HYBE wrapped its Seoul headquarters with “We Are Back” banners and BTS logos this week, as all seven members of the K-pop group are set to complete their mandatory military service this month.
RM and V were discharged from the military on Tuesday (June 10) in Chuncheon City, South Korea, after joining in December 2023, according to multiple news outlets out of South Korea and overseas.
A photo of both artists was posted on BTS’s social media shortly after they were discharged.
BTS’s oldest member, Jin, was discharged in June 2024, while J-Hope finished his service in October 2024. Meanwhile, Jimin and Jung Kook are reportedly set to complete their service on Wednesday (June 11).
HYBE’s stock has rallied in recent days since news of BTS’s imminent comeback emerged. The company’s shares jumped 2% in Seoul on Tuesday to KRW 309,000 ($226), marking a five-day growth streak. It also marked the highest level since April 2022. Year-to-date, the stock is up 57%.
The building decorations, unveiled Monday and running through June 29, coincide with BTS’s 12th anniversary celebration on Friday (June 13), according to Korea JoongAng Daily.
After this week, Suga remains the only member still serving, the report said. He is scheduled for discharge on June 21. Meanwhile, Jin and J-Hope, who returned to civilian life in 2024, have since released solo projects while maintaining limited public appearances.
Jin recently released his second solo album, titled Echo, on May 16. He partnered with TikTok last month for a campaign introducing multiple in-app experiences on the platform. In November last year, Jin also partnered with the ByteDance-owned platform on a multimedia campaign in support of his first solo album, Happy.
Jimin also dropped two albums while BTS was in hiatus. He released Face in March 2023 and Muse in July 2024. Jimin also teamed up with TikTok on an in-app hub to promote Muse last year.
The seven-member K-pop group, HYBE’s biggest earner, went on hiatus in 2022 due to compulsory military service in their home country of South Korea.
At the time, the band said they would be taking a break to pursue solo projects, but added that they will also remain “active as a group.”
That announcement rattled investors, and the company’s shares fell by around 25% that day, wiping around $1.5 billion from HYBE’s market cap value in the process.
In addition to being HYBE’s top revenue generator, the IFPI said BTS were also the world’s biggest recorded music artists in 2021 and 2020.
With the group’s absence, HYBE’s operating profit dropped 37.5% YoY to KRW 184.82 billion ($135.55 million) in FY 2024, which the company attributed to, among other factors, “BTS‘ temporary break.”
Speaking with analysts on the company’s earnings call in February, HYBE’s Chief Financial Officer Kyung-Jun Lee said, HYBE’s “revenue mix by artists has changed with the absence of BTS and [the] debut of new groups.”
At the time, the executive hinted that BTS’s comeback is in sight.
News of BTS’s return overshadowed the recent scandal at HYBE’s offices in Seoul, which were raided by South Korean authorities over a week ago as part of an investigation into alleged insider trading by a former executive.
Separately, in late May, it was reported that the South Korean financial watchdog, the Financial Supervisory Service (FSS), is ramping up an investigation into HYBE’s Chairman Bang Si-hyuk over allegations surrounding agreements supposedly made with certain investors and private equity funds ahead of the company’s IPO in 2020.
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