About 18 trillion dong of economic value will be created if the boy group HYBE holds a concert in Korea.
In the recent report, the Korean Ministry of Culture and Sports discussed the importance and values that the Hallyu wave has brought to the kimchi economy through the fields of music and movies. cuisine in recent years.
Thanks to the global popularity of Hallyu, the profit from exporting content to the international market has reached 12.45 billion USD (about 293.5 trillion VND) in 2021, once again showing the importance attention from audiences around the world for Korean entertainment. The report also reveals that over 80 million K-pop albums have been sold worldwide in the last year alone. The number of fans also increased significantly when reaching 156.6 million in 2021, 17 times more than in 2011.
In particular, the biggest factor must be mentioned BTS with influence on a global scale, including in difficult markets like Western countries. Only in the group’s 4-day concert series – “Permission To Dance on Stage” in Las Vegas, BTS attracted millions of spectators with revenue reaching 131.5 billion Won (about 2,363 billion VND). Industry experts also hypothesized that if such a grand concert was held in Korea, the boy group HYBE would create an estimated economic value of 1 trillion Won (18 trillion VND) for the land. water.
In addition, the land of kimchi also possesses potential “cards” including representatives who have made names at home and abroad such as Black Pink, TWICE, Stray Kids, NCT or Seventeen. In the context of the market without BTS in the near future due to military service, industry insiders believe that this is an opportunity not to be missed for these groups to strengthen their position on the Kpop map, and at the same time become a opportunities for rookies to grow up together. Since then, they are expected to contribute to the growth of the Korean economy like what the boy group HYBE has been doing all this time.