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SEOUL -- K-pop band BTS has played a vital role as South Korea's cultural ambassador in boosting tourism and sales of cosmetics products. The economic value generated by BTS was estimated at 4.1 trillion won ($3.6 million) annually.
Data published by the Hyundai Research Institute showed that the global popularity of BTS attracted more foreign visitors to South Korea and brought a positive effect on exports of South Korean consumers goods.
About 7.6 percent of foreigners who visited South Korea last year was BTS-related, the institute said, adding 796,000 foreigners have visited South Korea annually to see the boy band's performances since its debut in 2013.
During the same period, annual sales of apparel and cosmetics products induced by BTS were estimated at $234 million and 426.6 million respectively. BTS was responsible for 1.7 percent of exports of South Korean consumer goods last year.
When the popularity of BTS increases by one percentage point, monthly exports of cosmetics rose by 0.72 percentage point, the institute said, suggesting foreign consumers were exposed to BTS-related advertisements and social media contents.
Park Sae-jin Reporter swatchsjp@ajunews.com
Park Sae-jin swatchsjp@ajunews.com
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