K-pop group BTS triggers US$1.6b Hybe rout with shift to solo work

SHARES of Hybe, the agency that manages the South Korean pop phenomenon known as BTS, plunged by a record after the band said they’ll focus on individual projects for a little while.

Hybe sank as much as 27 per cent on Wednesday (Jun 15) in Seoul, headed for its lowest close on record since its trading debut in October 2020. The stock is down nearly 60 per cent so far this year. 

Members of the Bangtan Boys group, commonly called BTS, made the announcement in a video posted on YouTube, which has already got more than 9 million views. The singers said the time apart would be healthy for the band and urged fans not to view the development as negative. 

While the announcement means that the 7 band members won’t have to undertake South Korea’s mandatory military duty all at once, Hybe may face sharp downgrades to its profit and revenue estimates this year and next year, according to Lee Hyein, an analyst at Yuanta Securities Korea. BLOOMBERG