What is The Korean Wave? And why is it important?

In this essay, I will briefly explain the phenomenon of The Korean Wave and why it is important. To do this I will consider how it has affected South Korea, how it could affect South Korea and also the impact it could have on you.

In 2011 Britain felt the heat waves of an Indian summer. In 2012 Britain experienced the ripples of The Korean Wave. However, the Korean Wave is not a weather phenomenon miraculously bringing hot Korean summers to England, but a cultural phenomenon, which seems to finally have hit the West. I am sure that everyone is very familiar with Psys Gangnam Style, which fast approaches 2 billion hits on YouTube. A song, in which Eh sexy lady! are almost the only words that an English speaker understands, has become a worldwide craze. And this, ladies and gentlemen, is the Korean Wave.

More specifically, the Korean Wave (or Hallyu) refers to the initial increase in popularity of South Korean culture, mainly in East and Southeast Asia. This was mainly in the form of television dramas (Kdrama) and films. The term originated in China and hence is attributed to Chinese journalists. And then spread to Japan. In Autumn 2003, the Japanese devoured the K-drama Winter Sonata it so was popular it was aired twice in the same year! The popularity did not stop there and the drama has given way to a manga, an anime and also a musical. Later on, Korea pop music (K-pop) also became more popular throughout Asia, joining the wave. However, it is just recently that this wave has started to extend beyond Asia and it is definitely not a subject to be overlooked. It is clear that the rest of the world may be opening up to South Korean culture even more. But, what are the effects of this and why is it important?

Firstly, the Korean Wave is so important because it not only has already contributed majorly to the economy of South Korea but also has great potential to fuel further growth in the economy in the future. In 2011 about $180m worth of K-pop was exported. What is more impressive is that a decade-long study by Koreas EximBank revealed that every $100 of K-pop exported leads to a $400 increase in general consumer exports, e.g. cosmetics and electronics. There is a multiplier of 4 on K-pop alone. Now, with K-pop in the spotlight, overall South Korean consumer exports, fuelled by the K-pop exports, could grow even more. In just 2 years from 2009 to 2011, K-pop exports, mainly due to the increase of popularity in Asia, soared from $31m

to $180m a 480% increase! So, what if the Korean Wave really went global and the world went as crazy as Asia did for K-pop? Psymania has given us a glimpse of the real potential of K-pop. Yet Psy is just one of many artists in Korea and much of the Western music market remains untapped compared to Asia. Moreover, if K-pop hits the global market, other factors of the wave are likely to follow K-drama and films may flood into the worlds TV channels and cinemas leading to even greater demand for Korean goods, as fans want to soak up the South Korean culture. Besides, Koreas already established numerous free trade agreements, e.g. with the USA, the EU and ASEAN (Association of Southeast Asian Nations), make for easy exporting. Therefore, the Korean Wave is so important because of the boost in the economy it represents and the potential it has to boost the Korean economy even more.

Secondly, the Korean Wave has had great social impact and large political impact abroad. As a consequence of the Korean Wave more people have readily embraced South Korean culture. Already we have seen that the interest goes beyond cultural products to consumer goods; it is not simply a case of watching K-drama or listening to K-pop but of eating Korean food, learning Korean and visiting Korea. This implies that as the wave proliferates, genuine interest in South Korea will too. The same welcome and respect has also developed on a global scale; the Korean Wave has contributed to an increasingly positive image, helping to improve South Koreas relationships with other nations. Coined by Joseph Nye, soft power is the ability to get what you want through attraction rather than through coercion for countries culture is a major selling point; the Korean government readily acknowledges this and has done much to support the entertainment industry. In the Monocle Soft Power Survey, South Korea ranks 11 this year, up from 14 . If the cultural wave takes on the world, Korea would scale further up the list. The Korean Wave, with its economic boost and increase in soft power, could contribute to South Korea achieving the status of a great power. Presently Korea has a strong economy and also great military strength (their military power ranks 8 in the world*) but lacks soft power compared to other great powers. Consequently, the Korean Wave is not to be dismissed as just Asian soaps and pop music because it has had notable social and political impact and, of course, because it could be the key to a reshuffling of global power.
th th th

Thus far, in an attempt to justify the importance of the Korean Wave I have discussed the existing and potential economic, social and political impact of the phenomenon, mainly revolving around what it means for South Korea but mentioning those already caught up in the wave and those who might be joining it. Now, I will

*according to Global Firepowers Power Index

focus on the latter two. In short, it seems that the people riding along on the wave have bought more Korean goods, have deepened their interest in Korea and have a positive image of Koreans. So, what does that mean for the others who might be swept along too? From this, it sounds like it is only a matter of time before everyone is wearing the latest Korean trends, dancing the synchronised dances while blasting out K-Pop on their Samsungs. This scenario may be very possible which means that the Korean Wave is important because of the great role it could play in peoples everyday lives. Korean culture has the potential to grab a comfortable seat next to American culture in the nations around the world. This sounds rather overwhelming however, while the Samsung bit is becoming a reality (they are now the biggest smartphone producer), from one artist successfully breaking into the Western music market, the Korean Wave still has a long way to go until global culture domination. There are countless hurdles to jump before that, including resistance (anti-Korean Wavers) and very possibly, racism. But, arguably if this phenomenon is really to repeat its success in Asia and hit the big screen, the time is now with YouTube as a platform and Psys remarkable achievements as a backdrop. Nevertheless, in my opinion, all the challenges that the Korean Wave faces to get into the limelight do not make its triumph in Asia any less impressive. Potential is potential and I think failure to realise that is worse than speculating the outcome if it was realised. Therefore, for the very last time the Korean Wave is so important and not to be overlooked because of a) its present impact and b) the prospect of it leaping onto the global stage and the consequences of this.