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The BTS Law: An Unexpected Reform In South Korea

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BTS Band

BTS – the infamous Korean Boy band receives a deferment from compulsory military service. Just a day after BTS made the Billboard chart history, yet again, the South Korean government made the history of it is own. 

The National Assembly on December 1st changed the longstanding law related to compulsory military service to allow a small rest for the artists and entertainers who have contributed a lot to the nation’s global reputation, which includes BTS. 

The law previously required all-male South Korean citizens to complete two years of military service by the age of 30, which means they need to be enrolled maximum by the age of 28. But a change in this law arrives just in time, giving exemption to the BTS band’s oldest member Kim- Seok Jin, from joining the military services after December 4th when he turns 28. 

Fans of BTS were relieved to learn that the band won’t be breaking now. The new law allows eligible K-pop band members a grace period before they are required to enlist. 

On November 30th, BTS became the first band in history to top the Billboard Hot 100 chart with a song sung in Korean: “Life Goes On,” the second chart-topping single from the group’s new pandemic-themed album Be. The band also broke a slew of other records at an equivalent time, including the fastest accumulation of three No. 1 songs on the recent 100 since the Bee Gees accomplished that feat in 1978. 

Compulsory Military Service Law in Korea:

In South Korea, each year, more than 200,000 men have to give a pause to their studies or careers to join the military. Conscription is crucial for them to defend their country against North Korea. Once a Korean male turns 18, compulsory military service comes into effect. South Korea’s constitution, implemented in July 1948, states in Article 39: “All citizens shall have the duty of national defence under the conditions as prescribed by Act.” South Korea’s Military Service Act of 1949, implemented in 1957, states that compulsory military service is required for men once they turn 19 years old.

Enlistment for military service starts at 18 years within the country. They need not start immediately and can delay their service until the age of 28. Mostly, the first graduate from high school, enter university and in a year or two go for their military service. In some cases, they wait to finish their university too. Military service isn’t compulsory for ladies in South Korea but voluntary.

Defence officials say that after having decades of low birth rates, there will be a lack of young men to maintain an army of 620,000 members. 

The BTS Law:

As a revised rule, a pop culture artist who, recommended by the Minister of Culture, Sports and Tourism to have significantly contributed in building the image of Korea, within the nation or outside the world, will be allowed to postpone their service until the age of 30. 

BTS is the reason behind the revision of the law for his or her significant contribution in making South Korea known to the planet. In 2018, they received the Order of Cultural Merit from the Korean government, which could just mean that they will defer their conscription. Hence, this change is reform is popularly also knowing as the BTS law as called by the South Korean Parliament itself.

Exemption from Korean Military: 

Exemptions to the Korean military service law already existed for athletes, entertainers and other public figures, but those exemptions required to complete a term of military training. Those who had enrolled in PhD programs abroad are also given an exemption. 

Former President Park Chung-hee initiated exemptions for athletes in 1973 in an attempt to gain awards for the country; some historians believe the athletics also served as a distraction against the government’s unpopularity. After winning a trophy at the 1976 Summer Olympics, wrestler Yang Jung-mo was granted the primary exemption. In the 1980s, president Chun Doo-hwan guaranteed exemptions to any athlete who won a medal in either the 1986 Asian Games or the 1988 Summer Olympics.

Current conscription regulations stipulate that athletes who win medals within the Olympic Games or gold medals within the Asian Games are granted exemptions from military service. 

In practice, after athletes finish their four weeks of basic training, they’re ready to continue their own sports career during the 34 months of duty. The policy has resulted in coaches being accused of choosing players wanting to avoid military service rather than choosing the simplest athletes. Parents encourage their children to pursue sports in hopes of them receiving an exemption. 

Notable athletes who are granted exemptions from military service are the bronze medal-winning eleven at the 2012 Summer Olympics, 2008 Olympic gold medallist badminton player Lee Yong-die, swimmer Park Tae-hwan, 2014 Asian Games gold medallist athlete Hyeon Chung, 2018 Asian Games gold medallist footballer Son Heung Min, and 2018 Asian Games gold medallist ballplayer Lee Jung-hoo.

BTS’s Contribution to Korea

Noh Woong- Rae, a senior lawmaker in governing the Democratic party told that “It’s a sacred duty to defend our country but that doesn’t mean that everyone has to carry a weapon.” 

He made this statement in October, supporting the notion that special treatment needs to be given to BTS. The band has a significant role in creating a good image of Korea across the globe. There has been an increase in tourism, sale of South Korean export products, the balance of payments and more. 

BTS started its activities in 2014 and took the whole world by storm in October 2019, promoting the image of South Korea worldwide. As per reports released by the Korean Foundation for International Cultural Exchange, nearly 800-thousand foreigners have visited South Korea for BTS-motivated reasons per annum.

BTS is estimated to possess been liable for 7.6 per cent of the entire foreign tourists who visit South Korea. The group’s annual production inducement effect is estimated to be at 3.6 billion dollars, with its added value inducement effect projected at 1.2 billion dollars.

Korean’s military service requirement for a long time kept coming into the country’s growing pop idol industry, with bands having members enlisted during a time of their success. Bands that have many members can afford to lose a member or two without losing their momentum, but the requirement for the same could be troublesome. A comeback for the bands could be uncertain, for instance, who is to be complete their term within a year or two. 

The revision gone by the National Assembly allows the culture minister to nominate incredibly successful pop stars to be allowed to postpone signing up for the military until they’re 30. 

Despite this change in the law, there is still an ongoing debate as to if BTS should serve in the army, considering their contribution for bringing up South Korea in many ways.

I am an aspiring journalist who is very enthusiastic and assure to do my require job responsibly. I have a creative side to me as well and would do any task assigned to me with utmost sincerity. I like reading, listening to music and have started exploring art. Writing poems is something I do to pen down my thoughts as well.

India

Ram Mandir Opening For “Darshan” In 2023

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Ram Mandir Opening 2023 | News Aur Chai

The Ram Mandir in Ayodhya is expected to allow visitors by December 2023, with the completion of construction only in 2025.

Sources in the Shri Ram Janmabhoomi Teerth Kshetra have revealed that the colossal project of building the Ram Mandir in Ayodhya, Uttar Pradesh, will be opening for devotees towards the end of 2023. In contrast, the project’s entire construction completion is expected towards the end of 2025. The sanctum sanctorum (Garbha Griha), along with the mandir’s first floor, will be ready by December 2023. Devotees will be allowed to visit the long-awaited mandir soon after the construction is completed.

An ANI report said, “The grand Ram Mandir being constructed in Ayodhya will be opened for devotees from December 2023. Sources told ANI that Garbhagriha, all five mandaps and the first floor will be ready by December 2023 and the mandir will be opened for devotees”.

The sanctum sanctorum will be as high as 161 feet and built using Rajasthani marble and stones. Engineers and architects are taking all measures to ensure the longevity of this enormous project. The second stage of construction is expected to begin in December this year. Currently, the structure is at a standstill as a result of monsoons. Another reason for the delay is the coronavirus pandemic that depleted the force with which the mandir’s construction was expected to go on.

The announcement of the mandir being opened to visitors in 2023 has brought up questions about the political agenda. It is believed that the Bharatiya Janata Party (BJP) aims to use the mandir to catapult themselves into a position of advantage during the 2024 Lok Sabha elections. Opening the mandir to devotees in December 2023 will give the BJP an easy 6-month gap to the general elections in 2024.

The opening of the long-awaited Ram Mandir in Ayodhya could be the factor that diverts the public, at least the Hindu’s in favour of BJP. Thus, securing them a vote bank based on religious sentiments upheld by the party in their previous tenure as the ruling party.

The Ram Janmabhoomi Mandir will be 360 feet long, 235 feet wide, and 20 feet high mandir will be completely ready by the end of 2025. The project will include amenities and structures like museums, archives, research centre, Sant Niwas, gau and Yagya shala, Etc. The main attraction is the Ram Mandir.

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Business

How SEBI’s New Margin Rule Is Affecting Retail Traders?

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SEBI Margin Rule | News Aur Chai

Securities and Exchange Board of India has introduced new margin rules for traders. Traders and Brokers are not happy with the new regulations because they will have to invest a large amount of cash in fulfilling margin requirements for trade.

SEBI had introduced the new margin rule in the year 2020 for intraday traders. It is being implemented in a phased manner. Traders were supposed to maintain 25 per cent of the peak margin in the first phase; the margin was raised by 50 per cent in the second phase. In the third phase, as per the new margin rule, intraday traders will have to pay a 100 per cent upfront margin. According to new norms, the margin requirements will be calculated four times during every trading session because the money margin must be greater than the need.

As per the new rule, brokers must collect margin from investors for any purchase or sale, and if they fail to do so, they will have to pay the penalty. Thus, brokers will not receive power of attorney. Brokers cannot use power of attorney for pledging anymore.

Those investors who want to make use of margin will have to create margin pledges separately. As per the new rule, investors will have to pay at least a 30 per cent margin upfront to avail a margin loan. Shares brought today cannot be sold tomorrow. Funds from shares sold today cannot be used for new trades on the same day.

The market experts said that there must be proper adjustments for implementing new rules, or it may create chaos, trouble and disturbance to the market participants. The CEO and founder of Zerodha broking firm, Nithin Kamath tweeted that, “the day when the new rules came into effect was the dreaded day for brokers, exchanges, intraday traders”.

Traders Are Not Happy:

Changes in rules have evoked strong reactions from traders because they will have to invest a large amount of cash in fulfilling margin requirements for trades as per new margin rules. Even the trading in futures and options will become more expensive. Traders are disappointed because they will have to pay up more money to bet in stock markets. As per new margin rules, Traders are also liable for the penalty if the rules are not followed during the trading session. If a trader wants to buy Nifty worth Rs 10 lakh, he will have to pay a 20 per cent margin of around 2 lakh. If the margin of the trader does not meet the need, he will be penalized. Traders will have to pay the minimum amount for opening the Multilateral Trading facility account, and they have to maintain a minor balance at all times.

Why Gas SEBI Introduced A New Margin Rule?

SEBI has introduced new rules to protect retail investors from purchasing difficulty. The intended goal of SEBI behind new margin rules is to bring down the difficult market situation and avoid huge fluctuation in stock markets during extreme stress. The new margin rules are likely to bring transparency to the market; it is expected to strengthen the market’s safety.

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Hollywood

Keanu Reeves Returns with “The Matrix Resurrection”

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Matrix Resurrections 2021 | News Aur Chai

The expectation of the unexpected fourth instalment of The Matrix Resurrections in the sci-fi establishment has started with another banner prodding the arrival of its first trailer.

The film Matrix 4 comes out 18-years after The Matrix Revolutions. It is planning to be the last film in a trilogy reporting the transformation of Computer programmer Thomas Anderson into cybercriminal Neo. As he finds the conventional world, he occupies a recreated reality.

Loosening up the expectation, with a special promotional. It highlights red and blue pills sit next to each other underneath the clear message: ‘The Choice is yours.’ Fans of the famous establishment will perceive the pills as a definitive choice given to Neo, played by Keanu Reeves, as he picks between life in the conflict assaulted real world or the ‘beautiful prison’ of a substitute reality. Penetrating static fills in as the scenery, as small strings of Matrix code has seen falling inside the pills before the whole scene liquefies.

Fans can proceed with their adventure on WhatIsTheMatrix.com, an intelligent pick your-own-experience style site. Given a similar decision there, red brings you down a rabbit hole where you’re told: ‘This is the moment for you to show us what’s real.’ Then scenes from the film teaser, showing the slight hindrance between the natural world and the fake world known as The Matrix. One of the Best Scenes is Reeves’ Neo gulping a blue pill while a lot more seasoned, a balder man shows up in his appearance.

The scenes reviewed rely upon which pill selection and each emphasis on the decision made. The Red Pill requests that the watcher go further into the reality behind the Matrix. While the Blue Pill cautions them to avoid it again so as not to agitate the norm and welcome undesirable risk.

Still, the viewer’s decision makes, in any case, every secret seems to end with a brief look at Keanu Reeves as Neo, with different eyes. He either collaborates with characters who could be his partners in the film or plans to fight against its expected scalawags, be they Agents, pernicious projects, or even people.

The person who clicks on the blue pill will hear Harris’s voiceover saying: “You’ve lost your capacity to discern reality from fiction.” Before encouraging the viewer to embrace that their situation is genuine. At the current time, streaks on the screen, and Harris peruses it, saying, “anything else is your mind playing tricks on you.” By contrast, ones’ who click on the red pill hear Abdul-Mateen’s voice revealing to them that while they trust it’s the current time — once more. With Abdul-Mateen perusing the time out loud — “that couldn’t be further from the truth.” Regardless, a progression of quick-cut shots from “Revivals” streaks on the screen during the two situations. As each time a viewer taps on a pill, the recording changes.

‘This could be this is the first day of the rest of your life, but if you want it, you gotta fight for it.’ The portrayal wraps while showing star Keanu Reeves prepared to battle. Then, at that point, finishing on a vile note, they show somebody contacting the PC port at the rear of their head and inquire: ‘We don’t want anyone to get hurt, do we?’

From visionary movie producer Lana Wachowski. The new film reunites unique stars Keanu Reeves and Carrie-Anne Moss as Neo and Trinity, the infamous roles they made well known.’ The first Matrix film in 1999 met with much essential acclaim upon its introduction. The element is following up by two other movies, which were both delivered in 2003. Warner Bros. uncovered the title for the fourth Matrix film during its CinemaCon board. The Matrix Resurrections will release on December 22, 2021.

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