The Korean Wave represents a global phenomenon of Korean popular culture with household names like BTS, Blackpink, and the drama “Crash Landing on You” captivating audiences worldwide. Hallyu has significantly contributed to the Korean economy in recent years. According to the Korea Foundation for International Cultural Exchange cited by Park , Hallyu-related exports amounted to $9.48 billion in 2018, marking a 9.1 percent increase from the previous year.
Just recently, P-Pop girl group Bini has drawn much attention as their viral summer hit “Pantropiko” officially topped the Billboard’s Philippine Song Chart as of April 23. This sets the standard for every P-Pop group. They are the first P-Pop group in history to accomplish this remarkable feat. Moreover, their hit song “Salamin, Salamin” is also in the top 10 and presently peaks at number four on the chart.
Moving forward, is it timely for the government to intensify its support in exporting creative economy products? What can be learned from the Hallyu wave, given its contribution to the South Korean economy?