Fortune, an American economic magazine, released an article on October 17 about how South Korea will be missing out on opportunities to earn billions of dollars with BTS's military enlistment.
Fortune cited a report published in 2018 by the Hyundai Research Institute and stated, "BTS was contributing more than $3.6 billion to the South Korean economy every year—equivalent to the contribution of 26 midsize companies."
According to the magazine, Hyundai Research Institute revealed that BTS was responsible for 1 out of 13 tourists who visited South Korea in 2017 and was responsible for an estimated 1.1 billion USD from merchandise and cosmetics in one year.
The magazine explained, "The band’s commercial success has also lined the pockets of its members. Collectively, BTS had a net worth of $50 million by 2020, according to Forbes. As well as contributing wealth to South Korea, the group has proved its ability to rock the country’s financial markets."
Fortune explained, "Between 2014 and 2023, analysts projected BTS would have contributed 41.8 trillion won ($29.4 billion) to the South Korean economy if the band maintained its popularity." Around the same time, the Korea Culture and Tourism Institute reported, "If BTS normally holds concerts in Korea during the 'post-COVID' period, the economic ripple effect per BTS performance will reach from 619.7 billion KRW (~435 million USD) to 1.2207 trillion KRW (~856 million USD)."
According to HYBE's announcement that BTS will be enlisting starting with member Jin, the group aims to restart group activities in 2025. The HYBE CEO Park Ji Won explained in a letter to shareholders, "In the short term, the members are scheduled for individual activities until the first half of next year. Also, fans will continue to be able to enjoy various BTS content that will be recorded beforehand."
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