By Park Jin-hai
Hallyu, headed by global K-pop sensation BTS boosted the Korean economy last year by creating $9.48 billion in exports.
In research titled "Report on the effect of Hallyu 2018," issued by the Korea Foundation for International Cultural Exchange, the total amount of exports arising from hallyu was shown to have risen 9.1 percent from 2017.
Out of the total, hallyu related exports and cultural content accounted for the largest at $4.42 billion, a 2.8 percent jump from 2017.
The cultural content industry included games ($3 billion), music ($430 million) and broadcasting ($410 million).
However, the sales from hallyu related consumer goods and tourism was slightly down at $5 billion, a 0.5 percent decrease.
Tourism products earned $1.5 billion, followed by cosmetics export with $1 billion and food export with $770 million.
The organization under the wing of the Ministry of Culture, Sports and Tourism polled some 7,500 hallyu content consumers in 16 different countries and used export data. Based on the information, it provides various data including the "hallyu index" and "hallyu effect" on economy.
In terms of its trickle-down effect, through its report "Analysis on hallyu's non-economic value," the organization studied the BTS official fan club ARMY's communications.
According to its gauge on hallyu popularization around the globe, it has been "spreading" in most countries.
Yet in its forecast for the future growth potential of hallyu, it evaluated that Malaysia, Indonesia, Russia and India belong to the countries for rapid hallyu growth potential, while in Japan hallyu is losing ground.
Hallyu, headed by global K-pop sensation BTS boosted the Korean economy last year by creating $9.48 billion in exports.
In research titled "Report on the effect of Hallyu 2018," issued by the Korea Foundation for International Cultural Exchange, the total amount of exports arising from hallyu was shown to have risen 9.1 percent from 2017.
Out of the total, hallyu related exports and cultural content accounted for the largest at $4.42 billion, a 2.8 percent jump from 2017.
The cultural content industry included games ($3 billion), music ($430 million) and broadcasting ($410 million).
However, the sales from hallyu related consumer goods and tourism was slightly down at $5 billion, a 0.5 percent decrease.
Tourism products earned $1.5 billion, followed by cosmetics export with $1 billion and food export with $770 million.
The organization under the wing of the Ministry of Culture, Sports and Tourism polled some 7,500 hallyu content consumers in 16 different countries and used export data. Based on the information, it provides various data including the "hallyu index" and "hallyu effect" on economy.
In terms of its trickle-down effect, through its report "Analysis on hallyu's non-economic value," the organization studied the BTS official fan club ARMY's communications.
According to its gauge on hallyu popularization around the globe, it has been "spreading" in most countries.
Yet in its forecast for the future growth potential of hallyu, it evaluated that Malaysia, Indonesia, Russia and India belong to the countries for rapid hallyu growth potential, while in Japan hallyu is losing ground.
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