It was analyzed that the economic ripple effect of the group BTS' ranking first in the US Billboard single chart'Hot 100' for the first time as a Korean singer reaches 1.7 trillion won and has the effect of creating jobs close to 8,000 people.
The Ministry of Culture, Sports and Tourism, together with the Korea Culture and Tourism Research Institute, analyzed the economic ripple effect of reaching the top of the billboard'Hot 100' with the new song'Dynamite' on the 31st of last month (local time). It was announced on the 7th that the effect of inducing added value is estimated at KRW 232.3 billion and KRW 488.1 billion.
According to the detailed analysis results, the amount of direct sales from this'dynamite' is estimated to reach 2457 billion won.
In addition, the increase in exports of related consumer goods such as cosmetics, foodstuffs, and clothing was KRW 371.7 billion, ranking first in'dynamite'.
In addition, the direct sales to profits and the increase in consumer goods exports resulted in a production induction effect of KRW 1,2324 billion, a value-added effect of KRW 488.1 billion, and a total of 7,928 employees.
Non-face-to-face concerts such as'Bangbang Con the Live' are expected to account for 198.3 billion won.
This figure is the result of a comprehensive analysis of the sales volume of BTS' agency, Big Hit Entertainment, the input calculation table of the Bank of Korea, the import and export trade statistics of the Korea Customs Service, and the Google trend search volume.
The Ministry of Culture, Sports and Tourism said, "This economic effect seems to be mixed with the effects of the continuous achievements that BTS has accumulated, rather than being the No. 1 Billboard effect of a single sound source."
Minister of Culture, Sports and Tourism Park Yang-woo said, "The achievements of BTS have far exceeded this number. Their music is a kind of healing agent for people suffering from Corona 19 and Korean cultural pride."
(Reporter Jihye Kim, SBS Entertainment News)