It is a known fact that K-pop, which is a pop music culture originating from South Korea, has become very popular in recent years. Artists and music groups coming out of the country are followed fondly by millions of people all over the world. It would not be wrong to say that perhaps the most successful of these is the group called BTS, which was founded in 2013 and consists of 7 members.
The members of the group, which broke records in many subjects and has millions of fans around the world, decided to take a break in the past months and focus on their own projects. Now, there has been a new development that will upset the fans of the famous group.
BTS members will enlist in the military
It has been discussed for months whether BTS members will be able to enlist in the military. South Korea, which is experiencing tensions with North Korea, requires all men between the ages of 18-28 to enlist in the military and serve for approximately two years. In this regard, exceptions can be made for some people, such as athletes who have won international medals, such as the Olympics, and top classical musicians. Pop music artists, on the other hand, do not have such a situation.
However, a decision that came into force in the country in 2020 provided for pop stars’ military service to be postponed for 2 years and exempted until the age of 30. At that time, the reason for the decision in favor of BTS, whose oldest member turned 28 years old, was that these people ‘contribute to the country’.
Now it has been announced that BTS members will be enlisting in the military. Accordingly, BTS’ oldest member Jin (Kim Seok-jin), who will turn 30 in December, will be the group’s first enlistment. Other members will do their military service in the future. This means that the group’s activities will cease for a while. According to the statements, BTS will meet again around 2025.
Following this announcement, the shares of HYBE, the record company that includes BTS, fell. Shares fell 2.5% in one day. The news of the group taking a break and focusing on their own projects in the past months also caused a 28% drop in the shares. What has happened since June has made the company lose about half of its market value.
BTS contributed billions of dollars to the South Korean economy every year.
It should also be noted that there are those who want to be exempted from military service because BTS makes a serious contribution to the South Korean economy. The country’s former Minister of Culture, Tourism and Sports, Hwang Hee, also stated in his previous statements that it would be a great loss for BTS members to enlist in the military.
According to research, BTS makes a huge contribution to the South Korean economy. Research by the Hyundai Research Institute showed that group members contributed $3.6 billion to the country’s economy. In addition, the study also stated that a significant part of the tourists coming to the country came thanks to the group. In addition, analysts revealed that BTS could contribute $29.1 trillion to South Korea between 2014 and 2023.
In other words, the data you can see shows that BTS has a great impact on the South Korean economy. Although it is said that different artists can close this gap, it can be predicted that the two-year hiatus may have some negative consequences, especially considering that the effects of COVID have diminished.
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