|K-pop Band BTS (billboard.com)|
K-pop band BTS hit No.1 on the Billboard Hot 100 songs chart (dated Sept. 5th), writing a new chapter in K-pop history. The Billboard chart is a record chart that tabulates the songs and albums in the US, provided weekly by Billboard magazine. The charts are ranked based on the data compiled from sales, radio airplay, and online streaming. The Billboard Hot 100 is renowned for being the chart that represents global popularity. While Gangnam Style, which achieved tremendous records and worldwide popularity with the “horse dance”, could only climb to No. 2 in the chart in 2012, BTS surpassed this highest record with their single, Dynamite . Dynamite is the first all-English language single that conveys a message of hope and happiness to people all around the world. It is a remarkable record to achieve the first No.1 for a K-pop act in the Billboard, even though it is an English language single. Thus, a lot of people including President Moon Jae-in congratulated the band for their contributions to Korean culture. The records of BTS will not only lead the Korean wave, Hallyu, and cultural achievements but will also bring economic value and industrial impact on the country. Hyundai Research Institute (HRI) analyzed that the economic impact of BTS could be as much as 5.56 trillion won per year in 2018, and if this trend continues, it will reach 56 trillion won by 2023.