Creative content industry in South Korea - statistics & facts
South Korean pop culture has seen a rise in global popularity in recent years, with creative industries like K-pop and K-dramas generally at the forefront. “Hallyu,” also known as the Korean wave, refers to the global phenomenon of the rapidly growing popularity of contemporary South Korean culture. This extends beyond creative industries to include other areas such as food, fashion and beauty, and technology, with the country being home to several tech giants such as Samsung and LG. Apart from increased financial success, this has increased the country’s visibility abroad.
With the hallyu phenomenon still holding strong, Korean creative industries have continued to benefit from increased and increasing international interest. However, industries that tend to do better domestically than abroad have also been booming. Pop culture and media content have become an invaluable source of economic success and soft power for South Korea.
Leading creative industries
The most popular industries are not necessarily those that generate the most revenue. While K-pop is the cultural phenomenon most strongly associated with South Korea, it is neither the most popular, most consumed, nor the most profitable. In 2022, the Korean music industry was only the sixth most successful creative industry, with a sales revenue of just over 11 trillion South Korean won. In terms of exports, the game industry far surpassed any other, with exports valued at almost nine billion U.S. dollars that same year. While often overlooked in mainstream media, South Korea has a strong gaming sector, with several major international favorites such as League of Legends, Overwatch, and PUBG coming from Korean studios.International consumption of Korean creative content
The increased international profile of the hallyu or “K-“ brand has had a measurable impact on exports, with the value of exports attributed to its influence having risen to reach around 14.2 billion dollars in 2023. A 2023 survey found that over 66 percent of global hallyu consumers reported experiencing a positive change in their perception of South Korea after engaging with hallyu content. In terms of overseas content consumption, K-dramas narrowly led the charge in a 2023 survey across 26 countries. Korean broadcast content, which also included films and entertainment programs, was the largest creative industry by sales revenue in 2022, as well as the second-largest in terms of exports. In recent years, there have been several Korean productions that have achieved global success, such as the Oscar-winning film “Parasite”, directed by Bong Joon-ho, and the K-drama “Squid Game.”With the hallyu phenomenon still holding strong, Korean creative industries have continued to benefit from increased and increasing international interest. However, industries that tend to do better domestically than abroad have also been booming. Pop culture and media content have become an invaluable source of economic success and soft power for South Korea.
