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HomeBreakingThe "massive" advantage to the Korean economy from BTS's potential comeback.

The “massive” advantage to the Korean economy from BTS’s potential comeback.

On April 20, leader RM was the last member of BTS to return to Korea from the US to speed up preparations for the group’s comeback after nearly a year since “Permission to Dance” was released last July…
Previously, HYPE Entertainment announced that BTS would release a new album on June 10. The return of BTS caused a storm on social networks. The global Army (BTS fandom name) continuously shared information and expressed joy, looking forward to the 7 boys’ return.
Coverage of “global group” BTS
The Korea Agency for International Cultural Exchange recently released the “Korea Wave Market Research Report 2021”, based on the survey results from June to December last year, in 15 countries/territories. The selected survey subjects represent Kpop artists’ songs within the past 5 years.
According to the report, the main keyword of the Kpop wave is “BTS”. On social platforms like Reddit, Soompi, Fandom, IMDb and Rotten Tomatoes, discussion related to the keywords “BTS” and “Blackpink” is always high. In particular, in North America and Europe, foreign media focused their attention on these two groups to the extent that they rarely reported on Kpop other than BTS and Blackpink.
Big Hit Music released statistics that the concerts of BTS’ “Permission to Dance on Stage – Las Vegas” series in the US, which took place in April, attracted about 624,000 spectators. Line. JTBC News assessed the great connection power of the 7 boys who turned Las Vegas into a “BTS city” during the concert series.
During the difficult time of the epidemic, the messages of Kpop artists also had a positive impact on the development of the Korean wave, such as BTS’s speech at the United Nations General Assembly.
The Korea Agency for International Cultural Exchange commented, “BTS and Blackpink have gone beyond their activities as K-pop artists and provided a voice that can form a great consensus on the common values ​​of humanity”.
The ability to make “terrible” money after the COVID-19 pandemic
In a report published on April 20, the Korean Institute of Culture and Tourism analyzed that BTS can create a vast “economic effect” after the pandemic” if they regularly hold concerts in the country.
The report estimates that each BTS concert can bring profits ranging from 677.9 billion won to 1.22 trillion won. If 10 concerts are held, the economic efficiency will reach 12 trillion won (more than 222 trillion VND).
This estimate was analyzed by the Cultural Industries Research Center by aggregating projected concert ticket sales, revenue from merchandise sales, and consumer travel, travel, and accommodation expenses. Travelling abroad when coming to Korea to attend BTS concerts.
The Korea Institute of Culture and Tourism predicts that the percentage of international audiences who go to see BTS concerts in Korea will increase from 20% to 50%. When this ratio reaches 50%, the economic profit can reach 1.22 trillion won, and the value-added effect is 579.6 billion won. At the same time, BTS concerts are estimated to create about 18,815 jobs for the staff.
This analysis used BTS concerts as an example, but it shows that holding K-pop concerts can significantly impact the Korean economy. So we can get through the pandemic more quickly by improving areas related to culture and tourism, starting with the popular music performance industry.”
Aware of the enormous economic profits BTS can bring, the Korean public also shows their support for the group HYPE Entertainment.
According to the Korea Herald, in a survey of 500 adults nationwide conducted by Realmeter, 65.5% of respondents agreed that BTS members should do military service instead. (switching to art or sports staff), while 30.2% opposed and 4.3% expressed that they are not sure.
6 out of 10 Koreans support alternative military service to BTS. At the same time, the majority of the public agrees that the group will contribute to improving the nation’s global standing through alternative artistic duty rather than performing traditional military service.



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