BTS, in particular, is regarded as having led this economic industry over the past ten years and generated enormous profits.
BTS is now pausing group activities for individual activities as it enters Chapter 2 of activities. Special members will also be enlisted soon and will serve until 2025. The oldest Jin’s recruitment event on December 13 sᴜrprisҽd both Korea and the rest of the world.
With BTS’s enlistment and cessation of group operations, foreign media remarked on the massive loss of Korean money caused by the loss of the “BTS” economic effect:
With the coverage of dramas (K-drama) and Korean music, the Hallyu (Korean popular culture) wave began to develop in the 1990s (Kpop). The process of this country’s “culture export” is becoming more favorable as BTS emerges as a global phenomenon due to its wide-ranging effect.
With the force of idol fandom, global admirers are willing to spend enormous quantities of money on albums, merchandise, concert tickets, travel, and a variety of other activities that benefit Korea’s economy. is distinct. Not only that, but the quantity of sales and revenues generated by BTS’s reputation in Korea is greater than that of several of the country’s enterprises combined.
According to Sports Seoul, BTS has been ranked top in Korea’s Most Powerful Star and Most Influential Boy Groups for at least 5 years. Later, the Korean Institute of Culture and Tourism issued a paper outlining the predicted economic impact from BTS concerts in the post-pandemic period.
The analysis calculates the total economic impact of BTS concerts, including concert tickets, product revenue, flight, transportation, and lodging expenditures for visitors who go to Korea to attend. BTS concerts should be attended. With only three days of concert, the economic impact ranged from 620 ƅillion to 1.22 trillion KRW.
Furthermore, it is believed that BTS performances provided approximately 10,800 jobs for individuals. This helps to lower the pandemic’s high number of unemployed Koreans.
Nonetheless, when BTS begins enrolling in the new year of 2023, Korea will face a significant economic gap. BTS’s group activities have been frozen, but some members can participate in individual activities and others must serve in the army.
The enlistment cannot but but have an impact on BTS, HYBE, and even Korea’s revenue. According to a foreign newspaper, Korea is expected to lose roughly 3.9 ƅillion UՏD after BTS enlists, with the harm lasting at least 2-3 years after BTS returns in 2025.
This revenue loss is also reported to be equivalent to 35 Korean mid-sized firms. This is an unparalleled loss number in the history of Kpop musicians joining in the army. It can demonstrate how powerful BTS is as a top K-pop boy group.
Not only that, but many individuals believe that Korea has been too passive in projects like as World EXPO 2030 and developing tourism potential, instead depending too heavily on BTS. Even if the group enlists in the army, they are expected to be summoned for unpaid national promotions.
Meanwhile, many people feel that BTS’s return in 2025 will demonstrate that BTS’s crown in Kpop is unrivaled. However, the heyday of K-pop girl groups appears destined to shine brighter in the future years, offsetting some of the national economic benefit.