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Home Latest News BTS' New Single Racks up Billions, Boosts Economy Within 3 Weeks

BTS’ New Single Racks up Billions, Boosts Economy Within 3 Weeks

"Dynamite" is BTS' first all-English song. This chart-topper marks the first time a South Korean musical act debuted at the top spot.

Korean boy group Bangtan Sonyeondan, or better known as BTS, recently released their new single “Dynamite.” As of writing, the music video posted on YouTube has already racked up 315 million views, and just last week, the group performed their brand new song at the Video Music Awards (VMAs).

The video of their live performance at the awards show has already reached 29 million views worldwide. This is a true testament as to how big BTS has gone in a span of seven years, going from small venues to stadiums all around the world.

But it’s not just BTS and their fans who are benefiting from the group’s groundbreaking success. That’s because even the South Korean economy and culture have gained from the K-pop group’s immense popularity. (Read: 3 Korean Dishes to Relive Your Best K-Drama Moments)

Here are three ways BTS has helped South Korea with its worldwide success.

Improved economic activity.

Due to their popularity, BTS has sparked hundreds of thousands of people’s interest to learn more about South Korea. This has gained the country more revenue as more individuals purchased items from their country. A study by the South Korean Ministry of Culture, Sports, and Tourism, in collaboration with a government tourism institute, said that “Dynamite” alone is projected to generate over $1.4 billion or 1.7 trillion won for the country.

The study added that if foreign tourism was to be included in the number, “we expect the economic impact to be stronger.”

Increased sales of South Korean products

bts-helping-south-korea-economy
Photo from My Silver Signal

With their endorsements and collaborations, BTS has attracted millions of sales of South Korea-made cosmetics, clothing, and even food. The previously mentioned study claimed that because of the K-pop group’s popularity and their endorsements, over 600 million won worth of cosmetics will be sold, and over 180 million won in food.

Another study done in 2018 said that BTS alone contributed over $1.1 billion to consumer goods exports of South Korea. That’s around 1.7% of the entire export of the country for that year. It is also said that all items that were positively affected by the BTS phenomenon are considered important exports of South Korea.

More jobs provided.

bts-helping-south-korea-economy
BTS With Their Staff (Video screenshot from Her Jams YouTube)

With their rising popularity, BTS has paved the way for 8,000 new jobs to be created in the country. This is due to the fact that the group’s newest single debuted at number one on the Billboard Hot 100, the world’s biggest music market.

Dynamite is BTS’ first all-English song. This chart-topper marks the first time a South Korean musical act debuted at the top spot.

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