Exports of Hallyu Content
The Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Foundation for International Culture Exchange (KOFICE) announced on April 10 that the Hallyu content exports from South Korea totaled 3.2 trillion won last year to show a year-on-year growth of 13.4%.
Last year, the production inducement effect of the cultural content associated with the Korean Wave amounted to 15.6124 trillion won with the amount continuing to increase for four years in a row. Digital games represented for 2.7189 trillion won, followed by tourism (2.0181 trillion won) and films (174 billion won). The production inducement effect of South Korean films more than tripled from 50.3 billion won in just a year.
Digital games took up 58%, or US$1.64 billion, of the total cultural content exports last year to remain the largest portion for the second consecutive year. The exports of films increased 222% last year while the rate of increase was 30.7% for each of broadcasting and music.
The total Hallyu-related exports including cultural content, consumer goods and tourism increased 2.2% from a year ago to eight trillion won while South Korea’s total exports showed a negative growth of 8%.