BTS enlistment will have an impact on the Korean economy

BTS News

Fortune – an American economic magazine recently published an article about how Korea will miss the opportunity to earn billions of dollars with BTS’s enlistment.

Fortune cites a report released by the Hyundai Research Institute in 2018 and said: “BTS contributes more than $3.6 billion to the Korean economy each year – equivalent to the contribution of 26 top-tier companies. central”.
According to this magazine, the Hyundai Research Institute revealed that BTS was responsible for 1 out of 13 tourists visiting Korea in 2017 and responsible for about $1.1 billion in merchandise and cosmetics in one year. five.
The magazine explains, “The commercial success of the band has also lined up the members’ pockets. Overall, BTS has a net worth of $50 million in 2020, according to Forbes. In addition to contributing assets to Korea The group has demonstrated its ability to rock the country’s financial markets.”
“From 2014 to 2023, analysts predict BTS will contribute 41.8 trillion KRW ($29.4 billion) to the Korean economy if the band maintains its popularity.”
At the same time, the Korean Institute of Culture and Tourism reported, “If BTS often held concerts in Korea in the post-Covid-19 era, the economic effect of BTS’s performance would reach from 619.7 billion KRW ($435 million) to 1.2207 trillion KRW ($856 million)”.
Following HYBE’s announcement that BTS will be enlisting in the military starting with member Jin, the group aims to restart group activities in 2025. HYBE CEO Park Ji Won explained in a letter to shareholders: “In the immediate future, the members have planned individual activities until the first half of next year. In addition, fans will continue to be able to enjoy various BTS content that will be recorded previously. “.