I mean are we even shocked? South Korean boy band BTS are worth more than US$3.6 billion to the South Korean country’s economy every year (from 2018’s achievements and tours) equivalent to the contribution of 26 mid-sized companies a research institute said late last year.
The floppy-haired songsters were also the reason that one in every 13 foreign tourists visited South Korea in 2017.
Known for their boyish good looks and meticulously choreographed dance moves, BTS short for Bangtan Sonyeondan, which translates as Bulletproof Boy Scouts have become one of South Korea’s best-known and most valuable musical exports.
BTS the first K-pop band to top the US album charts, a sign of the genre’s growing global appeal. That appeal has helped boost the brand image of South Korean products abroad, the institute said, making BTS a valuable economic asset. Researchers estimated the group’s so-called annual production inducement effect – the total economic value generated by related industries – at 4.1 trillion won (US$3.63 billion)