BTS DENY they split up after hiatus announcement wiped out 34% of label’s market cap

BTS DENY they split up after hiatus announcement wiped out 34% of label’s market cap

K-pop icons BTS have denied they are splitting just a day after announcing a “hiatus” that has since wiped out 34 percent of their record label’s market cap.

The South Korean band now insist Tuesday’s statement was “lost in translation” after apparently saying they were taking a break to pursue solo projects.

While bandmates will pursue solo projects, they will remain an active group for the foreseeable future, it has been claimed.

According to TMZ, BTS stepped down, sparking rumors they were tricked into staying together after their announcement caused record label HYBE shares to plummet 34 percent. That wiped out nearly $2 billion from the company’s market cap.

The hugely successful band, who have a notoriously large and hysterical fan base, sparked a frenzy following the announcement on Tuesday during their annual FESTA dinner.

In a speech in Korean with English subtitles celebrating the band’s 9th anniversary, band member RM said it was time for her to work alone and announced a “temporary hiatus”.

But music fans have heard the “temporary hiatus” line from other bands in the past and fear it’s a way of gently breaking the news of a breakup to fans.

BTS sent their label’s millions of fans and investors into a frenzy following Tuesday’s announcement during their annual FESTA dinner celebrating their nine years together

But the management of the popular South Korean band debunked those reports on Wednesday, saying the message was lost in translation While bandmates will pursue solo projects, they will remain an active group for the foreseeable future, they said

But the management of the popular South Korean band debunked those reports on Wednesday, saying the message was lost in translation. While bandmates will pursue solo projects, they will remain an active group for the foreseeable future, they said

Her label HYBE reported that its shares plummeted 25%, losing nearly $1.7 billion of its market value

Her label HYBE reported that its shares plummeted 25%, losing nearly $1.7 billion of its market value

On Tuesday, the popular South Korean band announced they were on a “temporary hiatus.”

Members Jungkook, 24, Jin, 29, RM, 27, V, 26, Suga, 29, J-Hope, 28, and Jimin, 26, broke down in tears during the Festa video while discussing making a Taking time off to grow. ‘

V said during the video, “J-Hope has told me this before, we could focus on our solo work this time, and later when we meet as a group, that synergy was like no other.”

On South Korean live streaming app VLive Wednesday, bandmate Jungkook reportedly addressed the “misunderstanding” on video.

No official English subtitles were added to the hour-long streaming video.

A BTS representative told Rolling Stone that the group will not disband, but that some members are pursuing their own projects.

The rep also told the outlet that BTS will be shooting a video for Run BTS in the coming months.

Tuesday’s unexpected announcement fueled anger among HYBE’s investors.

“They planted ‘dynamite’ in the hearts of shareholders,” wrote one on a Samsung Securities stock trading platform, referring to one of the group’s hit songs.

HYBE shares had performed relatively poorly in recent months, and the company’s CEO and some BTS members sold shares totaling 10 billion won in December.

“I always thought BTS was different from other groups, but the problem with K-pop and the whole idol system is that they don’t give you time to mature,” RM said in the FESTA video.

“You have to keep making music and doing something.”

And Jimin added, “We can’t help but think about our fans, no matter what, we want to be the kind of artists our fans remember.

“I think now we’re starting to think about what kind of artists we all want our fans to remember.”

“I think that’s why we’re going through a difficult phase right now, we’re trying to find our identity and it’s a tough and long process.”

V insisted it wasn’t a split, adding that “later on when we gather again as a group, this synergy will be like no other”.

J-Hope then said: “I think we should spend some time apart to learn to be one again. I hope you don’t take this negatively and see it as a healthy plan. I think BTS will get stronger this way.

SUGA then spoke up, “It’s not like we’re breaking up!”

They say goodbye to their old life... for now: it won't be the same as it used to be, but they'll get back together later

So many tears: Many band members had to wipe away tears at dinner

1655337406 557 BTS DENY they split up after hiatus announcement wiped out

So much emotion: Several of the band members cried and tried to comfort each other, occasionally cracking a smile

After the video was shared, V shared a note with Weverse.

“Over the past decade, we’ve never stopped looking up at what to expect… Now this is just the beginning, the first steps we’re taking to ensure we stay together as a bangtan for a long time to come.”

‘He added, ‘The purple cord that holds ARMY and Bangtan together is strong and will never break.’

Individual members already have a lot to do: Jung Kook released a solo single called My You on Sunday.

And J-Hope has been announced as headlining Chicago’s Lollapalooza festival in July. Suga has released solo mixtapes for the past several years.

BTS is a South Korean boy band formed in 2010 and debuted in 2013. They are also known as Bangtan Boys.

In December 2021, they said they needed some time off to recharge. And they also took a little break in 2019.

US visit: BTS was spotted at a White House press briefing with White House Press Secretary Karine Jean-Pierre in Washington, DC in May

US visit: BTS was spotted at a White House press briefing with White House Press Secretary Karine Jean-Pierre in Washington, DC in May

In 2021, the group’s management company, Big Hit Music, said in a statement: “We would like to inform you that BTS is planning a second official extended hiatus since their first in 2019. BTS remained active to engage with fans in 2020 and 2021 amid the Covid-19 situation, achieving dazzling results to cement themselves as the world’s top artists.

2019 also revealed that the band needed some time.

“This lull will be an opportunity for the members of BTS, who have relentlessly moved toward their goal since their debut, to recharge and prepare to re-imagine themselves as musicians and creators,” it said at the time.

“This will also give them the opportunity to enjoy the ordinary life of young people in their 20s, albeit for a short time.”

New Song: Earlier this month they released the music video for Yet To Come (The Most Beautiful Moment) off their compilation album Proof.  Seen in April

New Song: Earlier this month they released the music video for Yet To Come (The Most Beautiful Moment) off their compilation album Proof. Seen in April

On Friday, the group released their latest album Proof, a compilation that pairs some of their biggest hits with rarities and unreleased songs.

Accompanying the new hits pack was a video for newly released single Yet To Come (The Most Beautiful Moment), showing the members in a serene desert setting.

The cover art for BTS’ new album features the group’s logo, two trapezoids shaped like half-open doors, though they’ve been flanked by several more abstract white shapes against an all-black background.

“The BTS Anthology Album, which embodies the story of BTS, will be released as they begin a new chapter as an artist who has been active for nine years to look back on their endeavours,” read a statement from the BTS management group Big Hit Music Last month.

“The three-disc anthology album Proof contains many different tracks – including three brand new tracks – that reflect the members’ thoughts and ideas about the past, present and future of BTS,” it concluded.

The septet previously hinted at the album’s release date at their residency shows in Las Vegas in April.