SEJONG, Sept. 7 (Korea Bizwire) — South Korea will significantly hike its 2021 budget to promote the “Korean Wave,” as Korean pop culture enjoys a growing popularity worldwide, according to the finance ministry Monday. The Ministry of Economy and Finance has set aside 696.1 billion won (US$584.8 million) for next year’s budget to promote the [...]
SEOUL, July 16 (Korea Bizwire) — Foreigners who traveled to South Korea last year to consume K-pop goods and content were estimated to have spent US$1,007 on average, according to a report Thursday. In its latest tourism industry analysis report, the state-run Korea Tourism Organization (KTO) estimated that some 1.11 million foreigners came to South [...]
SEOUL, March 15 (Korea Bizwire) — A new report has revealed that both positive and negative global consumer sentiment is growing towards South Korean pop culture, signaling signs of a love and hate relationship. The 2017 report from the Korean Foundation for International Cultural Exchange (KOFICE) released on Wednesday looked into the international domination of South [...]