K-pop profit up to pre-Thaad levels
According to the Bank of Korea on Saturday, profit in the first quarter of the year reached $114.7 million, the highest figure since the third quarter of 2016, when the balance was $132.4 million. The Chinese government’s restrictions on Korean content began from around October 2016. Many Korean celebrities had a hard time getting approval to have events held in China, and some Korean stars even had to step down from shows they were already signed up for.
Korea collected $194.1 million in sales overseas thanks to the distribution of movies, musicals and songs, among others, paying $78.4 million in the first quarter.
The bank said that K-pop - with the rise of BTS, Blackpink and others on the global stage - seemed to have made an established presence in the global market.
By Lee Sun-min