HYBE issues a statement regarding the finances for BTS' 'Yet to Come' Busan Concert

HYBE has issued an official statement regarding the expenses for BTS' upcoming World Expo 2030 Concert. In a recent clarification statement to Newsen, the entertainment company explained how they plan to manage the finances for the Yet To Come concert.

KBS, a South Korean broadcast network, announced on Wednesday, September 21, 2022, that the Busan Government had sent sponsorship emails to ten Korean corporate behemoths interested in funding the BTS Busan Concert, which is scheduled for Saturday, October 15, 2022.

KBS also revealed that the emails were sent with the approval of BTS' parent label. According to reports, HYBE requested sponsorship emails. However, in a recent statement, the company denied having any knowledge of the request.

Controversy related to BTS' upcoming Yet To Come concert continues as HYBE issues a new statement regarding the finances

Soon after KBS' claim, BTS' agency issued a statement on Thursday, September 22, 2022, to clear the air regarding the controversy related to financing BTS' forthcoming Yet To Come concert in Busan.

The statement read:

“A significant portion of the cost [of the ‘Yet To Come’ concert] will be covered by corporate sponsorships, online streaming advertisements and THE CITY subsidiary enterprise, among others,” HYBE wrote. “In addition, it was also decided that HYBE will personally cover for the remaining expenses that cannot be covered by these measures.”

The label also stated that the Butter hitmakers will perform the concert for free because it has long been one of their dreams to perform a free concert for their Korean fans.

The multibillion-dollar corporation also stated that it has always been their goal to focus on the positive outcomes of participating in national events rather than the costs.

The notice emphasizes that they have always approached government assistance with caution due to the fact that it is the primary source of taxpayer funds. As a result, the same can be expected of the upcoming BTS Busan Concert, which will serve as Korea's bid to host the World Expo 2030.

It ended with them mentioning how the company and BTS feel proud to contribute to the country's development and success. Continuing, they mentioned:

“HYBE and BTS will do our best until the end so that the Busan concert will become a cornerstone for the bid to host the 2030 Busan World Expo.”

This is not the first time the BTS' Yet To Come gig has faced any hurdles. Previously, Busan residents and K-netizens raised concerns about the venue, and as a result, the concert was moved to the Busan Asiad Main Stadium.

About the author

Muskan Jaiswal is a journalist specializing in pop-culture, lifestyle, and Korean entertainment at Sportskeeda. With a Bachelor's Degree in Business Administration and a Master's Diploma in Journalism, she began writing as a form of creative expression during the pandemic-related lockdown. She has about four years of experience, working at Otakukart, Movieweb, The Times of India, Aeroplay Entertainment, and Lifestyle Asia, among other organizations.

As a Pop-culture writer, she values presenting reports after a robust fact-checking process on celebrities and other trending topics, which interest people. Among her professional achievements is a feature on eco-friendly practices in K-pop album production. This write-up, which took a week of research, covered a range of sub-topics such as the export-import history of K-pop albums, and shifts in music marketing in that industry.

When not working, she enjoys watching films and discovering indie artists across several music platforms. Her favorite bands include Coldplay, BTS, and CAS.

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Edited by Vinay Agrawal