Why BTS Choked Up Even at Starbucks in the US... Infinite Positive Influence Beyond the 56 Trillion Won Economic Impact

Starbucks Hopes to Collaborate with BTS... Korea Starbucks Success "CEO Song Hoseop Expects Positive Influence"
Delivering Hope to Korean Youth... Part of Profits Donated Beautifully for 'Youth Independence Support'
BTS Model Brand 'Good Brand Image and Sales Exceed Expectations'... Economic Impact 56 Trillion 'In Focus'

[Image source=AP Yonhap News]

[Asia Economy Reporter Lee Seon-ae] Starbucks spent over a year to successfully collaborate with BTS (Bangtan Sonyeondan). Given the numerous love calls from countless companies, pushing forward a project with BTS was truly like "catching a star from the sky." In fact, last year, Starbucks headquarters in the United States attempted to collaborate with BTS, but at that time, BTS was already active as a model for a global food and beverage brand, so Starbucks had to reluctantly give up. Since then, fans worldwide have continuously expressed their hopes on social networking services (SNS) such as Twitter for a meeting between BTS and Starbucks to come true.

The first to seize the opportunity was Starbucks Korea. Song Ho-seop, CEO of Starbucks Coffee Korea, judged that collaboration with BTS was essential for Starbucks’ youth support projects in South Korea. After numerous discussions, he finally led the collaboration to success. It is not just about listening to BTS’s music at Starbucks stores. Various drinks and MD (merchandise) symbolizing BTS are available, and part of the sales proceeds from the collaboration products will be donated to the Beautiful Foundation, allowing anyone to participate in the "Good Influence Project." Global fans also have no reason to be disappointed yet. Starbucks headquarters in the U.S. is currently closely monitoring the collaboration between Starbucks Korea and BTS with great interest. This means we can reasonably expect a day when BTS’s music will be played not only in Starbucks stores in the U.S. but also in Starbucks stores around the world.

From the 21st until February 6th, Starbucks Coffee Korea will launch a new campaign supporting the dreams of Korean youth by introducing one purple-colored drink, five food items, and six MD products in collaboration with BTS. Purple is the color symbolizing BTS. A Starbucks representative explained, "Since the 1st, we have been running a New Year promotion themed 'Be the Brightest Stars,' and we plan to deliver messages of empathy and hope to the youth, the future of Korea, together with BTS, who are spreading good influence throughout society." Regarding this, CEO Song also expressed, "We feel very honored to collaborate with BTS, who are spreading good influence globally beyond Korea. We hope that the good influence of BTS, which we have experienced so far, will be conveyed to many customers through Starbucks this time, becoming an opportunity to send much interest and support to the youth support projects, the truly shining stars of Korea."

During the campaign season, Starbucks will donate part of the sales proceeds from BTS collaboration items to establish a fund supporting the "Youth Independence Project" in partnership with the Beautiful Foundation. To this end, various purple-colored products symbolizing a starry night sky, including the "Blooming Purple Vin Chaud," will be introduced. The Blooming Purple Vin Chaud is a vin chaud drink featuring elderflower-scented grape juice and fruits, carrying a message of encouragement to comfort the Korean youth who will shine like stars, just as the warm vin chaud melts away the cold.

Six BTS collaboration MD products will also be released, including one mug designed luxuriously with real gold, two glasses, two pouches that can hold tablets and laptops, and one keychain in a tin case. Stylish sleeves and shopping bags featuring the combined logos of BTS and Starbucks will also be available. Of course, during the collaboration season, all Starbucks stores nationwide will play "Make It Right" from BTS’s album "MAP OF THE SOUL : PERSONA."

The reason Starbucks is so eager about BTS is not simply because of economic effects. CEO Song focused on BTS’s "good influence." Starbucks believes BTS’s good influence is spreading throughout society. Song judged that BTS’s good influence is essential to deliver a message of empathy and hope to Korea’s youth, the future, that "You are a shining star just as you are."

BTS’s good influence is also impacting corporate revival. Gyeongnam Pharmaceutical faced delisting threats due to two consecutive years of operating losses and accounting fraud, but it was revived thanks to the effect of BTS as the model for Lemona. The company is experiencing explosive demand and stock shortages and has succeeded in expanding overseas.

Global sports brand Fila broadcast outdoor advertisements featuring BTS every two minutes on five large digital billboards around New York’s Times Square from December 30 last year to January 5 this year. During BTS’s year-end performance at Times Square last year, Fila’s outdoor ads were exposed to viewers not only in the U.S. but worldwide. Although it is difficult to quantify the effect, Fila explained that it had a significant impact on promoting the brand globally and building a positive and good image.

Meanwhile, the Hyundai Research Institute estimated the total economic effect of BTS over their 10 years since debut (2014?2023), projecting a production inducement effect of about 41.86 trillion KRW and a value-added inducement effect of about 14.3 trillion KRW. CNN in the U.S. also highlighted BTS’s economic value. Citing the Hyundai Research Institute, CNN reported, "One out of every 13 tourists who visited Korea in 2017 was influenced by BTS," and "If BTS maintains their current popularity, they will contribute more than 56 trillion KRW to the economy by 2023."

A study also revealed that the economic effect of the concert held in Seoul last October nearly reached 1 trillion KRW. Professor Pyun Joo-hyun’s team at Korea University’s Business School published the report "Economic Effects of BTS Events: 2019 Seoul Final Concert," explaining that the direct and indirect economic effects of BTS’s three-day concert at Seoul’s Jamsil Olympic Main Stadium amounted to approximately 922.9 billion KRW.