 |
BTS. (Photo: Big Hit Music) |
[Alpha Biz= Paul Lee] The global K-pop sensation BTS will perform in Busan this June, coinciding with the 2026 Busan One Asia Festival (BOF), sparking interest in the potential economic impact on the region.
According to the Busan Tourism Organization on January 15, the BOF, Asia’s largest K-content festival, is scheduled for late June. With BTS concerts planned for June 12–13, both events are expected to extend the stay of domestic and international K-pop fans, significantly increasing local spending. A spokesperson for the organization said, “Since the two events will be held around the same time, we are considering linked programs. We anticipate a boost to the regional economy along with an increase in foreign visitors.”
The economic influence of K-pop is already well documented. BTS’s impact, often referred to as “BTSnomics,” is substantial. The Korea Culture & Tourism Institute estimates that each BTS concert generates between KRW 619.7 billion and KRW 1.22 trillion in economic benefits. The Hyundai Research Institute, based on 2018 data, estimated BTS’s annual economic value at over KRW 4 trillion, with a production inducement effect of KRW 4.14 trillion and a value-added inducement effect of KRW 1.42 trillion, accounting for approximately 0.3% of South Korea’s GDP.
Busan has already experienced such effects. During a BTS concert held in 2022 to support the city’s bid for the Expo, over 50,000 attendees were present, and tens of thousands more visited nearby events without entering the main venue. The local economic impact of that concert was estimated to exceed KRW 1 trillion.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
