Details 05 February 2021
It’s easy to forget that the Korean pop (K-pop) industry only made its entry onto the Billboard album chart in 2018. Considered a breakout year for the industry, according to The Straits Times, the K-pop industry was then estimated to be worth US$5 billion. In 2020,
The Straits Times reported that BTS single-handedly brought in US$1.5 billion with its song Dynamite for the South Korean economy. Additionally, each of BLACKPINK s member is said to be worth over US$8 million. Fan fervour over the K-pop industry, has also attracted the attention of international brands, many of which are now clamoring to nab a piece of the pie. Just last month, we saw Coca-Cola, Prudential, and Pepsi tapping onto the prowess of the K-pop stars by signing on collaboration deals with the hottest names in the industry - BTS, BLANKPINK, and the newest entrant formed in 2019 SuperM, respectively.