March: BTS’s comeback that captured the world’s attention.
Fans around the world have been buzzing for weeks ahead of the “return of the kings,” which they have been waiting for 3 years and 9 months.
That enthusiasm was also reflected in actual figures.
According to the Ministry of Justice, the number of foreign visitors to South Korea from March 1 to 18 increased by more than 30%compared to the same period last year. The industry believes that BTS’s comeback was one of the key factors behind this increase.
The ripple effects were also clearly evident throughout the city center.
Actual increases in sales were confirmed in commercial districts popular with foreign tourists, such as Myeongdong and Gwanghwamun.
At the Musinsa Standard Myeongdong store, sales to foreign customers (based on tax-free purchases) reportedly increased by 127%from the 16th to the 19th compared to the previous week. The proportion of foreign customers visiting the store also jumped by 12 percentage points to 66% of the total, up from 54% the week before.
The atmosphere at the Myeongdong duty-free shop was also buzzing.
At the Shinsegae Duty Free Myeongdong branch, sales of Calvin Klein —the brand for which BTS member Jungkook serves as a global ambassador— increased by 240%from March 13 to 19 compared to the previous week.
The hotel industry also experienced a boom.
Major hotels in the Myeongdong and Gwanghwamun areas, including Lotte Hotel Seoul, Lotte City Hotel Myeongdong, and The Plaza Hotel, reported consecutive days of full occupancylast weekend.
The securities industry has projected that BTS’s comeback will generate an economic impact of at least 3 trillion won.
