By Catherine Li-LInPsy, EXO, BTS, BIGBANG, and Girl’s Generation are only a few of the many Korean music groups that have taken the world by storm. This popularity not only involves the music industry; Korean dramas, films, and even TV variety shows are equally popular abroad. It is a phenomenon known as Hallyu, which literally means “Korean Wave,” and it brings not only huge profits but also a new recognition of the country.
The Korean Wave, however, did not happen accidentally. It was planned over the course of many years. Behind its achievements lies a powerful funding source: the government. The Korean government has in fact made its entertainment industry an official division, which is a big reason behind why Hallyu has grown so dynamic. It is also the reason why the Korean entertainment industry is different from other countries, and it is in a sense less private. It is a public affair that needs to be protected, similar to the way Japan treats its tech and automobile industries. Government involvement began in 1997, when the Asian financial crisis triggered an awareness of many changes. South Korea was one of the countries that suffered the most. Korea did not have any outstanding industries at the time, and the new president, Kim Dae-Jung, who took office in 1998, saw the potential for the entertainment industry to boost the nation’s economy. Investing millions of dollars, the government focused intensely on its Ministry of Culture, and set up a division now known as the Korea Creative Contents Agency. This agency is the biggest funding source as well as the connector between different realms of entertainment in South Korea, establishing what we know as the Korean wave. The Korea Creative Contents Agency is still a government agency, but it now encompasses more than just the music or film industries. In recent years, gaming and fashion have also become part of its interests. The agency acts much like a bank: it lends money to big entertainment companies in order for them to grow. In the music industry, for example, before any artist or group can debut they have to go through a long period of training. This entails many expenses, from housing to hiring dance and vocal instructors, and even to planning language courses so that the artists can thrive internationally. Before the trainees debut, their companies are often in debt. This is how the agency helps them, and it allows the entertainment industry to produce more professional and extensive entertainment that attracts all ages and results in produces huge amounts of cash flow for the Korean economy. The entertainment industry also promotes merchandise. Well-known celebrities advertise apparel, tech products for companies such as LG and Samsung, and even food. Thus the success of the entertainment industry has also led to a big economic boost for many other industries. (Graph from inaglobal.fr) A rise in tourism is one of the biggest benefits. As Korean pop culture becomes more well known overseas, many people want to visit. They don’t just come for entertainment, however. Plastic surgery is one of the biggest draws. The beauty standards set by Korean celebrities leads many people to imitate them, and plastic surgery in Korea is probably the most advanced in the world, attracting many medical tourists. It is debatable whether this is a good benefit or not, but it also brings great financial benefits to the country. The Korea Creative Contents Agency is not the only government-related division in the entertainment industry. The Ministry of Foreign Affairs is also very much involved. Unlike other countries where embassies deal with more political affairs, Korean embassies fund concerts in foreign countries, as well as invite famous celebrities to become Korean tourism ambassadors. In recent years, the government has also built several Korean Culture Centers overseas to further promote Korean culture. These centers also offer Korean language classes. Everything about Korea has become more well known in the world. In the last ten years, Hallyu has become more and more prominent. Betting on the entertainment industry may have been risky initially, but the Korean government has also proven that they have an eye for big economic potential. The Korean wave has certainly not died down, but engulfs more areas of the world day by day, and it is hard to say whether it will ever fade away. a
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May 2024
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