BTS 'hiatus' costs HYBE: Korean company lost USD 1.7 billion, later clarifies word was mistranslated

Korean music company HYBE, which represents K-pop superband BTS, lost $1.7 billion of market value within the first hour of stock trading on Wednesday (June 15) following the band's hiatus announcement. On Tuesday, June 14, the seven group members announced that they are going on a hiatus -- via a translator -- to pursue solo work, which almost instantaneously knocked HYBE shares in South Korean trade down by nearly 28 per cent, reports 'Variety'.

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