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Day Month Year “Hallyu” is the term in Chinese, when it is translated, it exactly means “Korean Wave”. This term is collectively used to refer to the outstanding growth of the culture of Korea. Popular culture that is surrounding everything, from movies, dramas, music to Korean cuisine, online games and the list goes on.
Hallyu first started spreading in Japan and China, then it found its way to several countries globally, specifically including Southeast Asia, it still continues to have a powerful influence there. In the year of 2000, a ban of 50 years was lifted on the interchange of popular culture between Japan and Korea. This showed a lot of improvements in the growth of Korean popular culture amongst the Japanese. Broadcast authorities of South Korea have been sending their ambassadors to promote and sponsor their cultural content and TV programs in various countries.
Korean Wave has been an ultimate blessing for Korea, its culture, its business and country image. Since the beginning of 1999, Korean Wave has become one of the greatest phenomenon of culture across entire Asia. The effect of Hallyu has been marvelous, capitalizing Korea’s GDP to 0.2% in 2004, which is the amount in the neighborhood of 1.87 billion USD. In 2014, Korean Wave had made 11.6 billion USD estimated boost on the economy of Korea. South Korea has become futuristic, and record-rich with a fast growth rate in the last two decades. South Korea is the 12th largest economy of the world whereas, in 1965, GDP per capita of Korea was less than Ghana.
The first Korean Wave is different from second Korean Wave according to different scholars because the primary genres of both were different that helped in the popularity of Korean culture. In the first Korean Wave, film and dramas embarked solid imprints across East Asia, whereas in second Korean Wave, video games, animations, and K-pop spellbound the people worldwide, especially in Asia, Europe, and North America.
Moreover, primary consumers in both waves were different. In First Korean Wave, they were in the age of 30s and 40s, and they loved romantic and classy dramas, films and online games, the popularity of Winter Sonata is the best witness of it. Whereas in the Second Korean wave, primary consumers were/are youngsters in teen or 20s who are/were fond of K-pop (popularity of Gangnam style and BTS band), social media (Smartphones, SNS), animations and digital games.
The government of Korea has been promoting its culture industry and soft power very seriously. When the Korean government saw that in the neighboring market there is some promising potential for Korean Wave, it began to financially encourage the industry, such as on tax breaks and in short in everything. The government of South Korea considers K-pop music, designer goods, and high-tech devices as the boosters of the economy of South Korea. It has been devoting a good amount of money to encourage the academic interests in popular culture of South Korea. Moreover, since South Korea is short on natural resources, it can generate a significant profit by cultivating human-capital-based organizations.
When BoA and Psy made it enter into Billboard top charts, it was a huge success, and it changed things significantly for the South Korean government. They portrayed the culture of South Korea in the most visually appealing way by showing the strength, advancement, and positivity of their culture. It helped in the promotion of Korean culture worldwide, and it undoubtedly provided social and economic support to the government. But on the other hand, there are also certain things shown in their dramas, like sexual harassments and sexual discrimination which imprint a negative impact of their culture.
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