South Korean boy group, BTS decided to serve in the military after a long time allowing the issue to become a public discussion. The first member to undergo military service is Jin, followed by other members according to a schedule that they will determine for themselves. BIGHIT Music, as management, predicts that BTS will only be promoting as a group again in 2025.
This news not only shocked ARMYs, but also all high-ranking officials in South Korea. Since its debut, BTS' music has been heard quite widely throughout Asia. Until 2017, their music began to be accepted globally. Since then, BTS has received various names. Starting from the biggest boy band in the world to the successor to the Beatles because of their huge number of fans around the world.
BTS has received various international awards. In fact, they were twice nominated at the 2022 Grammy Awards. The success of BTS has also brought benefits to South Korea in various sectors. Especially after last weekend BTS held a concert in Busan to help their efforts to host the 2030 World Expo. This further shows the strength of BTS which is not just entertaining fans with their music.
In 2018, the Hyundai Research Institute estimated that BTS had contributed more than USD $3.6 billion annually to the South Korean economy. This figure is equivalent to the contribution of 26 mid-level companies. Research experts from Hyundai also said that BTS brought one in 13 tourists who visited South Korea in 2017. From the trade sector, BTS contributed around USD $1.1 billion through goods such as merchandise to cosmetics within a year.
Between 2014 and 2023, analysts project BTS could contribute USD $29.1 trillion to the South Korean economy. This success of course also benefits BTS, which is said to have a huge fortune of USD $50 million or around Rp. 772 billion. The announcement of BTS ' military enlistment also had a big impact on HYBE's stock.
Quoted from Fortune, the number of their shares is said to have fallen by 2.5 percent. Meanwhile, Jin will release a single at the end of October 2022 before serving in the military. Jin became the second member of BTS to officially debut solo after J-Hope. Previously, J-Hope released a solo album titled Jack in The Box. After that, J-Hope was asked to close the 2022 Lollapalooza music festival as the first Korean artist to appear on the main stage.
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