Going for a song: investors flee to K-pop as safe haven amid Trump’s tariff war

News Snapshot:

Donald Trump’s imposition of a 25% tariff on foreign steel may have caused alarm among South Korean officials, but it has been music to the ears of one sector of the country’s export-led economy: K-pop. Investors have ploughed money into the industry, which is now being seen as a “safe haven” from Trump’s trade war with some of his country’s closest partners. As government officials warned of the potentially negative impact of the tariffs, given South Korea is the US’s fourth-biggest supplier of steel, shares in South Korea’s four major entertainment groups soared to their highest levels for a year....