The biggest boy band in the world is Joining the military it's true members Of K-pop phenomenon BTS will be Enlisting in the South Korean military The policy known as conscription Requires all able-bodied men in South Korea to serve its military for at least 18 months the band announced the Hiatus Through 2025 during their quote dinner Party back in June while the question of Conscription was top of mind for many The band framed their break as a pivot To focus on solo Pursuits when markets Open the following day investors began Dumping shares of bts's management Company which lost 1.7 billion dollars Of market cap in the first hour of Trading as the band's eldest member gin Neared the age of conscription questions Around the possibility of exemption Mounted Jin's age had already been the Impetus behind one revision to South Korea's military service act just three Days before the artist's 28th birthday What came to be known as the BTS law Adjusted the maximum age of conscription For K-Pop singers from 28 to 30 years Old on October 17th though the band's Label confirmed via Twitter that each Member of the global K-pop sensation Would complete his obligation to serve With jyn set to begin his service this November the impact of bts's Conscription is likely to extend beyond
An upset fan base with actual economic Consequences Physical and digital consumption Revenue Calculations found that BTS was the Number one Global recording artist in 2020 and 2021 with dozens of sold out Shows two Grammy nominations and four Tracks in the Billboard top 10 Best-selling U.S digital hits the power Of bts's worldwide success has brought Measurable prosperity to South Korea's Culture economy and industry it's known As the BTS effect after the band's hit Song Dynamite topped the Billboard 100 List the Korean culture and tourism Institute found that the BTS song Generated nearly 8 000 jobs and 439 Million dollars for the South Korean Economy A 2019 Hyundai Research Institute report Found that BTS was generating an Estimated 3.9 billion dollars in Economic value per year approximately 0.3 percent of the country's total GDP That's Revenue equivalent to about 35 Mid-sized companies South Korea's tourism industry ranks Among the top 60 countries worldwide and BTS brings in hundreds of thousands of Tourists to South Korea each year in 2017 one in every 13 of the country's Foreign visitors said DTS was the reason Behind their trip How the influence of BTS might taper
Going forward remains to be seen as each Of its seven members step back for music And into their new roles in the South Korean Armed Forces For fans of the band all hope is not Lost during an August parliamentary Session South Korea's defense minister Said I believe there will be a way for Us to give them the opportunity to Practice and allow them to leave the Country and perform anytime if they have Overseas concerts scheduled Until then listeners will have to rely On bts's nine Studio albums and 42 Singles to hold them over
