No, it's a brand-new cloth. The stock price has barely moved since. All told, BTS is bringing in an estimated $5 billion a year to South Korea. Accuracy and availability may vary. June 17, 2022. in News. They could be used to reward progressive CEOs shaking up Korea Inc.s rigid culture and creating fresh wealth. Of all the jaw-dropping statistics out of South Korea, the splashiest is that K-pop sensation BTS is producingalong with hit songsa whopping $4.65 billion of gross domestic product. Fortune also reports that analysts say that the group, which made its debut in 2013, would have contributed USD 29.4 billion to South Korea's economy from 2014 . The trade mags profile of BTS is chock-full of jaw-dropping stats. But BTS's impact is not limited to that only. Private consumption was up by 1.9%, as expenditures on durable goods (e.g. The authoritative record of NPRs programming is the audio record. Japanese fans of BTS sharing mementos of the band at a cafe in Seoul on Wednesday. under the Creative Commons License CC BY-ND 3.0, may be used In the end, BTS's $4.65 billion is only . Well support you. South Korea gdp for 2019 was 165142B a 426 decline from 2018. Yes, Statista allows the easy integration of many infographics on other websites. sports and entertainment. Also in 2020, South Korea had a $160 . But, like Park Chan-Wook says, there is a major ripple effect. The second largest contributor to the countrys economy, Hyundai, still managed a contribution of 5 percent, not unusual for major high-tech companies. In just a day, the stock price of the groups management label, HYBE, plummeted 28 percent to 139,000 won or $108 its lowest price since the company went public nearly two years ago, shedding $1.7 billion in market value. motor . in the Philippines, Indonesia, Brazil and The Indicator. In 2013, Park promised show-stopping reforms. Of all the jaw-dropping statistics out of South Korea, the splashiest is that K-pop sensation BTS is producingalong with hit songsa whopping $4.65 billion of gross domestic product. Instead, shegot co-opted by the industryand then impeached. BTS fans queue outside Busan Asiada stadium to attend the band's free concert in South Korea on October 15, 2022. The fallout from BTS's announcement on Tuesday that the K-pop juggernaut would be taking a break as members explore solo careers was immediate and drastic. Thats a lot of books, T-shirts, dolls, cosmetics, and jewelry. U.S. President Donald Trump meets with South. New, Insights into the worlds most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development. A mural depicting RM, the leader of BTS, in Goyang, South Korea. Moon was elected to restore order and focus at a moment when Korea is falling in the charts. The seven-man sensation accounts for $4.65 billion of South Korea's GDP, landing it among Korea's top-grossing companies Samsung, Hyundai, and Kia. On 17 October, the group's agency, BigHit Music, announced . Although its not like I didnt anticipate this or was oblivious that this could happen, I still feel bitter, he said, explaining that his intentions were to communicate openly with fans on the groups reflections of the past decade and not to announce that the group was disbanding. Fortune also reports that analysts say that the group, which made its debut in 2013, would have contributed USD 29.4 billion to South Korea's economy from 2014 . 1. Sep-2022 Korea Long-term average = 100: . South Korea's economy expanded 0.3% QoQ in the three months to September 2022, growing at the slowest pace in a year as households and businesses held back on spending amid concerns about higher costs and rising interest rates. VANEK SMITH: And fans respond by buying everything BTS touches. Simply copy the HTML code that is shown for the relevant statistic in order to integrate it. The award was given to BTS for 2022. She says many of BTS's fans, A.R.M.Y., they connect with the band and with each other through the study of these songs. BTS, and K-pop in general, is a nice thing to have. Feel free to contact us anytime using our contact form or visit our FAQ page. HERMAN: Literally, like a linguistics class - so this word means this thing, but it also can relate to this situation in Korea and history. Park Chan-Wook is head of cultural industry research at the Korea Culture and Tourism Institute. They are the first band to do so since The Beatles. Driving the news: South Korea requires all men between the ages of 18 and 28 to serve about two years in the military, per the BBC. Well wait for you. An analysis of 2018 company revenues shows that even though BTS makes billions through album and ticket sales, but also by selling merchandise and attracting visitors to South Korea they do not come close to corporate money makers. and displayed without charge by all commercial and The band has not been shy about brand partnerships. daily and featuring the latest statistics from the media, Can I integrate infographics into my blog or website? Our standard is 660 pixels, but you can customize how the statistic is displayed to suit your site by setting the width and the display size. Anyone can read what you share. ARMY FOREVER. She says as big as having a song of the summer is - much less two songs of the summer - this is like a blip for BTS, which has been on a streak of success that's almost hard to fathom. Stacey Vanek Smith, host of our podcast, The Indicator From Planet Money, looked into the band that has become a global economic force, creating jobs, billions in revenue, even moving the needle on South Korea's GDP. News organizations reported that the group was not taking a hiatus but that group members were pivoting to focus more on their individual careers. BTS has become a global economic force. Were always here for you. VANEK SMITH: An online concert held by BTS during the pandemic brought in more than $70 million in ticket and merchandise sales. Here are a few, for starters: Meanwhile, the band comes in at number 43 on Forbess Celebrity 100 list with earnings of $57 million in pretax income over the last year. No Korean has brought this huge of an economic impact n South Korea. This chart shows contributions to South Korean GDP by companies and pop group BTS. In April, the video for Boy With Luv broke a YouTube record when it sailed past 100 million views in less than 48 hours, and BTSbecame the first Asian band to surpass 5 billion streams on Spotify. Need infographics, animated videos, presentations, data research or social media charts? please include a backlink to the respective infographic URL. 2. proper attribution to Statista. Stacey Vanek Smith, NPR News. . In 1997, their debt excesses helped topple the entire economy. First came Lee (2008-2013), aformer CEO of Hyundai Group's engineering and construction business. Both protected the status quo. Artist of the Year. By 2020, the group was contributing $3.5 billion annually to the nation's economy, according to the Hyundai Research Institute. The groups fans, who call themselves Army, swarmed social media in expressing support and anguished distress over the news. South Korea gdp for 2018 was $1,724.85B, a 6.22% increase from 2017. Reports in South Korean media outlets were quick to link the announcement to the fact that Jin, the oldest member of the group, would need to enlist for mandatory military service by the end of this year. That's around half a percent of the country's entire economy. So did wildly popular soap operas like Winter Sonata, which morphed actor Bae Yong-joon into an Asia superstar. The group will remain active in various different formats, according to the statement. 1 albums on the Billboard 200 chart in less than a year. . and over 1Mio. GDP grew 0.3 percent in the third quarter compared to a quarter earlier. As per Vanek Smith, the total contribution of BTS to South Korea's economy is an estimated USD 5 billion per year or "around half a percent of the country's entire economy." Fortune also reports that analysts say that the group, which made its debut in 2013, would have contributed USD 29.4 billion to South Korea's economy from 2014 to . As per Vanek Smith, the total contribution of BTS to South Korea's economy is an estimated USD 5 billion per year or "around half a percent of the country's entire economy.". Fans were particularly confused by the term hiatus, which was used in the English translations in the original video. The "economic cost" was computed in an 18 October report on fortune.com. VANEK SMITH: BTS fans are known as A.R.M.Y., and there are huge groups of A.R.M.Y. please visit our agency website, Your contact to the Infographics Newsroom, Find your information in our database containing over 20,000 reports, Find a brief overview of all Outlooks here, Tools and Tutorials explained in our Media Centre, A recent article by U.S. magazine Hollywood Reporter, Our infographics team prepares current information in a clear and understandable format, Relevant facts covering media, economy, e-commerce, and FMCG topics, Use our newsletter overview to manage the topics that you have subscribed to. MICHAEL HE, BYLINE: I'm terrible at Korean, but VANEK SMITH: Wait, you learned Korean for BTS? To realize his trickle-up growth pledge, Moon should offer tax holidays to would-be tech unicorns. Seoul should help develop a bigger and more risk-friendly venture capital industry. South Korea gdp for 2020 was $1,637.90B, a 0.82% decline from 2019. As a subscriber, you have 10 gift articles to give each month. We dont have any thoughts of breaking up, he said, adding that BTS still had plans to perform in the future. Follow this author to stay notified about their latest stories. Beatles on the charts, invite The Hollywood Reporter to Seoul, where they open up about performing in Saudi Arabia, South Korea gdp for 2020 was 163790B a 082 decline from 2019. 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. BTS's popularity is fueling tourism to Korea, study of the Korean language, interest in Korean movies, television, fashion and food. Idol+ Popularity. In 2020, BTS won a deferral allowing them to put off their military service until they were 30. Likewise, certainpolitical clichsare befalling Moons tenure. The seven-member South Korean boy band is creating jobs, billions in revenue and even moving the needle on South Korea's GDP. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook
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