China to host 1st all-Korean pop concert in years, Yonhap says

Nearly a decade after China imposed an unofficial ban on K-pop performances in the mainland, Beijing appears to be lowering one of the non-trade barriers that kept South Korea’s cultural phenomenon out of the country. South Korean boy band Epex is now gearing up for a concert in China next month, raising expectations that Beijing may ease restrictions on K-pop culture in the mainland, Yonhap News reported today. Those bets helped propel a rally in South Korean entertainment stocks, with K-pop stocks helping charge the small-cap Kosdaq Index higher. JYP Entertainment Corp. jumped nearly 4% and SM Entertainment advanced about 2% as of 11:10am, local time. The timing may be coincidental, but it adds to growing evidence that China is seeking to improve relations with regional partners as countries grapple with increasingly hostile and unpredictable trade policies under U.S. President Donald Trump. Last month, trade chiefs of South Korea, China and Japan met in Seoul, where they renewed calls for an open, fair flow of goods and pledged to deepen economic ties. Signs of a cultural thaw The concert, scheduled for May 31 in Fuzhou, marks the first performance in nine years in mainland China by a K-pop group composed entirely of Korean nationals, Yonhap said. K-pop stars with foreign nationalities have occasionally appeared on Chinese television shows, it added. The band’s management, C9 Entertainment, did not immediately respond to a request for comment. China’s Ministry of Culture and Tourism didn’t respond to a faxed request for comment. China imposed the so-called “K-wave ban” in 2016 in retaliation for Seoul allowing the U.S. military to deploy a missile defence system called Thaad, or Terminal High-Altitude Area Defense. Before the restrictions, China was among the fastest-growing markets for K-pop. But the reported move raised doubts among curious Chinese fans, and some took to the social media asking “has the Korea ban been lifted?” The economic impact of cultural exchange Epex’s plans come as some Korean movie and K-pop stars have cautiously resumed their activities in mainland China. Some attended a Ralph Lauren fashion show in Shanghai, holding fan meet-ups in major cities that have been shunned since China’s ban. Korean producers have also begun talks over content exports, while there have been no official approvals on the Korean dramas yet by the Chinese government. Bucking the global stock rout, entertainment stocks have been among the biggest gainers in the Korean equity market this year, driven by expectations they will be shielded from tariff wars. SM Entertainment shares have rallied more than 60% so far this year while YG Entertainment jumped more than 40%. By Shinhye Kang and Hyonhee Shin

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China to host 1st all-Korean pop concert in years, Yonhap says