Shares in South Korea’s entertainment groups soar as steel tariffs combine with a Blackpink world tour and BTS revival to supercharge their appeal

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.