Korea is growing as a cultural contents powerhouse with its traditional culture and the global diffusion of K-pop and K-dramas, collectively known as the Korean Wave.
Korean cultural contents in the world
* Source: PWC (2014), ICONIX/OCON/EBS/SKbroadband
Many Chinese companies invested in Korean Wave cultural contents companies in various sectors
including games, film distribution, TV drama production and entertainment, due to the growing popularity
of Korean Wave cultural contents in the Chinese market. The Korea-China model, combining Korea's
contents and China's capital and distribution network, will become a strategic investment method to
create synergy in the Chinese market.
- Korean Wave
- Effects of Korea-China FTA
- Rapidly Growing Chinese Market
Status of the Global Cultural Contents Industry
China is the most popular emerging market for
global cultural contents
- Core market: World’s third-largest market. Second-largest importer of Korea’s cultural contents
- Growth factors: Proactive government policies and expansion of new media
- Obstacles: Regulations on imported cultural contents, illegal replicas, etc.
Opportunities in Korea
The growing Chinese market is creating a new
opportunity for Korean contents producers
- Games: Korean games can be exported overseas and occupy greater global market share.
- Movies: Korea–China Joint Cinematic Production Agreement (signed in July, 2014)
Broadcast contents: Rapid growth of new media
industry ⇒ expansion of broadcast contents