This review essay may contain some errors about the objective truth. Also, this review essay is completely written by myself. Therefore might have a biased opinion. Please tell me if this essay includes some errors about the objective truth. Also, I like to hear your idea about my opinion. Please leave them on the comment.
According to the video, K-wave across the globe is quite enormous.
About 12.3 billion dollars are created by Hallyu out of 1.6 trillion Korea's GDP. Even today, Hallyu is growing rapidly. Hallyu had increased 22.4% from 2018 to 2019. Also, Hallyu is not only making a direct economic impact, but it also contributes to the indirect economic impact. Korea's cultural business is making about 5.5 billion dollars by its cultural business. About 585 million dollars are created by travel in 2021. Also, since Covid19 made people stay home longer, 257 million dollars are made by the drama or movie by OTT services like Netflix.
Even though K-wave is spreading all over the world and it is quite helpful for Korea's cultural business, many threatening issues make K-wave risky.
Political conflicts with China and Japan and some K-pop stars' unethical behaviors or even criminal.
As a Korean, I think K-wave is pretty helpful for Korea for increasing the recognition of the Korean culture and Korea itself. But, about the economical issues, I don't agree with the video's tone of an argument. Since 12.3 billion dollars aren't that big compare to the total GDP of Korea. It's mainly due to Korea's industrial structure. Korea's industry makes money usually with the manufacturing business such as memory-chip, car, ship and so on. The biggest one is the electronic industry followed by the machinery and chemistry business.
Also, even though I didn't recognize it when I'm watching the video since I was quite sleepy this morning. In the comment section, many watchers indicated that Korea's government's support for the K-culture is the main reason for the K-wave is perspective made by Japan. About this, it is true that there is a ministry of culture, sports, and tourism in Korea. But, if I remember right, Kpop and other K cultures are mainly made by the private sectors. I convince my memory since I was born at end of the 20th century and saw how K-pop and K-culture had developed. JYP, SM entertainment, and other many entertainment companies had driven the industry.
Thank you.
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