Korean Wave Being South Korea’s Economic Growth Booster

Topics: South Korea, Korean wave, Seoul Pages: 2 (671 words) Published: February 26, 2013
Korean Wave is the growing aspiration to know more about South Korean culture. South Korea itself is an export-orientated country with a total trade volume of 884.2 billion in 2010, which makes South Korea the 7th largest exporter and 10th largest importer in the world. The cultural sector is the second biggest contributor after technological sector to the South Korea’s economic growth. The goods produced by the cultural sector are brought by the Korean Wave not only to the Asian but also to the American and Western markets. Korean Wave does give big contribution to South Korean’s economy through movies, pop music, tourism, and traditional arts.

When we think of Korean Wave, we should mainly think of Korean drama and film industries. For example, the Korean wave took an extra boost with the popular TV dramas like “Winter Sonata” and “Jewel Palace”. For film, we can take “Old Boy” and “Bin Jip” as examples, which were extremely popular, even in Europe. The fact that importing a Korean dramas is a lot cheaper than having to purchase it from any other country can be a reason as well as the emotionally powerful plots they have.

Besides Korean movies, Korean pop music also deserves a place on the list of exported Korean culture. K-Pop or Korean Pop is a musical genre originating in South Korea consisting of pop, dance, electropop, hip hop, rock, R&B, and electronic music. Let’s say Super Junior, 2NE1, SNSD, Wonder Girls, Big Bang, 2PM, JYP, IU, and many more, who does not know them? In 2011, these groups and singers have donated 35 trillion rupiah to South Korea’s GDP. These idols have a big impact on their fans’ culture, including food, fashion, make-up trends, and even plastic surgery. Leading talent agencies such as S.M. Entertainment Co. and YG Entertainment said recent concerts held by Korean entertainers in the United States and Europe have shown the potential for growth in markets outside of Asia. Korean big business is trying to transform those fans into...
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