Thanks to BTS... Small Business Sales in Busan Rise 3.6% in Two Weeks Around Concert

Sales on Concert Day Up 11% Year-on-Year
Sales in Key Areas such as Yeongdo and Gukje Market Rise Over 10%
Foreigner Spending in Busan Increases by 71% Compared to Last Year

Small business sales in Busan increased by 3.6% year-on-year around the time of the BTS World Tour concert held last month.

On the 12th of last month, during BTS's 'BTS World Tour Arirang IN Busan' concert held at the Asiad Main Stadium in Dongnae-gu, Busan, ARMY (BTS fandom) posed for photos. Photo by Yonhap News Agency

The Ministry of SMEs and Startups announced on July 22 the results of its analysis of sales trends in major commercial areas in Busan before and after the BTS World Tour Arirang concert, which took place from June 12 to 13.

The Ministry analyzed data from Korea Credit Data (KCD) affiliated stores in sectors closely related to daily life in Busan over a two-week period before and after the concert, and found that sales increased by 3.6% compared to the same period last year. This growth rate far exceeded the national average increase of 0.4% and the Seoul region’s increase of 0.3% during the same period.

In particular, sales on the day of the concert saw an 11.1% increase compared to the previous year. The analysis showed that the boost in consumption was especially strong on the day of the event, compared to one week before (3.3%) and one week after (3.4%) the concert.

By business type, convenience stores (6.5%) and beauty/hair salons (6.2%), which are popular with visitors and tourists, posted higher sales growth rates than the overall average. Restaurants also saw a 3.6% increase.

A breakout of Busan’s major commercial zones revealed the Yeongdo area, known for its mural villages and unique cafes, recorded a 13.7% increase in sales. Other areas that outperformed Busan’s overall average included ▲Gukje Market (11.0%), ▲Seomyeon (8.7%), ▲Haeundae (5.0%), and ▲the Busan Station area (4.2%).

The influx of the global fandom led to a 71.7% increase in foreigner consumption in Busan compared to last year.

By industry segment, sales to foreigners surged most in accommodations (148.1%), while restaurants (72.3%), convenience stores (71.0%), and beauty/hair salons (63.8%) also saw robust growth in order.

The area-by-area analysis for foreigners showed that Yeongdo (259.1%) and Gwangalli (101.3%) both saw their sales more than double compared to the previous year.

Lee Byeongkwon, the Second Vice Minister of SMEs and Startups, said, “This analysis is an example that quantifies the economic ripple effects of large-scale K-pop concerts and other cultural content on local small business and neighborhood stores through data. Going forward, we will continue to advance precise, data-driven small business support policies by integrating public and private sector small business data.”

This content was produced with the assistance of AI translation services.