The economic effect produced by BTS’ stellar performance will likely expand further regarding South Korea’s improved image and brand value later, the ministry added. | TheKoreaHerald asianewsnetwork asianewsnetwork
SEOUL — An estimated 1.7 trillion won worth of economic effect is expected to be created by K-pop sensation BTS’ conquest of the Billboard Hot 100 chart last week, government data showed Monday.
Last week, BTS debuted at No. 1 on Billboard’s main singles chart with its latest English-language single “Dynamite,” becoming the first South Korean singer or group to achieve the feat.According to a report co-published by the Ministry of Culture, Sports and Tourism and its affiliate Korea Culture and Tourism Institute, the accomplishment is projected to generate 1.23 trillion won in value created in the production sector and 480 billion won in added value.
The value is measured by aggregated revenues of the septet’s label Big Hit Entertainment, customs and central bank statistics, and Google Trend data.
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