As government officials warned of the potentially negative impact of the tariffs, given South Korea is the US’s fourth-biggest supplier of steel, shares in South Korea’s four major entertainment groups soared to their highest levels for a year.
Going for a song: investors flee to K-pop as safe haven amid Trump’s tariff war Shares in South Korea’s entertainment groups soar as steel tariffs combine with a Blackpink world tour and BTS revival to supercharge their appeal.
China was responsible for about a fifth of South Korean entertainment companies’ revenue in 2016, according to the Korea Times, but sales have stagnated since Beijing imposed restrictions on Korean cultural imports the following year.
Along with film and TV dramas, cuisine and cosmetics, K-pop is one of South Korea’s most successful cultural exports, earning the country almost $900m in 2023 – an increase of more than a third on the previous year – according to the Korea Culture and Tourism Institute.
“The entertainment sector stands to gain significantly from the return of major intellectual properties like BTS and Blackpink, as well as minimal impact from US tariffs,” Shinhan Investment and Securities researcher Ji In-hae told the Korea Times.
