Netizens Weigh In On Fortune’s Claim That Korea Will Lose 5 Trillion Won Yearly Upon BTS’s Enlistment
Recently, BIGHIT MUSIC confirmed that BTS would fulfill mandatory military service, with Jin initiating his enlistment process as soon as the schedule for his solo release is concluded by the end of October. Other group members will carry out their enlistment service according to their individual plans.
BTS’s contribution to the Korean economy has been proven since way back in 2018 through a report released by the Hyundai Economic Research Institute, which states that BTS contributed an estimated ₩5.10 trillion KRW (about $3.55 billion USD) to the Korean Economy every year. The same report mentioned that in 2017, one in every thirteen tourists visited Korea because of BTS. In addition, there were earnings of ₩1.58 trillion KRW (about $1.10 billion USD) from exports and consumer goods, such as commodities and cosmetics.
Citing this same report, Fortune Magazine claims that with BTS’s enlistment, Korea loses the opportunity to earn the estimated ₩5.00 trillion KRW (about $3.48 billion USD) per year while BTS is gone. However, HYBE Corporation, BIGHIT’s MUSIC’s mother company, has given a statement through its CEO Park Ji-won, who said in a letter to shareholders, “In the short term, individual activities of some (BTS) members are scheduled until the first half of next year.”
Netizens have commented on this Fortune Magazine claim, prioritizing protecting Korea’s sovereignty against any perceived economic loss. Some have stated that the BTS enlistment actually boosts the morale other young Korean men.
Other netizens feel that putting a price on BTS’s enlistment somehow lessens the relevance of the other young men’s enlistment, since they do not offer as significant a “contribution” to the Korean economy.
Meanwhile, a teaser for Jin’s new single “The Astronaut” was already released, and the song, a collaboration with British band Coldplay, will be released on Friday, October 28.
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