Latest news with #AsiaEconomy
Pink Villa
11 hours ago
- Business
- Pink Villa
BTS estimated to have 1.2 trillion KRW impact with one full group concert following SUGA's military discharge, report
The globally renowned boy band BTS, celebrated for shattering records, commands an enormous online following, with their musical comebacks and concerts generating revenues in the trillions. Recently, on June 16, the K-media outlet Asia Economy explored the potential economic impact BTS could have in 2025, following a full group comeback after SUGA's military discharge. They also provided an estimate of their projected annual earnings. BTS to have trillions of KRW worth impact with a single concert in 2025? A recent report from the Korea Culture and Tourism Institute revealed that the economic impact created by a single BTS concert could amount to as much as 1.2 trillion KRW. It is a massive amount, given that the group's last full-group concert was in October 2022. Furthermore, projections indicate that the group's anticipated annual sales could reach approximately 1.87 trillion won. It highlights the immense ripple effect they can produce with a single musical comeback or concert. The estimated figures are derived from a previous analysis conducted when the English single Dynamite topped Billboard's primary single chart in 2020. At that time, the Ministry of Culture, Sports and Tourism, in conjunction with the Korea Culture and Tourism Institute, calculated the economic impact to be roughly 1.7 trillion KRW. Meanwhile, the American economic publication Forbes estimated that BTS's yearly contribution to South Korea's GDP amounts to approximately 4.65 billion USD, equivalent to around 5 trillion KRW. Furthermore a late 2018 report from the Hyundai Research Institute valued BTS's yearly economic contribution at more than 4 trillion KRW, comparable to the economic output of 26 medium-sized firms. Breaking down the figures, the institute estimated the production-induced impact at 4.14 trillion KRW and the value-added effect at 1.42 trillion KRW. Notably, this economic contribution represents about 0.3% of South Korea's GDP. BTS' 2025 full-group reunion and activities The entertainment industry is currently abuzz with speculation regarding the potential announcement of BTS' group activities. Many fans feel that a world tour might precede the release of new music, potentially including the group's solo hits and fan favorites in the setlist. During then the boy band is also expected to be preparing for a brand-new full-length album, their first since the 2022 compilation album Proof.
Bloomberg
27-05-2025
- Business
- Bloomberg
Big Take Asia: The Dollar's Dominance Is Unwinding
As Donald Trump tries to remake global trade, the dollar's historic dominance in Asia is under pressure. After Taiwan's currency saw the biggest surge against the dollar in almost 40 years in early May, some money managers are saying the spike signals the acceleration of a bigger trend of moving investments back home. On today's Big Take Asia Podcast, host Rebecca Choong Wilkins talks to Bloomberg's Ruth Carson about what's driving Asia's shift away from the greenback and what a rewiring of global financial ties means for the region's biggest economies.
