August 18, 2022

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HYBE LABELS’s Turn to Respond to BTS’s Military Service

HYBE LABELS provides feedback regarding BTS’s military enlistment. This is related to the mandatory military service statement issued by the Minister of National Defense of South Korea on August 1, 2022.

South Korean media Newsen reported that HYBE, as the label that houses BTS, held an IR conference call on the morning of August 3, 2022. “There is no set time or method for BTS registration,” said the HYBE.

I plan to do individual and group activities. For individual activities, (solo) albums are planned, and for group activities, there is a Busan show in October (part of the Busan Expo ambassador activities). For group activities, I will inform you as soon as the time and method of BTS registration is decided,” continued HYBE.

So in response to the statement by the South Korean Minister of National Defense, HYBE LABELS is still considering the time and method of BTS’s own military enlistment. This of course requires careful thought. The uncertainty given to BTS, of course, makes fans worry about BTS’s future schedule.

The statement came after South Korean Minister of National Defense, Lee Jong Seop discussed BTS’s military service at the plenary meeting of the National Assembly Defense Committee. The meeting held on August 1 resulted in an answer that BTS could enlist in the military at the same time as performing a concert.

I think there is a way to come to the military but it gives the opportunity to train in the military, and if there is a schedule for performances overseas, we can leave the country and perform together.“explained Lee Jong Seop.

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Director of the Military Manpower Administration Lee Ki Sik said, “Adding another pop culture artist can break the overall military service exclusion framework, so we reviewed them carefully.

There are no written laws or regulations to date that specifically address the exemption from military service for artists. South Korean officials are still reviewing the regulations further.

Continuing the HYBE conference that was held this morning, HYBE also announced their sales and profits in the second quarter of 2022. This calculation is based on the K-IFRS consolidation or calculations that appeared before the external auditor’s review.

HYBE managed to achieve sales of 512.2 billion won with an operating profit of 88.3 billion won in the second quarter of this year. This achievement increased by 83.8% for sales and 215.3% for operating profit compared to the same period last year.