BTS, one of the most sensational South Korean boy bands in the world has been trending this week as the high-flying brand announced their sad goodbye to music for the next 3 years.
The break comes as the group prepares to go on a three-year break for mandatory military service, but there are sparks that the break of one of South Korea’s most lucrative icons can affect the country’s economy drastically.
Under South Korea’s conscription system, the country requires all able-bodied men to serve at least 18 months in the armed forces by age 28, due to ongoing threats from North Korea. Many have pleaded the case of exemption due to the brand’s enormous financial contribution to the economy and international prestige, but unfortunately, their management company announced on Monday that they will continue to deliver their due diligence as citizens and serve almost 2 years in the military.
The announcement effectively ended the debate on whether they should be granted exemptions because of their artistic accomplishments, but immediately sparked concerns regarding the amount of money that will be lost due to their absence.
The economic impact of the group is undeniable. A 2018 Hyundai Research Institute estimated that the K-pop sensation’s contribution to the South Korean economy amounted to $3.6 billion annually as well as accounting for 1 out of every 13 tourists that come to South Korea from another country in 2017.
Four years later, having grown exponentially with their influence in fashion, music, and arts the value of the group would be far more than double that of 2018. According to a Forbes report, their YouTube channel alone can generate up to $2 million a month. Which in addition, makes up for $29 billion that could have been generated if the band stayed as popular as they are now.
So, understandably, the news of their enlistment created fear of loss of revenue for the country, given BTS’s influential position in the rise of Korean cultural products globally.
What the absence of BTS means to K-Pop, Army, and South Korea?
Perhaps, in one way, it can be an equaliser in society – symbolising that the rich and famous do not get a pass. Exceptions exist, though, and many have wondered why BTS did not qualify, given their contributions to South Korean culture and economy. Although exemptions are authorised they are only allowed within an extremely limited scope. Only athletes, classical musicians, and dancers who have fulfilled certain requirements – such as winning the gold medal at the Olympics or Asian Games – are allowed to forego military service.
The logic goes: These competitive wins help raise Korea’s national prestige. Those in sports and some of the arts are also usually at their prime during their youth, so they should be allowed to work uninterrupted towards securing those laurels.
But in an era where Korean companies like Samsung, Kia, and Hyundai have made their mark globally; when films like Parasite are considered landmark achievements of global cinema; and when K-pop and K-drama stars help promote everything from Korean skincare to cuisine, why should athletes and classical artists be seen as the sole flag-bearers of a country? This rationale is curious.
BTS’s songs often capture the experience of being a young person in the 21st century, and they are known for having a diverse, massive fan base spanning across barriers of language and culture. Perhaps in a time when such wonders are possible, it has come as a greater shock that policymakers are still reluctant to change.
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