K-pop BTS group activity suspension sends shock waves

South Korea has been shocked by the announcement that K-pop stars BTS are suspending their activity as a group.

The globally popular BTS announced on YouTube on Tuesday evening that the members will shift their focus to solo projects, but the group will not disband.

When the news broke, shares of the group's management company tumbled nearly 25 percent from the previous day on the South Korean stock market.

Local media predicted chaos in the K-pop market, and reported that the BTS hiatus is likely to have a huge impact on pop music and popular culture not only in South Korea, but around the world.

Yonhap news agency reported the group had trouble planning future projects because the members needed rest and the oldest member faced mandatory military service.

The management company has explained it will promote the members' solo projects, while keeping BTS alive as a group.