The members of the K-pop supergroup BTS will begin undertaking military service at the end of October to fulfill mandatory enlistment in South Korea. The country requires that all able-bodied men serve in the army for 18 months by the time they turn 28 years old.
In 2020, South Korea’s parliament passed a bill to allow popstars who “excel in popular culture and art” to defer their service until the age of 30. The band’s oldest member, Jin, turns 30 this year.
The group’s record label Big Hit Music confirmed the news in a statement on Monday.
“Since the creation of BTS over ten years ago, the band has risen to international success, broken records, and catapulted K-Pop into the global stratosphere,” Big Hit’s statement reads. “BIGHIT MUSIC has focused to the milestone moment when it would be possible to respect the needs of the country and for these healthy young men to serve with their countrymen, and that’s now.”
South Korea’s defense minister said back in August that the group will still be able to perform overseas while serving in the military.
According to a report by the Hyundai Research Institute in 2018, BTS was bringing in more than $3.6 billion to the South Korean economy every year.
Who Is The Richest BTS Member And What Is His Net Worth?
According to a 2020 Forbes report, all accolades, performances, royalties, world tours, and ads earned by BTS add up to a combined net worth of USD 50 million.
Apart from their 68,385 shares of the talent agency stocks, BTS makes a sizeable amount of revenue from album sales (digital and physical), world tours, streams, merchandise, and commercials.
With Map of the Soul: 7 (2020), BTS also set a record for the best-selling album in South Korea, selling over 4,440,800 copies as of March 2021. They have also dominated the global charts for music and have two Grammy nominations for Best Pop Duo/Group Performance (2022) and Best Pop Duo/Group Performance (2021). The boy band became the first Asian act to win the Artist of the Year award at the American Music Awards 2021 and performed alongside British rock band Coldplay.
However, in June 2022, BTS announced they will be pursuing their respective solo careers while rejecting claims of going on a hiatus or splitting up. This only means that individual members’ net worth is going to rise.
Jung Ho-seok, better known by his stage name J-Hope, is currently the richest BTS member, whose net worth is estimated at around USD 26 million, according to reports.
Suga is the second-richest BTS member with an estimated net worth of around USD 25 million, as per reports. The rapper has written and produced over 70 songs for BTS, IU, Psy, and other musicians. He has collaborated with Korean artists like Heize, Epik High, and Reflow as well.
Born Kim Namjoon, RM (Rap Monster) is the frontman, songwriter, and rapper of the boy band. He produces his solo music as well. According to the South China Morning Post, RM has been credited with over 170 songs, including the 2021 BTS hit “Butter,” of which he is the co-writer. RM’s net worth is estimated to be around USD 22 million making him the third richest BTS member.
Park Ji-min, popular as Jimin of BTS, is the group’s lead vocalist and dancer and the fourth richest member with a net worth of $20 million. The heartthrob has many records to his name, including the singles “Filter,” “Lie” and “Promise,” and he is one of the group’s most sought-after members. His fortune includes his share in HYBE stocks, apartments in the prestigious Nine One Hannam complex in Seoul, and royalties from BTS music as well as solo projects.
According to the South China Morning Post, South Korean celebrity Jungkook has a net worth of USD 20 million. Jungkook has co-produced BTS music and has been involved in making hit songs like “Love is Not Over” and “Magic Shop.”
Kim Taehyung aka V is the second-youngest member and songwriter of BTS and the 6th richest with a net worth of $20 million. A Times Now report stated that V holds the record for being the most searched Asian celebrity on Google for the first half of 2022.
The boy band’s oldest member, Kim Seok-jin, aka Jin, has made his fortune through business projects and music. Jin is also active as a soloist with “Awake”, “Epiphany” and “Tonight.” His net worth is reported to be approximately USD 20 million, and he hails from a wealthy family. He also owns HYBE shares and receives royalties from song credits.