Rise of Hallyu and Korean Brands
Introduction
Gangnam style is an overnight sensation that hit the world by storm, and it is the first Korean music video that got 100 million views on YouTube. The Korean singer/rapper Psy then became an international star that reached the number two spot on the American Billboard Charts and number one on the Chinese music charts. He was even invited on the Ellen Show to perform his dance next to Britney Spears and Ellen Degeneres herself. These are prove that the Korean Wave (or Hallyu in Korea) is gaining more recognition not only in Asia, but also the world.
With Korean culture in music, movies, and TV drama gaining more visibility worldwide, Korean brands are also doing better than before. Cultural exports were up to 4.2 billion in 2011. In a survey conducted by Korean Chamber of Commerce & Industry (2012), 82.2% of participating Korean corporations responded that Hallyu enhanced the positive image of Korea and Korean products, and also increased the sales of the company. This sales increasing effect was especially strong in service industry including culture (86.7%), tourism (85.7%), retail (75%) and also in manufacturing industry including food (45.2%), electronics (43.3%), cosmetics (35.5%), and automotive (28.1%) (GlobeOne, 2013). This report serves to give some insights on how Hallyu began and developed through the years, how it let to the rise of Korean brands, and how it has affected marketing in Asia and the world.
The Rise of Hallyu
Back in 1980s, the government made a decision to control the television networks so that there would not any publication of materials that are politics related. Producers were told to make any TV series as long as it is not political related. Hence, drama are based in olden times were popular because it would not have any relation to present day politics. Another favourite genre would be drama focused on love stories. These led to TV dramas like Winter Sonata, depicting a love story that became a hit in Asia, and
Gangnam style is an overnight sensation that hit the world by storm, and it is the first Korean music video that got 100 million views on YouTube. The Korean singer/rapper Psy then became an international star that reached the number two spot on the American Billboard Charts and number one on the Chinese music charts. He was even invited on the Ellen Show to perform his dance next to Britney Spears and Ellen Degeneres herself. These are prove that the Korean Wave (or Hallyu in Korea) is gaining more recognition not only in Asia, but also the world.
With Korean culture in music, movies, and TV drama gaining more visibility worldwide, Korean brands are also doing better than before. Cultural exports were up to 4.2 billion in 2011. In a survey conducted by Korean Chamber of Commerce & Industry (2012), 82.2% of participating Korean corporations responded that Hallyu enhanced the positive image of Korea and Korean products, and also increased the sales of the company. This sales increasing effect was especially strong in service industry including culture (86.7%), tourism (85.7%), retail (75%) and also in manufacturing industry including food (45.2%), electronics (43.3%), cosmetics (35.5%), and automotive (28.1%) (GlobeOne, 2013). This report serves to give some insights on how Hallyu began and developed through the years, how it let to the rise of Korean brands, and how it has affected marketing in Asia and the world.
The Rise of Hallyu
Back in 1980s, the government made a decision to control the television networks so that there would not any publication of materials that are politics related. Producers were told to make any TV series as long as it is not political related. Hence, drama are based in olden times were popular because it would not have any relation to present day politics. Another favourite genre would be drama focused on love stories. These led to TV dramas like Winter Sonata, depicting a love story that became a hit in Asia, and