Success of K-Entertainment Built on Public-Private Partnership; Government Fosters Entrepreneurship, Human Resources
Compelling content enhances a country’s brand power and creates various synergies. The global popularity of South Korea’s K-pop and TV dramas has grown, and Japan is moving to strengthen its own content industry.
South Korea's K-Entertainment industry has thrived through a successful public-private partnership, with the government fostering entrepreneurship and human resources. The government has designated K-Culture as a core growth industry, expanding its scope to include food, beauty, fashion, and tourism sectors. Together, these categories generate synergies, contributing to a total export value of approximately $70 billion, making it the third-largest sector after semiconductors and automotive industries.
The government aims to further boost this sector, targeting a market size of 400 trillion won by 2030.
K-Culture's global brand power stems from the collaborative efforts of public and private sectors. The success of the hit drama "Winter Sonata" in the early 2000s, along with the rise of Korean manufacturers in Southeast Asia, played a crucial role in the industry's growth. Retailers in Singapore capitalizing on the "Made in Korea" branding helped boost Korean products' popularity against Japanese brands.
The Korean boom in the early 2000s led to Korean brands rapidly penetrating the Asian market, causing Japanese manufacturers to lose market share. In the early 2010s, the expansion of the middle class in Asia and the widespread use of smartphones among young people contributed to the growth of the K-pop industry. The continuous release of music videos on platforms like YouTube and the global popularity of Korean dramas on streaming platforms like Netflix have further strengthened K-Culture's global appeal.
The Korean model, a division of roles between the public and private sectors, has been instrumental in nurturing and strengthening the content industry. The government cultivates professionals capable of immediately contributing as producers, enabling them to play active roles in the private sector. The Korea Creative Content Agency (KOCCA), under the culture ministry, operates a support center for startups in the content industry and a training campus for creators and producers.
This model has not only expanded the base of the content industry but also created employment opportunities for young people.
Written by urgent.news from The Japan News by The Yomiuri Shimbun's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
