Tuesday, November 17, 2015

Korean Wave Or Hallyu: How it Contributes to Economy?



Recently, the Korean entertainment industry are becoming popular among teenagers around the world including our country, Malaysia. This situation due to cultural exports performed by these countries and the phenomenon known as the Korean Wave.

Hallyu encompasses mainly three forms of Korean popular culture: music, television miniseries, and film. Before the economic crisis of 1997/98, development of creative industries only concentrated in Seoul with the participation of conglomerate companies. After the crisis, small and medium-sized companies have taken over the role of creative industries in that country.The development of creative industries in Korea are in line with their economy.

some of Korean Dramas

Kpop fans in Poland

This large-scale export of Korean culture was initially limited to East and South East Asian countries. But now Hallyu is spreading to other regions of the world, garnering large interest in the Americas and Europe. K-dramas were the original cause of such success, but recently k-pop or korean pop- genre music has come to the forefront. Given that it is a fairly recent phenomenon, the level of popularity it is currently experiencing is quite astounding. 

Result of these waves have become major contributors to the national economy and bringing more than $ 1 billion every year to South Korea through the development and export of culture. Therefore, these developments should be emulated by our country by exporting culture of various ethnic groups in our country, and indirectly can help to improve our national economy.

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