korean firm behind BTS scored the highest annual revenue (KRW 2.17 trillion) and operating profit (KRW 295.8bn) since its establishment in 2005, representing a year-on-year increase of 22.6% and 24.9%, respectively.

HYBE has maintained growth of annual revenue of more than 20% each year since going public in 2020

Its three-year compound annual growth rate (CAGR) stands at 31.7% for revenue and 24.7% for operating profit. HYBE has maintained growth of annual revenue of more than 20% each year since going public in 2020.

Album sales were another key driver in the financial results, with HYBE artists collectively selling 43.6 million units last year, doubling the figure from the previous 12 months. Its global fandom platform Weverse also exceeded a monthly active user base of over 10m.

In addition, HYBE America’s management affiliate SB Projects has signed new artists including singer-songwriter Ozuna and rapper Kaliii, last year. SB Projects is forecasting substantial revenue growth for this year with the release of Ariana Grande’s new album in March.

HYBE has also disclosed plans for a cash dividend of KRW 700 won per share, totaling KRW 29.2bn.

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Blackpink’s history-making Born Pink World Tour is to conclude as it began – with two nights in Seoul in the quartet’s native South Korea.

Korea JoongAng Daily reports the concerts will be held from 16-17 September at a venue to be decided, with the second date set to be livestreamed globally.

The K-pop superstars kicked off the tour in Seoul on 15-16 October last year with a two-night stand at the KSPO Dome.

“The two concerts will be a grand finale to the world tour during which the girl group coloured 41 cities around the world in pink over the course of 11 months,” says the group’s agency YG Entertainment. “We are happy to end the tour in Korea, where we began the tour, with Korean fans. The members particularly wanted to hold an encore concert in Seoul. The staff and artists alike are putting their best foot forward to give the best performance.”

Born Pink has long surpassed the Spice Girls’ Spice World 2019 reunion tour, which made $78.2m from 13 sold-out nights, as the highest-grossing concert tour by a female group after reportedly earning $78.5m from its first 26 shows.

The tour also pulled in 113,498 fans across two sold-out nights at Foro Sol in Mexico City from 26-27 April, generating US$9.989 million per night, to become the top-grossing concerts in Mexican history.

“Having a K-pop band headline a UK festival for the very first time and deliver a great show was an important moment”

In addition, Blackpink became the first K-pop and all-female group to headline Coachella and went on to headline AEG’s 65,000-cap BST Hyde Park in London in July.

“Having a K-pop band headline a UK festival for the very first time and deliver a great show was an important moment for us,” AEG’s CEO of European festivals Jim King told IQ.

The group’s previous 2018-20 In Your Area World Tour netted $56,756,285 from 36 dates.

Blackpink currently sit a distant second on Koreaboo‘s list of the 10 most-attended concerts by female K-pop artists in Korea over the past 12 months. Their KSPO Dome shows reportedly drew 20,060 fans to trail singer-songwriter IU, who attracted 87,578 people to her two shows at Seoul’s Olympic Stadium last September.

The top 5 is completed by Taeyeon (17,843 attendees) Twice (13,792) and Red Velvet (11,562) over two nights at KSPO.

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A K-pop show held as part of the 2023 World Scout Jamboree Korea has been accused of trying to steal headliners from another festival.

The K-Pop Super Live Concert was originally set to take place in Saemangeum, South Korea on 6 August, but was postponed by officials due to extreme heat.

The jamboree attracts more than 40,000 people from 155 countries and has been plagued by problems, causing embarrassment to the Korean authorities. Thousands of scouts have since been evacuated from a campsite due to an approaching tropical storm.

The K-Pop Super Live Concert has now been switched to the Jeonju World Cup Stadium this Friday (11 August), clashing with the start of the Jeonju Ultimate Music Festival (JUMF), which is scheduled to run from 11-13 August.

Koreaboo reports that the move received an angry response from JUMF organiser Lee Tae Dong, director of promoter MBC.

“Am I a fool for preparing for over half a year for this festival’s success? Is it okay for them to disregard a festival in their region just for their convenience?”

“I am filled with anger,” he says. “It’s not just because we’ve been preparing for the festival in the same city on the same day for a long time. JUMF even postponed its event date in accordance to the Jamboree’s schedule.”

Dong also alleged the rival event’s organisers had attempted to remove the artists who were already booked to perform at JUMF.

“The organisers of the Jamboree event contacted me,” he says. “They asked for understanding about their plan to have the headliners of Friday’s JUMF perform at Jamboree’s closing K-Pop concert on the same day – one hour before the festival. I was utterly dumbfounded by their request.

“These artists were announced as headliners for the festival a long time ago. Since they are located close to the closing ceremony, Jamboree must have thought it was easy to invite them. Am I a fool for preparing for over half a year for this festival’s success? Is it okay for them to disregard a festival in their region just for their convenience? Are the rights of the audience who traveled a long way, paying significant costs and expenses to see the performance of a team, disregarded with a free show?”

The jamboree’s concert was initially scheduled to feature 11 artists, including Ive, ZeroBaseOne, NMIXX, StayC and P1Harmony, but there will be changes to line-up. Artists due to headline JUMF, meanwhile, include Oh My Girl and Dreamcatcher. Oh My Girl’s agency WM Entertainment says it has not been contacted by Jamboree organisers, adding that the group is planning to go ahead with their performance at JUMF.

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The Korean edition of the Woodstock Music and Art Fair has been postponed, following a raft of issues.

The event was due to take place later this month at the Multipurpose Square in Pocheon, Gyeonggi, and would’ve been the legendary festival’s first incarnation outside of the US.

“The Woodstock festival has been postponed to 7-9 October to ensure a safe event operation and to work on the event’s completion. The festival is being postponed, not cancelled,” reads a statement from organisers.

Currently, the lineup is mainly rock and pop acts from Asia, including Japanese hard rock veterans Loudness and a number of seasoned Korean artists.

In early July, the organisers also announced that several overseas artists, including Akon and New Hope Club, would be performing, but these artists did not update the new Woodstock festival changes on their respective home page schedules, prompting doubts about their participation in October.

“The Woodstock festival has been postponed to ensure a safe event operation and to work on the event’s completion”

The festival has already gone through multiple challenges since it was announced in January, including criticism over the choice of venue, a constantly shifting lineup and high ticket prices.

Following criticisms regarding the latter, organisers slashed the three-day ticket price from 400,000 won ($310) to 150,000 ($117).

The original Woodstock festival was held in 1969, with anniversary events taking place in 1994, 1999 and 2009. A 50th-anniversary event was slated for 2019 but was ultimately cancelled due to financial problems.

In 2010, there was an attempt to host a Woodstock festival in Korea, but it never took place because of “copyright and artist lineup issues,” according to the Korea Herald.

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K-pop is yet to reach its peak despite its incredible growth on the international stage, according to experts.

ILMC’s How K-pop Conquered the World panel charted the history of the genre and how it broke worldwide, while pondering what is next for the scene.

ICA-Live-Asia president Tommy Jinho Yoon, who moderated the session in London, outlined the growth of the K-pop, saying he would never have imagined that Korean music would be embraced on a global platform.

“It’s about perfection,” said Yoon. “These artists live together and are trained at least two years before they do anything. They’re not allowed to do this and that; they’re not even allowed to date. It’s just total military training – this high, intense level of choreography, vocal and physical training – all these elements are embodied in the performance side of K-pop. And apparently, it is working with this generation.”

“It takes a significant time and also talent development for these artists to debut to the world,” affirmed Humid.TV’s David Choi, a former A&R director/producer for K-pop giant SM Entertainment.

“I don’t think we’re at the stage where it’s going to plateau yet”

California-based Choi credited a ’90s show in Korea by iconic American boyband New Kids on the Block for inspiring SM founder Lee Soo-man to create K-pop pioneers H.O.T. in 1996.

“That’s when [Soo-man] got the idea that, ‘Hey, I should build a boy group like this,'” said Choi. “That group was called H.O.T. And he was right – it was a global success.”

With superstars BTS not expected to regroup until 2025 while the band members fulfil their mandatory military service, there have been suggestions that the genre is starting to wane in popularity. But to Live Nation Australasia’s Wenona Lok, who recently worked on Stray Kids’ record-breaking Australian shows, any concerns on that front are premature.

“I don’t think we’re at the stage where it’s going to plateau yet,” she said. “It’s something that people can really learn from and we’re also starting to see a lot of K-pop acts collaborate with Western artists.”

“A lot of Western artists that I deal with are requesting to be connected with K-pop artists to do collaborations, and vice-versa,” agreed Yoon. “So I foresee a lot of that in the future – there is going to be joint shows and a lot of music produced together.”

“We had more traffic in the AXS waiting room for BTS than for Adele’s comeback shows one or two years before”

The O2’s VP and general manager Steve Sayer reflected on the impact BTS’ two nights at the London venue in 2018, which he said exceeded even the promoter’s expectations.

“I won’t put anyone on the spot, but I don’t think anyone really appreciated quite how big it was going to be,” he said. “We had more traffic in the AXS waiting room for BTS than for Adele’s comeback shows one or two years before. We could have had 20 shows comfortably, but they were holding back shows for Wembley Stadium the following summer.

“On the morning of [the first show], I had to double take because it was about 8.30am and there must have been at least 5,000 fans, if not more, queuing compliantly, and the front doors of The O2 weren’t even open.

“You announce one band, you sell 5,000 tickets. You announce the next band, you sell another 5,000 tickets, and then it adds up to 40,000 at the end”

“Everyone was in the arena bowl 90 minutes before the show’s start time. It smashed our merchandising record, which was broken, subsequently, at Blackpink a few months ago – and when the band came on stage, I’d never seen anything like it – not even at One Direction shows. I will use the word ‘hysteria’ because I can’t I can’t think of a better adjective.”

The O2 will host Europe’s biggest K-pop festival Kpop.Flex from 22-24 September this year, while Frankfurt’s Deutsche Bank Park hosted the inaugural edition of Kpop.Flex in May 2022. The event will return to the German venue for a second edition from 17-18 June this year.

“We announced the line-up band by band,” said the stadium’s MD Patrik Meyer. “You announce one band, you sell 5,000 tickets. You announce the next band, you sell another 5,000 tickets, and then it adds up to 40,000 at the end. You could see that every fan had one specific band [they had come to see], but they like it all, so that’s fantastic for a festival.

“We sold out the first day of the [2022] festival within four to six weeks, so we added the second day. That didn’t sell out completely, but at the end we had almost 70,000 – 40,000, plus 30,000 for a first time event, which was a huge success.”

“It’s become a community and a culture beyond the music”

He added: “Social media is key to K-pop. Without that, it wouldn’t be possible to create that phenomenon. For our festival, no flyer was printed, no poster was put up, it was just starting an Instagram account from zero, so it’s a very active crowd.”

Creative director Amy Bowerman, whose past clients include Blackpink, extolled the strength of the genre’s relationship with its fans.

“One of the things that Kpop does so well is talk in youth language,” she said. “The power of that culture is huge, and one of the beautiful things about it is that it obviously lives online, but there’s also a physical space where you see all these dance groups come together. It’s become a community and a culture beyond the music. And I think that that is incredible, specifically for young people.

“With how tumultuous the world has been over the past four years, looking to these people who stand as beacons for  inclusivity and bringing people together… that is one of the reasons I think people are connecting to the artists so deeply and profoundly.”

“I think the reason K-pop is so big is because it’s really accessible,” agreed Lok. “If you go online, there are many fan groups that are happy to help educate you. Having the internet makes a big difference – it’s a right time, right place thing – but a lot of K-pop fans are women in their mid 40s, of all race groups. They come to the shows and bring their daughters because it’s something that is easy to share and get excited about.”

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K-pop powerhouse SM Entertainment has seen its profits soar 70% thanks to the return of concerts and live events, as controversy grows over its “hostile takeover” by rival HYBE.

Bloomberg reports that Seoul-based SM posted an operating profit of 25.2 billion won (€18.3 million) in Q4 2022, with sales rising 18.2% to 256.4bn won. Its number of concerts in the three-month period was up 35 times on the same quarter in the Covid-hit 2021.

SM, which is home to acts such as BoA, TVXQ, Girls Generation, Shinee, EXO and Super Junior, says it expects profits from concerts and music operations will continue to grow in the first half of 2023, with boy band NCT Dream and pop duo TVXQ! holding more than 50 concerts.

NCT Dream recently completed a Japanese tour, including their first dome shows at Kyocera Dome Osaka, which pulled in 120,000 people over three days. The final show was transmitted through WOWOW, Japan’s largest satellite channel broadcaster, as well as live viewing, which broadcasts live performances at 140 movie theatres nationwide, and was also broadcast live on the global platform Beyond LIVE.

The band will tour Asia, Europe and the Americas from March, while girl group Aespa are also planning another 10 concerts in Japan in the first six months of the year.

“As soon as SM’s new vision ‘SM 3.0’ was announced, the largest shareholder sold his stake, and a hostile takeover attempt by a competitor started”

Earlier this month, HYBE became the largest shareholder in SM Entertainment with the purchase of KRW 422.8 billion shares — a 14.8% stake.

The move was led by HYBE’s global team and involved acquiring former chief producer Lee Soo-Man’s shares in SM days after the announcement of the SM 3.0 business strategy and development plan.

HYBE, which has pledged in a separate notice to buy another 25% stake, is home to acts including BTS, Tomorrow X Together, NewJeans, LE SSERAFIM and Seventeen through its subsidiary labels, such as Big Hit Music, Pledis Entertainment, Source Music and ADOR.

However, over the weekend, SM Entertainment CFO Cheol Hyuk Jang released a video denouncing HYBE’s “hostile takeover”.

“As soon as SM’s new vision ‘SM 3.0’ was announced, the largest shareholder sold his stake, and a hostile takeover attempt by a competitor started,” he says, as per Koreaboo. “This is an attempt that ignores not only the fierce deliberation and efforts of the 600 SM employees who have dreamed of becoming the No.1 entertainment company in the world, but also the values and pride of SM that it has pursued together with the fans and artists.”

“HYBE is raising not only its own concert ticket prices but also those of the labels it has acquired, which illustrates the impact monopoly will have on the industry”

Jang also raised competition concerns over the acquisition, adding that it will lead to higher ticket prices for concerts.

“If HYBE takes the majority of the market share by acquiring SM’s managerial rights, K-pop would lose opportunities for a greater advancement forward,” he said. “Ultimately, K-pop fans will be the ones that will be most affected by the monopoly.

“SM puts reasonable prices to concert tickets to allow broader scope of fans to enjoy cultural performances. Meanwhile, HYBE has taken advantage of its position in the K-pop market to almost double the concert ticket prices as reported in the news several times recently. HYBE is raising not only its own concert ticket prices but also those of the labels it has acquired, which illustrates the impact monopoly will have on the industry.

“The consolidation of SM and HYBE will accelerate ticket price increase, adding burden to fans who love and support K-pop and K-pop artists. The concert ticket price hike is just one example. The monopoly created as a result of HYBE’s hostile acquisition of SM will cause more diverse and direct problems, including decreased diversity of artists, music and concerts.”

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