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BTS announces shift to solo work, leading to a $1.7 bn rout in the market

Bangtan Boys, more commonly called BTS, made the announcement to pursue solo projects in a video posted on YouTube, which has already got more than 10 million views.

In the nine years since their debut BTS has racked up record-breaking hits and video views, including the fastest accumulation of No. 1 songs on the Billboard Hot 100 since Michael Jackson. (Photo: Bloomberg)
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In the nine years since their debut BTS has racked up record-breaking hits and video views, including the fastest accumulation of No. 1 songs on the Billboard Hot 100 since Michael Jackson. (Photo: Bloomberg)

Youkyung Lee | Bloomberg
Shares of Hybe Co., the agency that manages the South Korean pop phenomenon BTS, plunged by a record after the band said they’ll focus on individual projects for a while.
 
Hybe sank as much as 28% on Wednesday in Seoul, headed for its lowest close on record since its trading debut in October 2020 and wiping out as much as $1.7 billion in market value. The stock is down nearly 60% so far this year, significantly underperforming the broader equity benchmark amid uncertainties about the future of the BTS juggernaut.

In the nine years since their debut BTS