'BTS Economy' Takes Effect

In recent years, the K-pop group BTS has grown into one of the biggest musical acts in the world.

But on top of selling out stadium concerts, their worldwide popularity is also benefiting the economy back home.

For example, BTS held major events for their fans for four days in June.

About 100,000 local and international fans showed up for the events, which took place at large venues in Seoul and Busan.

Economists found that due to the success of these fan meetings, Seoul and Busan generated 481 billion won in economic growth during those four days.

That included the money spent by the fans for food, lodging, and souvenirs, as well as the operating costs of the large-scale events.

Indeed, economists have found many ways that the K-pop group is having an impact on the Korean economy.

According to one think tank, the group stimulates the domestic economy by about 5.6 trillion won every year.

Much of this so-called "BTS economy" comes from a direct impact on tourism and sales of products promoted by the boy band.

For instance, about 800,000 additional tourists seek out Korea annually because they became fans of BTS, and together they end up spending about 1.3 trillion won during their visit.

In addition, the boy band's presence has had an indirect effect on the sales of various products.

Foreigners especially show more interest in Korean clothes and cosmetics whenever BTS makes the news, even if the K-pop group did not directly promote them.

"It is extraordinary for one musical group to have such an influence," one economic analyst said.

"It also shows the role that hallyu can have for Korea, economically and even politically."

 

• venue  ˈvenjuː  (콘서트·스포츠 경기·회담 등의) 장소

• grow into  …로 성장하다.

• sell out  다 팔리다[매진되다]

• popularity  |pɑːpju│lærəti 인기   popular  |pɑːpjələ  인기 있는 (↔unpopular)

• generate  ˈdʒenəreɪt   발생시키다, 만들어 내다

• lodging  |lɑːdʒɪŋ    임시 숙소, 하숙   lodge  lɑːdʒ    (옥외 스포츠 활동을 하면서 머무는 시골의) 오두막[산장]

• souvenir  |suːvə│nɪr   (휴가지 등에서 사는) 기념품[선물] (=memento)

• have / make an impact on  ~에 영향을 주다

• stimulate  ˈstɪmjuleɪt   자극[격려]하다, 활발하게 하다 ,  흥미[관심]를 불러일으키다, 흥분시키다, 고무하다

• so-called   소위, 이른바 ,  흔히 …라고 일컬어지는

• come from   …에서 생겨나다(=originate). ,   ~ 출신이다(고향이나 사는 지역을 나타냄)

• impact  ˈɪmpækt  (강력한) 영향, 충격

• promote  prə|moʊt 촉진[고취]하다 (=encourage)  홍보하다  promotion  prə|moʊʃn  승진, 진급

• seek sb / sth out  (특히 많은 노력을 기울여) ~을 찾아내다

• presence  ˈprezns    (특정한 곳에) 있음, 존재(함), 참석 (↔absence)  present  prɪˈzent  현재의, 현 … (→the present day) /  선물

• extraordinary  ɪkˈstrɔːrdəneri   이례적인 , 기이한, 놀라운 (=incredible) ,  보기 드문, 비범한, 대단한 (→ordinary)