As the world's enthusiasm for K-Pop shows no signs of cooling and concerts by famous overseas artists in Korea continue to gain immense popularity, the massive impact of these performances is clear. However, the lack of large-scale domestic venues capable of accommodating numerous fans is causing significant disappointment.

The economic impact brought about by K-Pop group concerts is enormous. BLACKPINK, which held a world tour from 2022 to 2023, mobilized a total of 1.8 million spectators across 34 cities. In Hanoi, Vietnam, it was reported that during the two days of the BLACKPINK concert, the number of foreign visitors reached approximately 170,000, with about 70,000 fans visiting the concert venue. The Hanoi Department of Tourism also revealed that visits to major tourist attractions increased by 15% to 20% compared to the same period the previous year.

The domestic market is also seeing sustained growth in popular music, including K-Pop. In particular, popular music accounted for 52.3% of ticket sales in the third quarter. This is seen as the result of concerts by idols such as PSY's "Drenched Show," BTS's Suga, BLACKPINK, and SEVENTEEN, as well as performances by visiting international artists. Notably, the number of performances by visiting international artists increased by 174.6% compared to the same period last year, and ticket sales also saw a significant increase of 134.8%.

The Korea Culture and Tourism Institute analyzed last year that the economic ripple effect of a single BTS concert in Korea could reach up to 1.2 trillion won. This analysis combined ticket sales, merchandise revenue, tourism spending, transportation costs, and accommodation expenses. However, this result was based on the assumption of a 65,000-seat capacity, and currently, there are no venues in Korea that can easily accommodate such a scale. The only performance facilities in the metropolitan area with a capacity of over 60,000 are the Seoul World Cup Stadium (Sangam) and the Jamsil Olympic Stadium.

Currently, large-scale performance venues in the metropolitan area are "out of reach." The Jamsil Olympic Stadium has been under construction since August and will be unavailable as a concert venue until December 2026. Furthermore, the Seoul World Cup Stadium is notorious for being difficult to rent. It has not hosted a solo concert since 2017, and it is difficult to coordinate schedules because it is primarily used as a sports facility. Since both stadiums were not built as specialized performance facilities, they also lack adequate sound systems.

The absence of large-scale venues is fatal not only for K-Pop singers but also for famous overseas artists visiting Korea. Post Malone, who visited Korea in September, held his concert at a 30,000-seat capacity by combining two halls at KINTEX in Goyang, Gyeonggi-do, due to the lack of large-scale venue infrastructure in Seoul. The Hyundai Card Super Concert, originally scheduled for December, was also canceled due to the lack of large-scale performance facilities.

The fact that K-Pop artists have fewer stages to perform on due to the lack of facilities is also a problem. An official from an inbound travel agency said, "Even if they aren't large-scale venues, if the number of performances increases through the expansion of performance facilities, we expect an increase in demand from K-Pop travelers, who tend to travel individually," adding, "Compared to K-Pop-related experience facilities and tourist attractions, there are few opportunities to directly watch the performances of singers, which can be the main purpose of a fan's trip."

Meanwhile, the CJ LiveCity Arena, a popular music venue that was aimed to be completed in 2024 with a capacity of 20,000 indoors and over 40,000 outdoors, saw its construction halted in April of this year, making its completion uncertain. While plans for new venues such as the Seoul Arena and Sphere Hanam are emerging, their completion is expected to be later than the reopening of the Jamsil Olympic Stadium, and it is anticipated that there will be difficulties in meeting K-Pop demand until 2027.

Source: Travel Times (https://www.traveltimes.co.kr)

These are English translations of articles from our GTTOUR Japanese website.