HYBE Reaffirms Funding BTS Concert in Busan And Says Cost Is Not A Top Priority

HYBE reaffirmed its commitment to ensuring the success of BTS‘s Yet To Come Concert in Busan. On September 22, HYBE reiterated that the company and BTS would focus on “valuable results than costs” when participating in significant national events.

BTS’s free concert at the Busan Asiad Main Stadium on October 15 is being done in support of the city’s bid to host the 2030 World Expo.

HYBE’s statement was released in response to growing concern over the ₩7.00 billion KRW (about $5.01 million USD) budget for which the Busan government and the 2030 World Expo hosting committee have not allocated funds. BTS fans have then complained that BTS is being exploited by the government, which allegedly aims to get huge profits without contributing any funds for the show.

In response to media inquiries about the cost of the Busan Concert, we have stated that there will be high costs, and a significant portion of this cost will be covered by corporate sponsorship, online streaming advertisements, and the ancillary business of The City Project.

In addition, it was informed that the company decided to pay directly for the shortfall that could not be covered even with these methods of securing financial resources. BTS will also appear in this concert without any additional fee, and this will be done in a way that embodies the artists’ idea that they wanted to perform for free for many fans in the past.

— HYBE

HYBE then stated its commitment to bringing honor to the country without prioritizing expenses as an issue.

In the past, we and BTS have been participating in national events, large and small. We have participated with a will to contribute to the country and society and have not prioritized the issue of cost. We understand that the government’s financial resources cannot sufficiently cover the event’s expenses. In addition, the government’s support has always been carefully approached because the source of the government’s support is the people’s taxes.

The same is true for the cost of accompanying this Busan concert. Furthermore, we do not believe it is right to exhaust the resources given to us by government agencies and corporate sponsors, which were meant for the 2030 Busan Exposition on the Busan Concert.

—HYBE

HYBE also assured that the stage’s quality would remain high to create the best-expected results for the Busan Asiad and all events they handle. Making the best concert and value in hosting the 2030 Busan World Expo is the only goal HYBE and BTS aim for.

Source: Hive "BTS doesn't prioritize cost issues during national events" [Full text of official position] and Hybe says costs not top priority in hosting BTS' Busan concert