Hyundai Card CEO Regrets Missing Taylor Swift's South Korea Tour
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| American singer-songwriter Taylor Swift. Photo from Swift's Instagram |
Hyundai Card CEO and Vice Chairman, Chung Tae-young, expressed regret for not securing Taylor Swift's 'The Eras Tour' in South Korea.
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| American singer-songwriter Taylor Swift. Photo from Swift's Instagram |
According to Korea JoongAng Daily, Chung, aged 64, expressed his regret on Instagram after attending Taylor Swift's concert in Tokyo, Japan. "I should’ve brought the concert to Korea and heard ‘Hello, Seoul’ instead of ‘Hello, Tokyo,’" he wrote.
Chung has played a pivotal role in bringing numerous international music stars to South Korea through Hyundai Card’s Culture Project, including Beyoncé, Bruno Mars, Coldplay, Lady Gaga, and Paul McCartney. The absence of Swift’s tour is notable among these achievements.
He also highlighted the challenges South Korea faces in hosting large concerts, particularly due to the lack of suitable venues. Seoul’s Jamsil Olympic Stadium, accommodating 45,000 spectators, is undergoing renovations until 2026, while Gocheok Skydome, with a capacity of 25,000, is also being refurbished.
Furthermore, despite its seating capacity of approximately 66,700, the Seoul World Cup Stadium has stringent restrictions on non-sporting events to preserve the soccer field.
In contrast to the 55,000-seat capacity of Japan’s Tokyo Dome and Singapore’s National Stadium, which were the only two stops of "The Eras Tour" in Asia, South Korea's venues face limitations.
Chung also shared photos from his visit to different sections of the Tokyo Dome, highlighting the significant economic impact of Swift’s concerts on the host cities, as reported by Chosun Daily.
U.S. financial authorities coined the term "Swiftonomics" to underscore the considerable economic contributions of Swift’s tour last year. Forbes estimated that the U.S. leg of the tour alone generated over US$5 billion in consumer spending.
CNN reported that Swift’s concerts in Tokyo were expected to have a $226 million economic impact, highlighting the missed economic opportunity for South Korea.
Swift, 35, last performed in Korea in February 2011 for her "Speak Now" world tour.
Thai Prime Minister and Finance Minister Srettha Thavisin expressed regret for missing the opportunity to have Swift perform in Thailand, as he was unaware that Singapore had offered between US$2 million-3 million per performance to secure its position as the sole stop of the tour in Southeast Asia.
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