HYBE Stock Prices Plummet Over BTS Military Enlistment

22 Sep, 2022 11:51 IST|Sakshi Post

HYBE’s stock prices are fluctuating following the recent decisions made by the K-pop group BTS. 

Back in June, when BTS announced a hiatus to focus on solo projects, the music production banner has suffered huge losses. 

HYBE's stocks went down by 25%, losing a market capitalization of ₩2.00 trillion KRW (about $1.44 billion USD). From a high of ₩294,000 KRW (about $212 USD), the stock price went down to ₩145,000 KRW (about $104 USD). 

On September 19, the stock price rose by 2.27% following the public opinion survey results that most respondents approved of alternative military service for BTS.

Realmeter had 1,018 respondents over the age of 18 from September 14 to 15 and found that 60.9 per cent of the respondents were in favour of the revision of the country’s Military Service Act, allowing artists who were acknowledged to uplift the country’s reputation globally to serve their mandatory military duties through alternative services.

However, that military exemption was given to professional athletes who brought international medals to the country and award-winning musicians. 

On Aug. 31, defense minister Lee Jong Sup said during a parliamentary defense committee meeting that the ministry planned to decide on BTS members’ military exemption based on public poll results. As a result, HYBE’s stock price increased by 6.76 percent, finishing at ₩182,000 KRW (about $131 USD). But the price plunged the next day again by 8.26% when the defense minister revised his comment, saying that nothing had been confirmed on how public poll results would be reflected in the government’s official decision.

In another poll on September 6, 54.1 per cent of the population said that even BTS has to serve the mandatory military service of the nation. This announcement has again badly hit the stock prices of HYBE. 

The eldest member of BTS already turned 30 last December and has been waiting for the official notice of enlisting in the military services. The national assembly is still in talks to increase the upper limit of the age cap to 33.

Also Read: BTS Touch to Rahul Gandhi's Bharat Jodo Yatra in Kerala

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