On the morning of the 28th, shares related to the entertainment sector are showing a general decline. The impact is attributed to the cancellation of Chinese performances by Korean singers, which has weakened expectations for the lifting of the Korean Wave restriction.
As of 9:25 a.m. on the same day, YG Entertainment is trading at 101,800 won, down 1,700 won (1.64%) from the previous trading day.
At the same time, major entertainment stocks such as HYBE (-2.19%), SME (-1.18%), and JYP Entertainment (JYP Ent.) (-2.39%) are also experiencing a decline.
Earlier, on the 27th, Klep Entertainment, the agency for the group Kep1er, announced that Kep1er's concert in China has been postponed due to "force majeure factors." The performance by Kid Milli, scheduled for the 14th in Fuzhou, has also been canceled.
Comments from the special envoy delegation in Beijing have also worsened market sentiment. Park Byeong-seok, head of the special envoy delegation, mentioned during a press briefing at the South Korean Embassy in Beijing on the 26th that he confirmed there are "mountains to overcome" regarding the opening of cultural content such as the lifting of the Korean Wave restriction.