The Korean Wave has established itself as a leading industry in the South Korean economy, according to a report released on July 7 by the Ministry of Culture, Sports and Tourism and the Korea International Cultural Exchange Agency.
This year, the export revenue generated by the Korean Wave reached $18.975 billion, marking a 15.9% increase from the previous year.
Exports of content, including music and dramas, accounted for $10.188 billion, while consumer goods and tourism exports reached $8.788 billion, reflecting increases of 14.2% and 18%, respectively. Notably, the success of the Netflix animated series 'K-Pop Demon Hunters' contributed to an 84% surge in music exports and a 37.8% rise in tourism exports.
The economic impact of the Korean Wave was also at an all-time high, with production-induced effects estimated at 48.28 trillion won, value-added effects at 20.79 trillion won, and employment effects generating 240,370 jobs. Over the past decade, exports related to the Korean Wave have increased by 2.68 times, nearly double the overall growth rate of South Korea's total goods and services exports, which was 1.36 times.
However, the growth of the Korean Wave is not uniform across all regions. While interest and favorability towards the Korean Wave have increased in the United States, the United Kingdom, and the United Arab Emirates, both metrics have declined in key Southeast Asian markets such as Thailand, Vietnam, and Malaysia. Researchers noted that while the Korean Wave is growing quantitatively, there is a sense of fatigue in core markets.
In the Middle East, the acceptance of the Korean Wave varies by country. According to the report 'The Acceptance of the Korean Wave in the Transitional Islamic World: Where is the Korean Wave in the Middle East?', the phenomenon has expanded to male and parent generations since the release of 'Squid Game'. However, the researchers critically addressed cultural tensions and performance-oriented limitations, suggesting the need for risk management strategies, including consultations with Muslim advisory groups and tailored approaches for different countries.
In Japan, the relationship between political conflict and cultural consumption does not necessarily align. The report 'Evolution of Localization Strategies for Korean Wave Content in Japan and Changes in Acceptance Patterns: Focused on K-Pop and Korean Dramas' found that even among those with limited affinity for Korea, many continue to consume K-Pop and Korean dramas, often preferring to enjoy K-Pop in its original Korean and dramas with Korean audio and subtitles.
Park Chang-sik, the director, stated, “We will continue to deepen our analysis of the economic ripple effects and local studies in key markets to develop a practical foundation for Korean Wave policies.”
The '2025 Korean Wave Ecosystem Study' can be downloaded from the Korea International Cultural Exchange Agency's Korean Wave Research Archive.
* This article has been translated by AI.
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