S.Korea boy band BTS cancels April Seoul concert on coronavirus concerns (updated)

NH Investment & Securities Co

28/02/2020 03:02

(Adds IPO context)
    SEOUL, Feb 28 (Reuters) - South Korean boy band BTS canceled
its scheduled April concert in Seoul, amid growing concerns of
the new coronavirus outbreak, its music label, Big Hit
Entertainment, said on Friday.
    "The current global coronavirus (COVID-19) outbreak has made
it impossible at this time to predict the scale of the outbreak
during the dates of the concert in April," Big Hit said in a
statement.
    Four shows in Seoul's Olympic Stadium on April 11, 12, 18
and 19 were scheduled to lead a "MAP OF THE SOUL TOUR", in which
the seven-member boy band was due to visit 17 cities through
September including Los Angeles, Washington D.C., London and
Tokyo.
    The label said reserved tickets will be refunded in full.
    The cancellation comes after Big Hit chose JPMorgan Chase &
Co  JPM.N , NH Investment & Securities Co Ltd  005940.KS  and
others to handle its initial public offering (IPO), according to
media reports. Concerts, along with merchandise sold at
concerts, are one of the major revenue sources for management
agencies.  urn:newsml:reuters.com:*:nL4N2AO00D
    South Korea reported 256 new coronavirus cases on Friday,
bringing the country's total to 2,022 and 13 deaths.
 urn:newsml:reuters.com:*:nS6N29J00G
    The coronavirus originated in China before spreading to
another 44 countries.

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K-pop sensation BTS' label picks JPMorgan, others for IPO -media
    urn:newsml:reuters.com:*:nL4N2AO00D
South Korea reports 256 new coronavirus cases, total 2,022 -
KCDC     urn:newsml:reuters.com:*:nS6N29J00G
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 (Reporting by Sangmi Cha; Additional reporting by Hyunjoo Jin;
Editing by Himani Sarkar and Christopher Cushing)
 ((Sangmi.Cha@thomsonreuters.com; +82 2 3704 5646; Reuters
Messaging: sangmi.cha.thomsonreuters.com@reuters.net))