September 08, 2020 13:30
The global success of boy band Bangtan Boys' latest single "Dynamite" is expected to generate about W1.7 trillion worth of economic ripple effects, according to the Ministry of Culture, Sports and Tourism on Monday (US$1=W1,188).
The single, which shot to the top of the U.S.' Billboard Hot 100 chart is estimated to rake in W245.7 billion in direct sales and W371.7 billion in exports of merchandise. It is also estimated to create 7,928 jobs.
The guesstimate is based on sales data from the group's management agency Big Hit Entertainment, statistics from the Bank of Korea and the Korea Customs Service and search data from Google Trends.
"Expected revenues from offline concerts and foreign tourists were not included due to the coronavirus epidemic," said a ministry official.
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