Thousands of fans of BTS mark the K-pop supergroup’s anniversary, with all but one member now finished with their mandatory military service and a return to performance likely imminent.
The septuplet BTS, South Korea’s most lucrative musical act, has been on a self-described hiatus since 2022 while its members separately completed their military service, which is mandatory in the South for all men under 30.
Thousands of fans of the K-pop supergroup have been gathering in Seoul this week, as four members of the band wrapped up their army duties and reentered civilian life.
A final member SUGA, who was doing alternative service for health reasons, is due to be released next week.
The main event is being held in a massive event space in Goyang, just outside of Seoul, with local authorities saying they had set up “photo spots” across the entire city, “turning the whole city into an extended festival stage”.
“We warmly welcome ARMY fans from around the world who will be visiting the city,” said mayor Lee Dong-hwan.
Fans have also been gathering in Seoul outside the group’s agency HYBE’s headquarters, which have been wrapped with the slogan “WE ARE BACK”.
With the fan frenzy in full swing, a Chinese woman was briefly detained, police said Thursday, for a possible attempted break in at BTS singer Jungkook’s luxury apartment in Seoul, just hours after he was released from military service.
– HYBE happy –
The fans may be excited for a reunion, but no one is more thrilled by the pending return to performance of BTS than their agency, HYBE, which stands to see a sharp rebound in earnings.
Before their military service, HYBE’s CEO Lee Jae-sang said that the band’s contribution to the company’s revenue was exactly 95 percent, adding that “as of 2024, it is estimated to be under 20 percent”.
But analysts are predicting a surge in profits with the group’s return.
“HYBE recorded its first earnings decline during BTS’s military service period, but with the group’s full return, profits are expected to grow by around 150 percent over the next two years through 2026,” said Lee Ki-hoon, an analyst at Hana Securities.
“With BTS resuming a large-scale world tour, HYBE’s operating profit is projected to rise 71 percent on-year to 462 billion won ($340 million) next year,” Hwang Ji-won from IM Securities told AFP.
The comeback also coincides with signs that China’s unofficial ban on Korean pop culture — imposed in retaliation after Seoul allowed deployment of a US-made THAAD missile defence system — may be easing under South Korea’s new administration.
South Korea’s new President Lee Jae-myung took office in a snap election last week, promising a more pragmatic diplomacy than his hawkish predecessor.
If so, experts say, with China being a key market for K-pop, concert attendance is expected to soar.
“Considering the scale of the tour that was cancelled in 2020 due to COVID-19 and the pent-up demand, the group (BTS) is expected to draw at least 3 million concertgoers,” added Hwang.
