K-pop fans from mainland China flock to Hong Kong for BLACKPINK’s concert, causing ticket prices to soar up to 4 million won in the black market.
According to Hong Kong’s South China Morning Post (SCMP) on January 4th, BLACKPINK’s Hong Kong concert tickets were sold out within two hours after the ticket sale period began in November last year. Since then, concert tickets have been traded at more than twice the original price on China’s secondhand trading site. The price of HK$799 (about 130,000 won) tickets rose to HK$2270 (about 370,000 won). The ticket for a VIP seat on the 13th row from the stage and various benefits, such as rehearsal entry, was sold at HK$25000 (about 4.06 million won). It is 8 times higher than the original price.
SCMP analyzed that the reason for the surge in ticket prices was that the demand from K-pop fans in mainland China increased as Hong Kong and China would resume cross-border travel from January 8th. Since late last month, when rumors of Hong Kong-China transport restoration circulated online, Chinese netizens on Weibo have already begun making posts seeking friends to go to BLACKPINK’s concert in Hong Kong together.
Rosa, who revealed to have been a fan of BLACKPINK for 4 years, said, “I bought a VIP ticket for BLACKPINK’s concert on the 15th for 3,500 yuan (approximately 650,000 won), and I have already booked flight tickets and hotels. I didn’t know the border would open so quickly. Once the announcement is made, the ticket price will go up.” Rosa added, “I am worried that I will not be able to enter Hong Kong due to the entry quota (limited per day).” A BLACKPINK fan living in Chongqing also said, “I am willing to pay a higher price for BLACKPINK’s concert ticket. I’m ready to renew my expired departure permit.”
SCMP said, “Chinese music fans, who had limited opportunities to see large-scale concerts due to the pandemic, are eager to visit Hong Kong to attend concerts with the opening of the border without hesitation at skyrocketing ticket prices.” Meanwhile, the border between China and Hong Kong, which was closed for three years after COVID-19, will open from January 8th. At the beginning of reopening, the number of people traveling between mainland China and Hong Kong will be limited to 60,000 each day.