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▲ This photo, captured from BTS' official Twitter account, shows the group BTS. (PHOTO NOT FOR SALE) (Yonhap) |
SEOUL, June 15 (Yonhap) -- HYBE stocks plunged on Wednesday after BTS announced to pause group activities and focus on individual careers.
HYBE fell 24.61 percent, to trade at 145,500 won as of 9:30 a.m. on Wednesday morning on the KOSPI market.
At the beginning of the market, HYBE fell 27.46% to 140,000 won, recording an all-time low in 52 weeks.
The septet unveiled the plan on a YouTube video posted on Tuesday night and said it will suspend performing as a group and focus instead on solo projects to explore the growth of individual members.
Hana Financial Investment lowered its target price from 430,000 won to 360,000 won after reflecting on the possibility of BTS joining the army.
Researcher Lee Ki-hoon analyzed, “The most conservative scenario is the assumption that all BTS members will join the army in early 2023,” adding, “When enlisted, BTS-related sales are estimated to have decreased by about 750 billion won in 2023, 500 billion won for albums and tours and 250 billion won for indirect sales such as product planning (MD).”
(This article is translated from Korean to English by An Hayeon.)
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