With BTS set to come back as a full group next year and BigBang eyeing a full reunion for their 20th anniversary, South Korea’s entertainment sector is bracing for a historic upswing.
The anticipated return of the two boy bands as full-member acts could drive record-breaking revenues across the South Korean entertainment industry in 2026, Hana Securities Co. said on Friday.
The momentum is already building.
Stray Kids, an eight-member boy group, wrapped a year-long world tour in July with stronger-than-expected earnings for JYP Entertainment Corp.
Blackpink, under YG Entertainment Inc., made a comeback in July with its new single Jump, a fast-paced electro dance track. The prominent K-pop girl group is currently on a global tour that runs through January.
“Except for 2024, when BTS was on hiatus due to military service, the K-pop industry has grown every year,” Lee Ki-hoon, an analyat at Hana Securities, said in a report released on Friday.
“With BTS set to resume full-group activities in 2026, the group is projected to generate revenue comparable to the combined earnings of YG Entertainment and JYP Entertainment,” he said.
After completing their mandatory military service, the septet is returning with a new album in spring 2026, followed by a full-scale world tour – their first since their 2022.
Lee also noted growing speculation around BigBang’s possible comback as a full group, approaching its 20th anniversary in 2026.
“Considering YG Entertainment recorded about 36 billion won ($25 million) in revenue in 2024, a year without full-group activities from Blackpink, a resumed BigBang tour is expected to generate earnings on a similar scale (to 360 billion won),” the analyst added.
YG is a label behind BigBang, from which Seungri departed in 2019.
Hana Securities maintained an overweight raiting on the Korean entertainment sector. For HYBE, he recommends increased exposure until its market capitalization reaches 15 trillion won, up from the current 11.14 trillion won.
Lee lifted his target price for HYBE by 12% to 145,000 won, indicating the stock has room to rise additional 50% from its closing level on Thursday.
He expects third-quarter earnings at YG Entertainment, SM Entertainment and JYP Entertainment to be in line with market consensus, while HYBE is projected to misse consensus due to elevated production tied to the debut of new idol groups.
By Yeonhee Kim
yhkim@hankyung.com
