BTS 1.7 trillion won in economic effects.

1.7 trillion dynamite

The South Korean government analyzed the economic ripple effect of the new song "Dynamite" on the Billboard "HOT 100 Charts" on the 9th and estimated that it would reach 1.7 trillion won.

The estimate is based on the Korean government's analysis of the economic effects of 'Dinermite' by combining the sales volume of Big Hit Entertainment, the Bank of Korea's input output, the Korea Customs Service's import and export trade statistics, and the volume of 'Google Trends' searches.

 

hundreds of billions of associated induced effects

According to the analysis, direct sales from 'Dinermite' amounted to 245.7 billion won, and related consumer goods such as cosmetics, food and clothing increased to 371.7 billion won.

Based on the industry-related effects of these returns, the production inducement effect was 1.2324 trillion won, the value-added inducement effect was 480.1 billion won, and the employment inducement effect totaled 7,928 people.

The analysis results exclude the effects of attracting foreign tourists, considering that Corona 19 has limited overseas travel and no field concerts have been held at all until recently.Considering the fact that on-site concerts are impossible even in the process of calculating direct sales, the company reflected the reality by applying online concert sales, excluding tour sales.

The economic ripple effect is expected to increase further if these parts are included in the future and the upward trend of national image and national brand is considered further.

 

Rising international index due to Hallyu industry

BTS The international index also rose thanks to the remarkable growth of the Korean Wave content industry, including the movie 'Parasite'. On September 2, Korea ranked 10th in the Global Innovation Index (GII), which was released by the U.N.-affiliated WIPO.

It is the first time since 2007 when the index began to be released and the second highest ranking in Asian countries along with Singapore, which ranked eighth.In particular, the "creative goods and services index" related to cultural industry performance rose 23 notches from 42nd last year to 19th this year.

In detail, "Movie Production" rose sharply from 22nd to 13th, while "Culture and Creative Service Exports" rose from 54th to 53rd, "Entertainment and Media Markets" from 19th to 18th, and "Export of Creative Products" from 16th to 14th, respectively.

The analysis was conducted to show that the performance of BTS was significant economically, and their performance was well over that number.