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Many in South Korea reacted with shock and
dismay at Tuesday’s news that, with some of its seven members
approaching military service age, also triggered speculation
about the future of a band whose upbeat hits and messages of
youth empowerment have turned them into global stars. "I could
relate to them as they shed tears and honestly told us how they
felt," fan Nini Lee told Reuters from a café in Seoul where she
had gathered with other fans. "Their voice gave me huge strength
when I had tough times, and I'm no longer afraid of such
headwinds ...Now I want to give my voice of courage to them.".
Kim Young-sun, who runs the cafe, said she felt sorry that she
as a fan had only wanted more from BTS at a time when they were
struggling, wishing them a well-deserved break to recharge their
batteries.
BTS Leader and rapper RM, in a tearful video released on Tuesday
on the ninth anniversary of a group that last year became the
first Asian band to win artist of the year at the American Music
Awards, said he had "felt guilty and afraid" to ask for the rest
that he desperately needed. Singer Jimin said they were
struggling to find their identity in what he called an
"exhausting process," while RM also lamented that the K-pop
industry could not provide young artists with "time to mature".
On social media, some other fans blamed BTS' management group
HYBE for relentlessly pushing for new albums and other
moneymaking opportunities. The company did not immediately
respond to a request for comment. "The K-pop and idol industry
had long been running on a profit-making system where the stars
cannot take a rest even when they burned themselves out," said
Jung Duk-hyun, a South Korean cultural critic.
SHAREHOLDER 'DYNAMITE'
Tuesday's unexpected announcement fuelled anger among investors
in HYBE, which went public two years ago and whose shares
plunged 25% on Wednesday, wiping nearly 2 trillion won ($1.55
billion) off its market value.
"They've planted 'dynamite' in the hearts of shareholders," one
wrote on a Samsung Securities stock trading platform, referring
to one of the group's hit songs. HYBE shares had performed
relatively poorly in recent months, and the company's chief
executive and some BTS members unloaded stock totalling 10
billion won ($7.75 million) in December. All able-bodied South
Korean men are subject to about two years of military service,
and the oldest member of BTS, Jin, is required to begin his duty
next year.
A bill pushing for providing military exemptions to globally
renowned artists is pending in parliament, amid prolonged debate
over whether BTS deserves similar benefits that sport athletes
enjoy.
Lee Ki-hoon, an analyst at Hana Financial Investment Co. Ltd.,
wrote in a report that BTS' lack of public activity including
the impact of military service could result in a 750 billion won
revenue loss in 2023.
($1 = 1,290.1600 won)
(Reporting by Hyonhee Shin, Yeni Seo and Minwoo Park; Additional
reporting by Joori Roh; editing by John Stonestreet)
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