HYBE Shares Fall & More, The Most Recent News On BTS’ Military Exemption!
The deferment of BTS Jin from his mandatory South Korean military service is getting closer and netizens, K-pop fans, and many more are wondering if BTS will receive a military exemption.
BTS Jin's two-year extension will end when 2022 ends and until now, it is uncertain what will become of BTS and the K-pop group's military enlistment. Due to this, HYBE, the agency of BTS, has been fluctuating in terms of shares.
Previously in December of 2020, South Korea passed the so-called "BTS Law." This law means that male K-pop artists who have gotten government medals for their domestic and global cultural contributions will be able to apply for a deferment until 30 years old.
Notably, HYBE's shares recently fluctuated after it was announced that Ahn Cheol Soo, a member of President-Elect Yoon Seok Yeol's transition committee, would visit the K-pop company.
It is known that the transition committee is focusing on preparing alternative methods of military service for immensely popular K-pop artists such as BTS.
Prior to Ahn Cheol Soo's visit to HYBE and the 2022 GRAMMYs, HYBE's share prices jumped 4.36% and three days later, the shares dropped 2.94%. As per HMC Investment & Securities analyst Kim Hyun Yong, two main factors affected the K-pop agency's fluctuating share price.
"HYBE's value went down for two reasons Monday. One is due to the military issue, and the other is due to BTS's failure to win a GRAMMY. HYBE shares would have rocketed if BTS members were exempted from military service, or if they were able to complete their service while remaining active professionally," Kim Hyun Yong noted.
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Unfortunately, BTS's military service was not talked about during Ahn's visit. Ahn Cheol Soo revealed that the new administration will make a decision regarding BTS's supposed exemption, possibly after the President-Elect takes office on the 9th of May.