|The idol group 'Black Swan' has been waiting for their debut but it has been postponed indefinitely as performances have come to a stop due to the coronavirus.(Profile photo for the PyeongChang Peace Festival : L-R: Hyemi, Judy, Youngheun, Leia and Fatou)|
[Asia News Communication = Reporter Reakkana] On the surface, the COVID19 pandemic didn't seem to affect the Kpop industry as BTS swept up the Billboard charts and Kpop continues its popularity globally. However, there is a part of the entertainment industry in the dark shadows where the COVID19 has taken a great toll. As events and festivals are canceled one after another, small and medium-sized companies are at a crossroads as new idol groups postpone their debut.
The idol group 'Black Swan' has been waiting for their debut but it has been postponed indefinitely as performances have come to a stop due to the coronavirus.DR Music CEO, Yoon Deung Ryong stated, "99% of small-sized agencies like us are almost bankrupt, it's difficult to stay afloat day by day. It's really threatening our livelihood. You can see that it costs approximately 20 to 30 million KRW ($17,000 to $25,600) a month while preparing the group. We're almost running out of funds."
These idols who have dreamed of becoming a singer since they were in their teens are now waiting until the Coronavirus pandemic comes to an end. Most of these idol groups have fans overseas and most of their income comes from overseas performances. About 34 agencies have closed since March of this year due to the COVID19 pandemic.(Soompi)