Idol Influence: Analyzing the Market's Reaction to K-Pop Brand Ambassadors
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In an effort to boost sales and increase market share, businesses are competing for partnerships with K-pop artists and celebrities as a result of the Korean Wave (Hallyu) phenomenon. This tendency is also evident in Indonesia, where foreign businesses seek to capitalize on the huge appeal of K-pop idols. This study looks at the influence of BTS, one of the biggest K-pop groups, as a brand ambassador for major corporations like Samsung, Coway, Hyundai, Puma, and Fila. Using secondary data, the study looks at changes in stock prices before and after BTS's endorsement. The findings demonstrate that the effect of BTS on stock price differs depending on the kind of relationship and marketing strategy each company uses with BTS. From a more general business perspective, however, there is no reliable or significant correlation between BTS's designation as a brand ambassador and shifts in the stock prices of the firms under investigation.
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