[Featured Stock] BTS Meeting Biden at the White House... HYBE Up 5%

[Asia Economy Reporter Lee Seon-ae] The stock price of HYBE, the agency of the group BTS (Bangtan Sonyeondan), is rising on the 27th following news that BTS was invited to the White House in the United States.

At 9:20 a.m. on the same day in the KOSPI market, HYBE was trading at 224,500 KRW, up 4.66% from the previous trading day. In the early session, it rose more than 5%, reaching up to 226,500 KRW.

The White House announced the day before that President Biden will meet BTS at the White House on the 31st (local time) to discuss 'anti-Asian hate crimes' in celebration of Asian American, Native Hawaiian, and Pacific Islander (AANHPI) Heritage Month. The White House explained, "BTS, a global K-pop phenomenon and Grammy nominee from Korea, will join President Biden to discuss Asian inclusion and representation, as well as address the increasingly prominent issues of anti-Asian hate crimes and discrimination in recent years."

It is unusual for a U.S. president to invite an individual music group to the White House.

[Image source=AP Yonhap News]