Finance as a driver of the global dreams factory: spread of the Hallyu (or Korean Wave) and its consequences for the Korean economy
Kim, A. 2017. Finance as a driver of the global dreams factory: spread of the Hallyu (or Korean Wave) and its consequences for the Korean economy.
The paper discusses the main role of the Korean entertainment industry as “global dream factories” based on their recognition of merging old and new technologies and financial strategies to improve their global competitiveness.
Secondly, the most important features of the Korean market which have led to the K-pop success, such as its strategies in dealing with intellectual property rights, will be discussed.
Thirdly, the paper investigates the techniques used to develop a sustainable K-pop market by improving K-pop celebrities’ skills development towards global art performance, while maintaining a strong focus on ‘Koreanness’. This combination of Western and Korean values appears an important tool in K-pop’s current success.
Lastly, the advantages and drawbacks of the involvement of conglomerates into Hallyu will be criticised, along with suggestions on how to avoid a similar evolution of the Korean wave as during the 1997 financial crisis.
|Conference||The Ninth Critical Finance Studies Conference|
|Publication process dates|
|Deposited||24 Oct 2017|
|Accepted||31 Mar 2017|
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