K-pop group BTS was nominated for a Grammy for Best Pop Duo or Group Performance for their hit "Butter," which they performed on the show Sunday night. File Photo courtesy of HYBE
SEOUL, April 4 (UPI) -- The share price of HYBE, the management company for K-pop sensation BTS, fluctuated as fans speculated over the group's potential exemption from mandatory military service.
HYBE saw its stock price jump 4.36 percent Friday after news that Ahn Cheol-soo, chairman of President-elect Yoon Seok-yeol's transition team, would visit HYBE's offices Saturday. Ahn has previously expressed support for providing BTS members with an exemption from military service.
However, Ahn told reporters that the issue was not brought up during his visit.
"We wanted to learn what the government can do in order to help startups survive and thrive," Ahn said.
He added that the decision regarding BTS' potential exemption should be made by the new administration through National Assembly debates. Yoon is scheduled to take office on May 9.
The stock price of HYBE dipped 2.94 percent Monday.
"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," HMC Investment & Securities analyst Kim Hyun-yong told UPI News Korea.
"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," he said.
In South Korea, all able-bodied men age 18 to 28 are required to serve in the military. The band's oldest member Jin, who was born in 1992, and other members will have to enlist.
BTS was nominated for Best Pop Duo or Group Performance for their hit "Butter" in the 64th Grammy Awards. However, they lost to Doja Cat and SZA.