BTS Concert Eve Sparks Shopping Frenzy as Merchandise Sells Out - Seoul Economic Daily Featured News from South Korea

BTS Concert Eve Sparks Shopping Frenzy as Merchandise Sells Out

Retail industry is heating up amid surging demand for BTS merchandise as the K-pop group's Gwanghwamun concert approaches. Global ARMY members—BTS's fan club—are preparing for the show by stocking up on light sticks and various goods, causing shortages at duty-free shops and driving up activity in secondhand markets. Department stores and other retailers are scrambling to capture foreign customers, anticipating the BTS boom will continue for some time. According to retail industry sources on the 20th, sales of BTS-related merchandise at Shinsegae Duty Free's K-pop specialty store "K-Wave Zone" surged 190% from March 11-17 compared to the previous week. Some items, including BTS keyrings and puzzles, sold out the day before. K-Wave Zone is a K-pop merchandise store that Shinsegae Duty Free has operated since January. As the concert date nears, the influx of overseas fans has driven up demand for related products. Rare merchandise unavailable through official channels is trading actively on secondhand platforms. According to local community app Karrot, average transaction volume for BTS light sticks called "ARMY Bombs" jumped 186% over the past three months compared to the previous three-month period. Search volume also rose 161% during the same period, reflecting heightened interest. Photo card transactions and searches increased 40% and 162%, respectively. Secondhand marketplace Bungaejangter also saw BTS merchandise-related searches surge 115% this year compared to the previous month, showing explosive demand growth. Notably, an unreleased Polaroid photo of BTS member Jungkook was listed at 5.3 million won, while a rare photo card of V appeared at around 800,000 won. The spillover effects from the BTS concert are spreading across the retail sector. Lotte Duty Free's Myeongdong flagship store saw foreign individual tourist sales rise 26% from March 11-17 compared to the previous week. The number of purchasing customers also increased 17% during the same period. Hyundai Duty Free's Incheon Airport and Trade Center locations recorded 29% higher sales and 21% more customers. The gains are attributed to overseas ARMY members arriving early before the concert and visiting duty-free shops first. As the Gwanghwamun concert approaches, retailers are ramping up promotional activities to a peak. Lotte Department Store is decorating its main store and Avenuel luxury wing with spectacular "Welcome Light" illuminations on exterior walls from the 20th through the 22nd, transforming the commercial district into a BTS theme zone. With foreign customer sales jumping 75% in the past week compared to the previous week, Lotte Department Store decided to extend the Welcome Light display by one hour on concert day. Hyundai Department Store plans to convert the first-floor pop-up zone at Hyundai Outlets Dongdaemun into a "K-pop Comeback Festa," anticipating an influx of foreign customers. The pop-up store, running until the 26th, will sell various K-pop merchandise including BTS's new album. Some companies are preparing for the long haul through April. After the free Gwanghwamun concert on the 21st, additional performances are scheduled at Goyang Stadium in Gyeonggi Province in April. Shinsegae Department Store is operating a pop-up store at its main store's "Heritage Museum" through April 12 as the only domestic retailer with an official Hybe collaboration. A retail industry official said, "BTS has dramatically increased foreign tourist numbers, creating unprecedented consumption effects. Sales growth is evident across the entire retail industry regardless of format."...

Samchundang Pharma Surpasses EcoPro as KOSDAQ's Top Stock - Seoul Economic Daily Featured News from South Korea

Samchundang Pharma Surpasses EcoPro as KOSDAQ's Top Stock

finance

Samchundang Pharmaceutical (000250) has overtaken EcoPro (086520) to claim the top market capitalization spot on KOSDAQ. This marks the first time Samchundang Pharma has held the number one position on the tech-heavy index. According to the Korea Exchange on the 20th, Samchundang Pharma was trading at 936,500 won, up 141,500 won (17.80%) from the previous trading day. The stock reached as high as 955,000 won during the session before paring some gains. The pharmaceutical company hit a 52-week high as shares surged, with market capitalization exceeding 21 trillion won. In the morning session, the stock surpassed Alteogen (196170) to rank second on KOSDAQ, then overtook EcoPro in the afternoon to become the index's leading stock. Securities analysts continue to give positive assessments of Samchundang Pharma's technology. The company announced the previous day that it had completed submission of an Investigational New Drug (IND) application for Phase 1/2 clinical trials of its oral insulin in Europe. The trial will compare the glucose control efficacy, bioavailability, and food effects of oral insulin (SCD0503) against subcutaneous insulin in Type 1 diabetes patients. Wi Hae-ju, a researcher at Korea Investment & Securities, noted in a report: "Type 1 patients lack endogenous insulin, making it easier to measure the glucose control effects of external insulin, but the absence of internal homeostasis systems creates significant hypoglycemia risk from the drug." Wi added: "The test insulin must have clear pharmacokinetics to complete clinical trials without adverse reactions." "Samchundang Pharma is estimated to have confirmed a certain degree of success potential in patients through separate pilot clinical trials," Wi pointed out. "Clinical results should be available by year-end. If successful, the company would move closer to developing the world's first oral insulin and could gain attention as a market game-changer." Wi further stated: "The U.S. contract for an oral Wegovy generic incorporating S-PASS (a platform technology converting injectables to oral formulations) is proceeding on track." The analyst added: "Interest in Samchundang Pharma remains inevitably high despite external uncertainties, as promised catalysts are being realized without setbacks."...

Korea Launches Task Force to Counter US Section 301 Trade Probe - Seoul Economic Daily Featured News from South Korea

Korea Launches Task Force to Counter US Section 301 Trade Probe

finance

The Korean government has activated a joint public-private response team to address the United States' initiation of a Section 301 trade investigation. The plan is to prepare in advance should the scope of the US investigation expand to areas such as digital trade. Yeo Han-koo, Minister for Trade at the Ministry of Trade, Industry and Energy, convened the 55th Trade Promotion Committee and the US Section 301 Public-Private Joint Task Force meeting in Seoul on the 20th to discuss response measures. The meeting brought together not only relevant government ministries but also major economic organizations and representatives from key industries including semiconductors, automobiles, machinery, steel, shipbuilding, and chemicals. "This Section 301 investigation appears to be primarily aimed at restoring reciprocal tariffs from existing trade agreements," Minister Yeo said. "However, we cannot rule out the possibility of additional Section 301 investigations in other areas such as digital trade, so relevant ministries must remain vigilant and respond in close coordination." Following the US Supreme Court ruling that reciprocal tariffs based on the International Emergency Economic Powers Act (IEEPA) were unlawful, the Trump administration immediately invoked Section 301 of the Trade Act to launch investigations against Korea and other countries. A government official explained, "Under Section 301 of the Trade Act, the US president has broad authority to impose tariffs after going through certain investigation procedures. This appears to be a tool to restore reciprocal tariffs previously agreed with various countries." Accordingly, the joint public-private task force launched on this day plans to focus its efforts on developing response arguments and establishing public hearing strategies by the July 15 deadline for submitting written comments in response to the US Section 301 investigation. "Going forward, the government will continue its efforts to minimize uncertainty for our economy and businesses under the principles of maintaining a balance of interests under the Korea-US tariff agreement and securing treatment no less favorable than that of major countries," Minister Yeo emphasized. Non-tariff barriers will be addressed through the Korea-US Free Trade Agreement Joint Committee. This follows an agreement reached during last year's Korea-US tariff negotiations to further discuss non-tariff barrier issues at the FTA Joint Committee. According to the Ministry of Trade, Industry and Energy, the timing of the Korea-US FTA Joint Committee meeting is still being coordinated....

Podcasts

View All
Front Page Unboxing March 16, 2026 (Mon) [ON AIR | Seoul Economics]

Front Page Unboxing March 16, 2026 (Mon) [ON AIR | Seoul Economics]

Start your day with essential insights on South Korea's economy. Our expert analysts break down the latest market movements, corporate earnings, policy changes, and industry developments that shape Asia's fourth-largest economy.

YouTubeDaily Updates
KDB Convenes Creditor Meeting for Yeochun NCC Restructuring

KDB Convenes Creditor Meeting for Yeochun NCC Restructuring

Korea Development Bank (KDB) will convene a voluntary creditors' council for Yeochun NCC after the petrochemical company submitted its business restructuring plan, the bank announced on Tuesday. The main creditor bank also confirmed that a financial support package for "Daesan No. 1," the first domestic petrochemical restructuring project, has been finalized. KDB said it would convene the creditors' council "as soon as possible" to review Yeochun NCC's restructuring plan and financial support request, and determine whether to designate the company as eligible for structural innovation support. On the same day, Yeochun NCC, Hanwha Solutions, DL Chemical, and Lotte Chemical jointly submitted a business restructuring plan to the Ministry of Trade, Industry and Energy under the Special Act f

Samsung Biologics CEO John Rim Wins Third Term

Samsung Biologics CEO John Rim Wins Third Term

Samsung Biologics CEO John Rim has secured his third consecutive term. Samsung Biologics announced that shareholders approved Rim's reappointment at the company's 15th annual general meeting held at Songdo Convensia in Songdo International City, Incheon, on March 20. Rim is now expected to lead the company through March 2029. Approximately 1,400 shareholders participated in the meeting, which was conducted both in person and via online livestream. The company said it supported shareholder voting rights by conducting electronic voting for ten days from March 10 to 19 for shareholder convenience. Five agenda items were presented at the meeting: approval of financial statements, amendments to the articles of incorporation, appointment of inside directors, appointment of outside directors a

Technology

View More →
Kakao Founder Kim Beom-su Maintains Innocence in SM Stock Manipulation Appeal

Kakao Founder Kim Beom-su Maintains Innocence in SM Stock Manipulation Appeal

The appeals trial began for Kakao (035720) founder and Future Initiative Center head Kim Beom-su, who was acquitted in the first trial on charges of stock price manipulation during the acquisition of SM Entertainment. The Seoul High Court's Criminal Division 4-1 (Presiding Judge Kim In-gyeom) held a pretrial hearing on April 20 for Kim, former Kakao Investment Head Bae Jae-hyun, Kakao Corporation, and Kakao Entertainment, all indicted for violating the Financial Investment Services and Capital Markets Act. As pretrial hearings do not require defendant attendance, Kim did not appear in court. Defense attorneys for Kim and Kakao reiterated that there was no intent to manipulate stock prices. "There were no discussions aimed at blocking the tender offer," the defense stated. "The stock pric

International

View All →
IEA Urges Remote Work, Speed Limits Amid Energy Crisis

IEA Urges Remote Work, Speed Limits Amid Energy Crisis

The International Energy Agency (IEA) has issued recommendations to reduce energy demand as oil prices surge following the closure of the Strait of Hormuz, which handles 20% of global crude oil shipments. On the 20th (local time), the IEA presented 10 recommendations that governments, businesses, and households can implement to mitigate the economic impact of oil market disruptions. While supply-side responses through reopening the Strait of Hormuz are important, the agency emphasized that demand-side measures are also necessary during this unprecedented energy crisis. The IEA focused primarily on road transportation, which accounts for approximately 45% of global oil demand. Recommendations include encouraging remote work and public transit use, and reducing highway speed limits by 10 k

Newsletter

Get the latest business news and analysis delivered to your inbox every morning.