[Yonhap Photo]
SEOUL -- Construction of an 18,000-seat arena for K-pop festivals in Seoul was proposed as part of a government campaign to attract foreign tourists, capitalizing on the growing popularity of Hallyu (Korean cultural wave) led by BTS, which became the highest-ranked K-pop band on Billboard's weekly albums with "LOVE YOURSELF: Answer".
The idea of building a K-pop arena in Changdong in northern Seoul by 2023 was reported Monday at a meeting of top economic officials, which was chaired by President Moon Jae-in. The finance ministry said the project worth 528 billion won ($466 million) would be financed by private companies.
Policymakers suggested the arena could hold K-pop festivals twice a year, along with worldwide preliminaries to select those who would compete in Seoul and perform with K-pop celebrities. They benchmarked Sage Gateshead, a concert venue in North East England that opened in 2004 to host concerts from a wide range of internationally famous artists.
reporter
Lim Chang-won
cwlim34@ajunews.com
