TITLE:
From Cultural Export to Economic Engine: Examining the Role of K-Pop in the Growth of the South Korean Economy
AUTHORS:
Jinheon Park
KEYWORDS:
K-pop, Economic Contribution, Cultural Exchange
JOURNAL NAME:
Open Journal of Business and Management,
Vol.11 No.5,
September
13,
2023
ABSTRACT: This paper first focuses on the economic contributions
of the Korean pop (K-pop, hereafter) industry by emphasizing the structure of
the Korean entertainment industry and discussing its direct and indirect
effects on the economy of South Korea. Secondly, the paper examines government
policies and initiatives, discusses the role of government agencies and
organizations in promoting K-pop, and evaluates their effectiveness in order to
analyze government policies and support. Finally, this paper highlights the
international reach and global influence of K-pop by analyzing K-pop’s
international market expansion and its impact on the South Korean economy. It
also discusses the role of digital platforms, social media, and fan communities
in promoting K-pop globally, and examines the cultural and soft power
implications of K-pop’s global success.