Shares in K-Pop Agencies Fall After Report of Antitrust Probe 

Fans react as South Korean singer PSY (C) performs during his "Summer Swag 2023" concert at Jamsil Olympic Stadium in Seoul on June 30, 2023. (AFP)
Fans react as South Korean singer PSY (C) performs during his "Summer Swag 2023" concert at Jamsil Olympic Stadium in Seoul on June 30, 2023. (AFP)
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Shares in K-Pop Agencies Fall After Report of Antitrust Probe 

Fans react as South Korean singer PSY (C) performs during his "Summer Swag 2023" concert at Jamsil Olympic Stadium in Seoul on June 30, 2023. (AFP)
Fans react as South Korean singer PSY (C) performs during his "Summer Swag 2023" concert at Jamsil Olympic Stadium in Seoul on June 30, 2023. (AFP)

Shares in K-Pop management agencies fell on Wednesday, after South Korea's antitrust watchdog began investigations into any potential infractions of subcontracting rules when outsourcing production of albums and merchandise, Yonhap reported.

The Korea Fair Trade Commission (KFTC) sent investigators to the offices of HYBE, SM Entertainment and YG Entertainment on Tuesday, Yonhap news agency reported citing unnamed industry sources.

The KFTC is looking into whether agencies engaged in any practices with subcontractors such as verbal contracts without issuing them in writing, unfair contracts or delayed payment, Yonhap said. No specific charges have been brought.

The KFTC declined comment on any specific investigation.

HYBE, SM and YG did not immediately respond to a request for comment.

Shares in HYBE, the management agency of K-Pop sensation BTS, fell 2.1% in early morning trade, versus a flat wider market. SM Entertainment and YG Entertainment shares also fell 1.5% and 0.4%, respectively, as of 0015 GMT, although YG later reversed losses.

HYBE reported 410.6 billion won ($315.9 million) in January-March quarter sales; out of that, 44.9% came from albums and 16.8% from merchandise and intellectual property, according to a Shinhan Investment & Securities report on Tuesday.



Rio Goes Gaga for US Singer ahead of Free Concert

A fan shows a tattoo of US singer Lady Gaga at Rio's Copacabana Beach, where the pop star will stage a free concert. Daniel RAMALHO / AFP
A fan shows a tattoo of US singer Lady Gaga at Rio's Copacabana Beach, where the pop star will stage a free concert. Daniel RAMALHO / AFP
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Rio Goes Gaga for US Singer ahead of Free Concert

A fan shows a tattoo of US singer Lady Gaga at Rio's Copacabana Beach, where the pop star will stage a free concert. Daniel RAMALHO / AFP
A fan shows a tattoo of US singer Lady Gaga at Rio's Copacabana Beach, where the pop star will stage a free concert. Daniel RAMALHO / AFP

Behind his large studded sunglasses, Victor Faro's eyes were glued on the luxury hotel overlooking Copacabana beach where US superstar Lady Gaga is staying ahead of her free mega-concert in Rio de Janeiro on Saturday.

Brazilians have been waiting more than a decade for the 39-year-old pop icon to perform in the country, and excitement is at fever pitch.

On Thursday, the city was crawling with "little monsters," as Gaga affectionately refers to her fans, decked out in T-shirts, wigs, baseball caps stamped with her image.

Faro sported plastic horns and a thin Salvador Dali-style moustache curled up at the sides -- two accessories that were part of Lady Gaga's look during her "Born This Way" and "Artpop" days -- as he waited outside the Copacabana Palace hotel for a glimpse of his idol.

'Mother' Gaga

Faro travelled from neighboring Espirito Santo state to be at Copacabana at 6:00 am on Thursday, in order to "be as close to the stage as possible."

A few meters away, Cinthia Rodrigues, a 28-year-old content creator in a platinum blonde wig and bandana, said she saw Lady Gaga "as a mother figure."

"I don't just identify with her look, but also her personality," she said, adding she was looking forward to a "historic concert."

Fresh off the release of her latest album "Mayhem," the star -- who played two nights in Mexico City last week -- vowed in February "to make sure this show is one you will never forget."

Gaga's previous plans to play in Brazil, at a rock festival in Rio in 2017, were canceled due to health issues.

Bringing joy

Rio is no stranger to mega-events.

Each year, around 1.6 million people attend its massive Carnival festivities.

In May 2024, Madonna gave one of the biggest shows of her four-decade career at Copacabana, drawing over a million fans and pumping millions of dollars into the local economy.

The shot in the arm from Lady Gaga's gig is expected to be even bigger.

"The fact of adding a concert by an international star each year on Copacabana beach helps stimulate economic activity in a period previously considered the off-season," Osmar Lima, Rio's secretary for economic development, said in a statement.

"It brings in money by attracting tourists and brings joy to the neighborhood," said Analice Analice Regina Moreira, a 73-year-old Copacabana resident.

The meat dress

Traders were doing a brisk trade in Lady Gaga-themed merchandise ahead of the concert; fans waited in line for up to an hour at one store.

The most popular item was a tank top inspired by the iconic "meat dress" she wore to the 2010 MTV Video Music Awards.

"We were expecting a lot of people but this is far bigger than we imagined," said Paulo Moreira Monteiro, who had to hire a security guard to keep shoppers in line.

He expects the gig to boost his revenues by 70 percent as compared with a regular week.