A "Hallyu" or "Korean Wave" pop concert due to be held in Japan has been canceled after the company organizing the event filed for bankruptcy.
The event, originally scheduled for June 30 and July 1 at the Hyogo Prefectural Tajima Dome, was to feature KARA, Rainbow and Choshinsung. However, the event has been cancelled after the company organizing the event, Infini Japan, filed for bankruptcy, Nikkan Sports reported.
Credit reporting agency Tokyo Shoko Research estimates the debt of Infini Japan to be in the range of tens of millions of yen. Rumors of poor ticket sales have also been circulating in the Japanese press.
In a statement to the press, DSP Media, the company that manages KARA and Rainbow, said: "We were surprised to see the announcement in the Japanese press. We have not received official confirmation from the company in question. We feel the fans have been hurt the most and we apologize to everyone who was disappointed by the cancellation."© Japan Today