The globally mega-popular K-pop band BTS members will be serving in the South Korean military and to come back together as a group around 2025 after complete their service.
Fortune cited a 2018 report by the Hyundai Research Institute that said, “BTS contributes more than $3.6 billion to the South Korean economy annually, equivalent to the contribution of 26 mid-sized companies.”
BTS Members Serve Military Will Affect Tourism, Merchandise and Cosmetics in South Korea
According to the magazine, the Hyundai Research Institute revealed that BTS was responsible for 1 out of 13 tourists who visited South Korea in 2017 and generated about $1.1 billion in revenue from merchandise and cosmetics in a year.
The magazine explained: “The band’s commercial success also keeps its members’ pockets full of energy. According to Forbes, BTS will have a combined net worth of $50 million by 2020. In addition to contributing wealth to South Korea, the combination has also demonstrated its ability to impact the country's financial markets.”
Fortune explained: “Between 2014 and 2023, analysts expect BTS to contribute 41.8 trillion won RM139 billion) to the South Korean economy if it maintains its popularity.” Around the same time, the Korea Culture and Tourism Institute reported, “If BTS normally holds concerts in South Korea during the ‘post-epidemic' period, the economic chain reaction of BTS per performance will be from 619.7 billion won (RM2 billion) to 122.07 million won (RM4 billion).”
According to HYBE's announcement that BTS will be enlisting from member Jin, the group aims to resume group activities in 2025. In a letter to shareholders, HYBE representative Park Ji-won explained, “In the short term, the members will conduct individual activities. Until the first half of next year. In addition, fans will continue to be able to enjoy various pre-recorded BTS content.