Month: February 2006
Silencing the Yoduk Story
The Hallyu Effect
Dramas (soap operas)
Food and drink
"Hallyu" is not just a teen phenomenon. In fact, in many places such as Japan, older women are its biggest fans. It has been actively promoted by the Korean Government through organizations such as the Korean National Tourism Organization. Korean actors such as Bae Yong Jun, Choi Ji Woo, and Won Bin, singers such as BoA and Bi, and artists and designers such as Andre Kim have helped promote "Hallyu" worldwide.
1955: Modern tae kwondo is born
- 1980s: Discourses on Korean culture by Yi Gyu-tae and others
- 1988: Korea showcased during Summer Olympics
- 1997: Hong Kong’s STAR-TV broadcasts Korean drama "Star in My Heart"
- 2002: World Cup promotes Korean culture globally
- 2004: KNTO launches “Korean Wave 2004” campaign and interest in the Korean Wave skyrockets after "Winter Sonata" is broadcast in Japan
Benefits of "Hallyu"
"Hallyu" significantly benefits Korea and its economy, including:
Increasing awareness of Korean culture worldwide
Promoting a positive image of Korean culture
Providing a new Japanese mania with a Korean (foreign) flavor
Depicting Korea as a post-modern center of Confucianism
Improving relations between Koreans and other nations, particularly between Korea and JapanPromoting Korean tourism (2004 tourism increased by 47% over 2003)
Earning more currency from tourists who spend boatloads of money to relive their favorite "Hallyu" moneyGenerating increased revenue and exports for Korean companies
The Economic Effect of "Hallyu"
In addition to the benefits listed above, "Hallyu" contributed nearly .35% to 2004 Korean gross domestic product (GDP). "Winter Sonata" was by far the largest contributor. Revenues from "Winter Sonata" were more than $2.25 billion in 2004, representing one-quarter of one percent (.25%) of Korea’s 2004 GDP. In addition, the domestic Korean impact of the "Hallyu" was $866 million in 2004, or .10% of Korean GDP. Contrast the success of "Winter Sonata" to that of the "Lord of the Rings" trilogy, which brought in $2.91 billion at the box office. "Winter Sonata" grossed more than the #1 movie of all time, "Titanic," which brought in $1.84 billion. The single biggest film of all time when measured as dollar purchasing parity, "Gone With the Wind," grossed nearly $200 million in 1939. It signifcantly impacted the U.S. economy at a time when the country was emerging from the Great Depression and was not yet gearing up for World War II. "Gone With the Wind" contributed .02% to U.S. GDP in 1939, much less than the .25% contributed by "Winter Sonata." While .35% of GDP may not sound like much, it is amazing to think that a phenomenon that did not even have a name in 2003 contributed so much to Korea’s bottom line in 2004.