The Korean economy highly depends on K-pop as it is South Korea’s main source of income selling at least 57 million physical albums a year, which collects £8.8 million annually. Therefore, it is not an exaggeration to say that the Korean population are devoted to their stunning K-pop idols with their alluring choreographies, addictive songs, and enchanting music videos.
The process of becoming an idol is a roulette: it is both demanding and daunting as hard work does not always guarantee a debut -though only 10% of debuts are successful. Nevertheless, millions of aspiring singers and dancers audition for K-pop companies (like JYPE and SM Entertainment) in hopes of becoming the next global star. Some even sacrifice their education for the opportunity to perform. This reflects the societal influence of K-pop in South Korea; it is familiar amongst all generations and is promoted everywhere.
BTS, considered the most famous male K-pop group in the world, contributes more than £4 million to South Korea’s economy annually. As distinguished as they are, the members have suffered their own hardships, from an unremarkable debut, to consistent criticism from netizens. In ‘Break the Silence: The Movie’ (a film documenting their individual experiences whilst on the ‘Love Yourself’ tour) fans are exposed to the BTS’s vulnerable side, much different to their untouchable façade. When asked about their experiences at the start of their careers, member Kim Namjoon (RM) said, "I only remember feeling that there wasn’t anything I could do. Because there were so many things I didn’t know. My only job was to just do my best.” This demonstrates the intimidating uncertainty that young idols face once they have debuted -they can only hope for a fairytale-like success story like BTS.
From the anecdotes of idols in the industry, it is evident that the process of becoming an idol is nerve-racking, but can be eternally rewarding. These young adults are seen as representatives of the country and assets to the South Korean economy. They are diligent and committed to their craft, which is reflected through their captivating performances.
South Korea’s economy will continue to grow if there is a steady supply of demand for K-pop and its merchandise, and a maintained greatness in the industry’s idols. This may allow South Korea to rise in the global economic ranking, which can benefit the country’s trade and residents. It seems K-pop may be the solution to economic problems the country faces.
