BTS will perform free for the Busan Expo… The shocking reason why HYBE may have to pay all the costs and hold the concert voluntarily
The world-famous boy group BTS will be holding a free concert at Busan Asiad Main Stadium on the 15th of next month to help attract attention for the 2030 Busan World Expo.
However, a problem occurred from the start. It’s only a month left until the performance, but the problem related to the cost of the concert has not been solved yet.
The Korean Economy reported on September 7th that it is still undecided who will pay for the 7 billion won free concert BTS is preparing.
According to the report, it seems that many sides are delaying the process of paying 7 billion won to hold the concert.
Busan Metropolitan Government’s Bidding Committee, “We don’t pay it”
BTS’s free concert will be held under the name “BTS in Busan”. It is hosted and supervised by HYBE, BTS’s agency, and sponsored by Busan City. Busan EXPO Bidding Committee is also involved in some events.
An executive of the Bidding Committee announced that they would not support the cost of the concert. They answered briefly, “We know that HYBE will receive advertisements, sponsorships, etc., to cover the cost of the event”.
Another official from the Busan Metropolitan Government’s Bidding Committee also emphasized that they knew nothing about the cost of the concert. They explained, “Since HYBE is the organizer, cost-related inquiries must be answered by HYBE”, adding “The Busan Metropolitan Government shall provide a location as the sponsor organization and shall be in charge of administrative supports that are necessary for the event, such as transportations and accommodations”.
Even though the concert will be held free of charge with a good purpose in general, HYBE is responsible for all the costs.
BTS fans reacted, “Why do HYBE have to do everything for the EXPO concert? I can’t understand what the Busan Metropolitan Government is doing”, “HYBE saved Busan from getting drowned but look what Busan is doing to them”, “Just cancel the concert”, etc.
There’s only one month left until the concert but major companies are still claiming “We haven’t heard anything about it yet”
HYBE has announced its plan to cover the cost with sponsorships from several major companies that join forces to host the EXPO concert. However, the list of companies participating in the event has not been disclosed.
The problem is that many companies have not yet received requests for sponsorship from HYBE.
In fact, some companies even stated, “We have not received any requests for sponsorship, and no plan for supporting the concert has been decided yet.”
If HYBE does not receive sponsorships, they would have to cover all the costs in the process of hosting BTS’s Busan concert.
Source: insight
