Hiatus: BTS’s ‘hiatus’ rocked Hybe’s stock; Jungkook And Korean Entertainment Giant Assure ARMY The Group Is Not Disbanding

After K-pop supergroup BTS announced on Tuesday that the group would be taking a hiatus so the members could focus and release their solo projects, shares in the group’s managing agency tumbled on Wednesday in early trading in Seoul.

The seven members — Jin, Suga, RM, J-Hope, Jimin, V, and Jungkook — revealed that the group was taking an indefinite hiatus during the Festa Dinner, where the group got together to celebrate their nine-year anniversary as BTS.

In the hour-long video, the group members talked about their struggle to grow and grow as individual K-pop artists.

However, Hybe, the South Korean entertainment company behind BTS, released a statement hours after the group’s announcement and stated that the group would still be working on projects both as a group and individually. “BTS don’t take a break. For now, the members will be focusing more on solo projects,” the statement said.

Meanwhile, on Thursday, BTS’s youngest member, Jungkook, held over an hour of live session in which he addressed the wildfire and reassured fans that the group is not breaking up. The singer also said that BTS is going to continue working on Run BTS, their reality show, and other projects.

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“Today I woke up and saw that there is a mess, about bangtan [BTS] goes on hiatus, suspends activities, or disbands. So I thought that there is something to fix, and came here. [on the live],” Jungkook said, adding, “BTS is forever. The army is forever.

The K-pop group is credited with billions of dollars for the South Korean economy, so needless to say, the news shocked the market as shares in Hybe, the label that manages BTS, plummeted by about 27 percent.

According to
Bloomberg News, the stock, which has fallen nearly 60% in 2022, hit its lowest closing level ever since its debut in trading in October 2020, losing $1.6 billion of its market value.

BTS’s announcement came days after the group released their three-disc anthology album ‘Proof’.

By the end of the dinner, several members of the group burst into tears, expressing their gratitude to ARMY, their fans, who are famous on the network.

The group’s leader, RM, 27, said that after BTS’s last few Grammy-nominated singles, he “didn’t know what the group was.” The group also stated that they were exhausted.

RM responds to messages about BTS disbanding
The group’s leader, RM, reached out to WeVerse for clarification and said that their new song “Yet To Come” from the album “Proof” speaks for itself about the next era of BTS with the promise that the group will come back stronger in the future. future.

“When I saw the screenshots and headlines of articles sent to me, there were quite a few provocative and partially spoken keywords, such as disbandment, promotion, break, declaration,” he wrote in Korean in his long post.

“It’s not that I didn’t know something like this was going to happen and I wasn’t prepared, but it’s actually pretty bittersweet,” added Namjoon. “This was exclusively a video dedicated to all the ARMYs that have been by our side for the past 9 years.”

“I think the courage to be honest does always breed unnecessary misunderstandings and lead to disaster,” he wrote.


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