BTS Jungkook's Hat Worth 10 Million Won? The Incredible 'Fandom Economy'

Number of Subway Idol Advertisements, 76 in 2014 → 1,576 by September 2018
KTX 388m Entire Train Covered with Birthday Celebration Ads for Jungkook in 2020
'Deokjil' for Stars Creates New Consumption Trend

BTS member Jungkook. Photo by Yonhap News

[Asia Economy Reporter Han Seung-gon] Recently, a former Ministry of Foreign Affairs employee was caught after posting on a secondhand trading site that he was selling a hat worn by BTS member Jungkook for 10 million won. Separately, some have criticized, "No matter how popular the celebrity who wore the hat is, how can it be expected to trade for 10 million won?"

However, considering the 'fandom,' there is a strong public opinion that popularity directly translates into money. For example, given BTS's global popularity, a hat directly worn by Jungkook is estimated to be worth more than 10 million won.

Beyond simply supporting a particular celebrity, fans refer to the act of sending gifts and closely following every move of the star as 'deokjil' (fan devotion). When this deokjil accumulates, it forms a kind of 'consumption trend.' For instance, movies featuring popular celebrities can continue to sell out daily thanks to their fans.

Moreover, fandoms sometimes influence content or related merchandise. This is called 'prosumer' (producer + consumer). Unlike past fans who only watched and cheered from afar, they actively consume and exert powerful influence on the market.

Based on these trends, the hat Jungkook personally wore seems likely to be traded for 10 million won within the BTS fandom market. When a favorite celebrity has a birthday, fans spend anywhere from several million to tens of millions of won on subway advertisements. In other words, this is the 'fandom economy.'

KTX train covered with photos of BTS member Jungkook. Photo by Korea Railroad Corporation

◆ Subway screen doors, bus wrapping promotions... enormous spending for stars

Recently, BTS member V's Chinese fan club prepared a massive support event to cheer for the Busan concert. They held cup holder events and distributed 2,000 free fans at two cafe branches near the venue. 'Kim Taehyung Supporters Korea' distributed 'V reflective masks,' hot packs, bottled water, photos, and snacks.

From the 14th to the 27th, a giant LED screen advertisement video was broadcast at KTX Busan Station. The ad ran 158 times daily from 8 a.m. to midnight. V's advertisement was positioned above the escalator at the transfer passage connecting the train station and other transportation, maximizing exposure.

This fandom economy continues to grow. According to Seoul Metro and subway advertising agencies in 2019, the number of 'subway idol advertisements' increased as follows: 76 in 2014, 231 in 2015, 542 in 2016, 1,038 in 2017, and 1,576 by September 2018.

After Mnet's 'Produce 101 Season 2,' which produced Kang Daniel, the number surged 92% in 2017 compared to the previous year. Kang Daniel's fans launched massive promotions to help their idol debut.

Advertisement types are diverse, including subway screen doors, illuminated billboards, station posters, train car frames, and train car wrapping. The monthly cost for screen lighting ads ranges approximately from 2 to 3 million won on Line 1, 1.5 to 4.5 million won on Line 2, 1.5 to 3.5 million won on Line 3, 1.5 to 4 million won on Line 4, and 900,000 to 1.45 million won on Lines 5 to 8.

Additionally, stations with high foot traffic such as Seoul Samsung Station, Gangnam Station, and Hongdae Entrance Station, where fans can widely promote their favorite idols, have advertising costs reaching up to 4.5 million won.

There are also cases of utilizing entire trains or buses. Wrapping an entire bus, known as a 'moving billboard,' is common. As of 2019, advertising on a subway train for a month costs about 7.15 million won for one car on Line 3, and nearly 57.2 million won for all 10 cars.

Jungkook's fans, called 'I Dare U,' operated a so-called 'Kkukkubus' to celebrate his birthday. In 2020, 'Jungkook China' ran a train advertisement worth about 80 million won, covering the entire 388-meter KTX train with birthday messages and photos of Jungkook.

Recently, V's fans also advertised on all ticket gates at the Sports Complex subway station. Since many people use this station, they inevitably saw V's face and concert promotional messages, earning praise as an optimal support.

BTS advertisement displayed in the Seoul subway. The photo shows the BTS 6th anniversary advertisement from April 2020. Photo by Seoul Metro.

As the fandom market grows, its economic ripple effects are also expanding. The K-pop fandom economy is estimated to exceed 8 trillion won (according to IBK Industrial Bank of Korea) and is expected to grow further. According to the International Federation of the Phonographic Industry (IFPI), representing the global music industry, the K-pop and Korean music market showed a 44.8% increase compared to the previous year.

Considering that the MZ generation is flocking to 'metaverse' (3D virtual worlds) where fandom activities can take place, the fandom market is continuously expanding. Naver's 3D avatar platform 'Zepeto' recorded 13 million cumulative visitors in six months to the 'BLINK House' (Blackpink House).

BTS's agency HYBE's fandom platform 'Weverse,' launched in 2019, is also gaining popularity. As a membership-based service, Weverse provides a community function where fans and stars can communicate closely. In 2020, the year after its launch, Weverse's total revenue reached 330 billion won, about 44% of HYBE's total revenue (790 billion won). Hana Bank's 'Hana Culture' forecasted that the fandom market, evolving into an industry that creates economic value from teenage culture, will continue to expand as entertainment agencies use fandom culture as a core growth strategy.

This content was produced with the assistance of AI translation services.