BTS member Jin likely to begin his mandatory military service in December

7 days ago The Economic Times

Seems like the time has finally come for BTS member Jin to begin his military duties. As per recent reports on Thursday, the oldest member of the K-pop band, BTS, will enlist for his military service on December 13, becoming the first person from the band to begin the mandator military service.In South Korea , all able-bodies men under the age of 30 are required to join the military and perform the duties for about two years as the country still remains technically at war with nuclear-armed North Korea.Kim Seok-jin, also known professionally as Jin, is 30 and also the senior member of the hugely popular music group, BTS.The singer will begin his mandatory five-week training at Yeoncheon in Gyeonggi province before being deployed to a "frontline unit", the Yonhap news agency reported, quoting military and industry sources.Jin had already informed millions of BTS fans, who are fondly called the Army, on social media that he had been assigned to the front line. The agency, BigHit, which manages BTS, had also previously confirmed that all the band members, beginning with Jin, will serve the mandatory military service in due time.As soon as the news broke on the Internet, many fans were left overwhelmed and emotional, with some even expressing concern about K-pop idol's safety.While there had been a lot of talks about BTS skipping the mandatory military service or rumours about the rules changing, the prospect of serving in the country's military has long hovered over the K-Pop superstars. It has also triggered years-long debate in South Korea over whether they deserved exemptions -- which are given to classical musicians and Olympic medallists, for example.BTS -- consisting seven people including Jin, Suga, RM, J-Hope, Jimin, V and Jungkook -- are credited with generating billions for the South Korean economy, and their label enjoyed a surge in profits despite holding fewer concerts during the coronavirus pandemic.Seoul's defence minister had said in August that BTS might be allowed to continue performing and preparing for international concerts even while undertaking military duties.
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CashKaro raises Rs130 crore in fresh funding

Cashback and coupons platform CashKaro has raised Rs 130 crore as part of its recent funding round led by Affle Global Pte Ltd (AGPL).This minority investment has flowed into Pouring Pounds UK, the parent entity of Pouring Pounds India which houses the CashKaro and EarnKaro brands.CashKaro has, including the latest round, raised over Rs 125 crore from investors including Kalaari Capital, Ratan Tata , emeritus chairman of Tata Sons; Korea Investment Partners and others.Singapore-based AGPL is a fully owned subsidiary of Affle Holdings Pte Ltd (AHPL). This investment would strategically strengthen our unique business-to-consumer (B2C) engagement model as we scale CashKaro user base to over 100 million in the next few years,” said Rohan Bhargava, cofounder of CashKaro and EarnKaro, in a statement.According to the company, it drove gross merchandise value (GMV) worth Rs 4,000 crore for its partner ecommerce websites in FY22.“We are elated to announce our minority investment in CashKaro as they enter into the next phase of scalability and monetization. We appreciate the team, their strategic execution focus on profitable growth and commitment towards good corporate governance,” said Anuj Khanna Sohum, founder and chairman of AGPL.The company also crossed the Rs 200 crore revenue mark in FY22, ET reported earlier. Earlier this year, the company had also expressed plans to hire as many as 350 employees across functions, taking its overall team size to over 700 members.“CashKaro has seen fast and cost-efficient growth over the last 2 years, scaling from Rs 100 crore revenue in FY21 to Rs 225 crore in FY22, while consistently keeping losses under Rs 10 crore. We felt it was the right time to raise money and scale up our user acquisition, marketing, expansion into new business verticals, product development and hiring new talent,” said Swati Bhargava, cofounder, CashKaro and EarnKaro.

28 days ago The Economic Times
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