Estimated financial losses caused by the new coronavirus in South Korea’s arts and culture industry reached nearly 150 billion won ($124.9 million) during the first half of 2020, a report showed.

In a report assessing the financial damage in the culture industry during the January-June period, the Korea Culture & Tourism Institute estimated that 6,457 performing arts events, such as concerts and theater productions, and 1,525 visual arts events, such as art exhibitions, were canceled due to the pandemic.

Sales worth 148.9 billion won were estimated to have been wiped out from the industry over the widespread disruptions of culture events. Of those, 82.3 billion won in sales were lost in the performing arts sector while 66.6 billion won were nixed from the visual arts sector. (Yonhap)