The imposition of a 25% tariff on foreign steel by Donald Trump has created unease among South Korean officials. However, the K-pop industry is emerging as a robust sector amidst this trade turmoil. With the US being a significant steel buyer from South Korea, stock prices for major entertainment firms, such as JYP Entertainment and Hybe, have surged to yearly highs. Analysts believe K-pop's resilience against tariffs, along with anticipated comebacks from high-profile groups like BTS and Blackpink, bodes well for growth in the entertainment sector.
As government officials warned of the potentially negative impact of the tariffs, shares in South Korea's four major entertainment groups soared to their highest levels for a year.
Market analysts say K-pop has avoided entanglement in Trump's burgeoning trade war, which primarily targets goods while leaving soft power sectors such as entertainment largely unscathed.
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