Keeping Momentum behind the Korean Wave

SEO Min-Soo, Research Fellow, Samsung Economic Research Institute

The Korean Wave May be Subsiding

• Predictable plots in TV dramas
• Disposable pop groups
• Increasing skepticism both at home and overseas
• Widespread piracy

CEO's view on the Korean Wave's Sustainability

• Don't know: 13%
• Will end within five years: 47%
• Will continue for more than five years: 40%--Positive prospects less than the majority
• Source: Samsung Economic Research Institute's survey on 246 SERICEO members from May 7-20, 2013

Six Ways to Keep the Wave Going

1. Expand beyond pop music and TV dramas

Branch out into fashion, games, and cosmetics

2. Exploit characteristics unique to Korean values

Appeal to Korean values like "Jeong"

3. Build an ecosystem where creativity is rewarded

Ensure that artists are fairly paid

4. Increase exchanges and cooperation

Pursue joint productions with foreign companies

5. Leverage on and offline platforms

Use social media and cultural centers

6. Customize culture to different countries

Market to different regions based on their level of commonality with Korea

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