ETFs
BTS’s Jin Completes Mandatory Military Service: US ETFs That Let You Invest in Hybe Soar
Kim Seok-jin, professionally known as Jinthe eldest member of South Korean pop group BTS, completed his mandatory military service in South Korea.
What happened: Jin, 31, was discharged after 18 months of service, becoming the first BTS member to complete his mandatory duty. He appeared emotional as he hugged colleagues at a military base in Yeoncheon, Gyeonggi province, Reuters reported on Wednesday.
After his release, the actions of Hybe Co.., the label behind BTS, 1.01% in early trading while the benchmark KOSPI index rose 0.35%. US ETFs that invest in HYBE have also seen fluctuations.
ETF Ishares Msci South Korea (NYSE:EWY) was trading 0.72% higher in pre-market trading at $64.24, while IShares MSCI Emerging Index Fund (NYSE:EEM) was up 0.33% at $42.0. ETF JAKOTA K-Pop and Korean Entertainment (NYSE: KPOP) saw a slight rise of 0.12% in the market after hours on Tuesday and was trading at $14.85 after closing at $14.83.
Jin plans to celebrate his release with an event in Seoul on Thursday, where he will greet fans and perform. The group is expected to meet again in 2025, once all members have completed their military service.
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Why is this important: Jin’s completion of military service marks a milestone for BTS and their fans. The group’s hiatus from military service had a notable impact on Hybe Co., the agency that manages BTS. In September 2022, Hybe stock fell below its IPO price for the first time, losing approximately $10 billion in market value since its peak. This decline was partly attributed to the BTS members’ focus on solo projects and their looming military service deadlines.
Despite these challenges, BTS remains one of the most popular groups in the world, with 78.3 million subscribers on YouTube and 44.3 million followers on X, formerly Twitter.
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Image from Tinseltown via Shutterstock
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari