Hallyu wave

Development of the entertainment industry and pop culture

Evolution of the Entertainment Industry

• Beginnings and Transformation

Korean entertainment, known as “Hallyu” or “Korean Wave,” has had a significant impact on Western society and has become a pillar of the South Korean economy, along with technology and the cosmetics industry. K-pop and Korean dramas are prominent examples of this phenomenon. K-pop idols, such as BTS, follow strict rules and train intensively, while television and film productions, such as “Parasite” and “Squid Game,” address themes of inequality and social issues. The Korean government has capitalized on this cultural wave to boost tourism and improve the country’s international perception. However, the entertainment industry also poses mental health challenges for young people due to high standards of perfection. South Korea, a guest at the 2022 Bogotá Book Fair, will showcase its cultural richness through various activities.

• Video Game Industry

History and Growth

The size of the video game market in South Korea has shown significant development between 2006 and 2020, with remarkable growth reflected in billions of won. This statistic covers the period from 2006 to 2019, with some forecasts up to 2020. To access detailed data and other related reports, a Statista account is required. In addition, the important role of the video game industry in the South Korean economy is highlighted, complementing other cultural industries such as K-pop and anime.

Known for its online, role-playing, and mobile games, the video game industry in South Korea has seen remarkable growth in recent years, especially since the mid-2010s with the rise of mobile games that drive in-game purchases. However, in the face of criticism for these business models, companies such as Nexon, Krafton, Line Games, and Neowiz are changing their strategies, developing games that require fewer in-app purchases and diversifying into different genres and platforms. Recent examples include Line Games’ “Uncharted Waters Origin,” without lottery elements, and new releases from Krafton and Neowiz showcased at Gamescom 2023. This shift is in response to player demand for fairer gaming models and greater variety, moving away from systems that incentivize excessive spending. The Korean industry is thus seeking to adapt to new trends and expectations in the global market.

• Global Expansion of K-Pop

Origin and Popularization

K-pop, short for Korean Popular Music, is an urban music genre from South Korea that has achieved notable global success in the 21st century. Emerging in the 1990s, K-pop is inspired by American electronic and urban music, with influences from groups such as the Backstreet Boys and the Spice Girls. The K-pop industry, dominated by record labels such as SM Entertainment, JYP Entertainment and YG Entertainment, has become especially international since the second decade of the 21st century, becoming an essential part of the "Korean Wave" or "hallyu." This genre is characterized by its musical diversity, fusing pop, hip hop, rock and other styles, and by its boy bands, whose members focus on singing and dancing, playing specific roles. K-pop has gone through four generations of artists, with groups such as BTS and BLACKPINK standing out in the third generation, and NewJeans in the fourth. In Spain, K-pop has had a huge impact, with massive events and a very active fan base on social media.

• Music

The demand for new musical proposals in South Korea has grown significantly in the new millennium, driven by social media and the Internet, which has favored the country's economic development. Between 2009 and 2019, K-pop, supported by public policies, established itself as the main musical genre, generating significant income and increasing tourism. The Korean music industry has achieved notable global success, especially with groups such as BTS and Blackpink, thanks to international promotion and distribution. Government policies, initiated by President Kim Dae Jung and continued by President Park Geun-hye, have been fundamental in this growth, using K-pop as a soft power strategy and encouraging the creation of cultural infrastructure such as the K-Culture Valley theme park. These examples of creative economy can be replicated in other developing countries with appropriate public policies.

• Influence of Korean Dramas (K-Dramas)

The Korean film industry has evolved significantly since the Korean War, when foreign films were imported to lift morale. After the armistice, the industry boomed in Seoul, influenced by Hollywood. In the 1960s, Korean cinema was characterized by family dramas and political satires, but faced government censorship from 1962 to the 1980s, although it achieved stability thanks to economic development. The 1980s marked the renaissance of Korean cinema with democratization and social changes. Despite competition from foreign films, in the 1990s, investment from large companies and new policies supported local production. Festivals such as Busan and the success of filmmakers such as Bong Joon-ho and Park Chan-wook established Korean cinema on the world stage, culminating in recent hits such as "Parasite" and "Minari."

South Korea, traditionally known for its tech and automotive products, has emerged as a global cultural giant thanks to K-pop, K-drama, and film. This rise did not happen overnight, but was the result of decades of adapting and refining influences from Hollywood and other entertainment hubs, integrating distinctively Korean elements. With the rise of streaming platforms like Netflix, geographical barriers dissolved, allowing works like “Parasite,” “Squid Game,” and bands like BTS to capture global audiences. This phenomenon has given South Korea significant cultural influence, in contrast to less effective efforts from other countries, and has led to a greater appreciation and demand for its emotionally complex and socially relevant content.

Korean Cinema on the Global Stage

• History and Recognition

Korean culture has experienced a global boom, especially highlighted at events like Manga Barcelona, ​​where K-pop and K-dramas have captured the attention of thousands of fans. This phenomenon is explained by the universal appeal of Asian aesthetics and the soft power of Korean culture, which has managed to positively influence other countries. The digital revolution, platforms such as YouTube and Netflix, and a coordinated marketing strategy have been key to the expansion of hallyu. The impact of the Korean wave goes beyond music and series, extending to gastronomy, beauty and social activism. Despite some challenges, the industry continues to grow and is expected to remain a significant cultural force in the future.

• Impact on the South Korean economy

The Korean entertainment industry, particularly K-pop, has been a key strategy for South Korea's economic growth, standing out since the emergence of hallyu or the Korean wave. This expansion has included k-dramas, movies, series, makeup and music, becoming a significant cultural asset within the “orange economy” and generating significant revenue. This is reflected in the sales of the 50 best-selling albums in 2019 and 2020, according to the Gaon Charts, the South Korean equivalent of the Billboard charts.

Religion in South Korea

Religious History of South Korea

• Religion in Ancient Korea

Religion in South Korea is diverse, with Christianity (Protestantism and Catholicism) and Buddhism being the dominant beliefs, although 56.9% of the population has no religious affiliation. Historically, shamanism was the main indigenous religion, followed by the arrival of Buddhism in 372 and its flourishing during the Goryeo kingdom. In the Joseon Dynasty, Neo-Confucianism suppressed Buddhism, which re-emerged along with Christianity in the 19th and 20th centuries. Following the Japanese occupation and the subsequent division of Korea, Christianity gained strength in the south. In the 1970s and 1980s, social changes and government policies promoted the resurgence of Buddhism. In addition, Taoism, Buddhism, and Confucianism have influenced Korean ethics and social structure, with spiritual traditions and shamanic consultations still present in daily life.

In South Korea, various religions coexist, such as Shamanism, Buddhism, Confucianism, Christianity and Islam, with 44% of the population professing some religion according to 2015 data. Buddhism and Confucianism are historically predominant, influencing much of the country's cultural heritage. During the Joseon Dynasty, Confucianism became the state ideology, while Christianity and Protestantism spread in the Joseon Dynasty and at the end of the 19th century respectively, establishing a significant presence in education and health. In addition, there are other beliefs such as Cheondoism and Daejongism, which have influenced the process of modernization and Korean nationalism. Freedom of religion is guaranteed by law in South Korea, allowing its inhabitants to practice various religions and beliefs freely.

Buddhism in South Korea

• Historical Influence

South Korea has more than 1,000 Buddhist temples and monasteries, which are not only religious centers but also important to local economic and cultural life. These monasteries, many located in mountains surrounded by nature, have withstood ideological changes and conflicts for more than 1,600 years since the introduction of Buddhism. Notable examples include Bongjeongsa Temple, which houses numerous national treasures; Songgwangsa Temple, one of the three jewels of Seon Buddhism; Hwaeomsa Temple, with pagodas recognized as national treasures; Seonamsa Temple, crucial to the spread of Seon Buddhism; and Buseoksa Temple, famous for its legend and treasures. In 2018, seven Buddhist monasteries, including Buseoksa, Seonamsa, and Bongjeongsa, were inscribed as World Heritage Sites by UNESCO, highlighting their cultural and historical value.

Buddhism in South Korea has a complex and varied history. Introduced from China in the 4th century, it flourished during the Silla and Goryeo dynasties, even becoming a state religion. However, with the rise of the Joseon dynasty in the 14th century, Buddhism experienced a decline due to Neo-Confucian influence. Today, although half of the Korean population identifies as non-religious and the majority practices Christianity, Buddhism has seen a resurgence in the 20th century and is the second largest religion, with 20% of the faithful. Buddhist temples, such as the impressive Haeinsa complex with its historic Janggyeong Panjeon, reflect the continued importance of this faith in Korean culture, showing a deep connection to the country's spirituality and history.

Christianity in South Korea

• Introduction and Growth

Religion in South Korea features remarkable diversity, with Christianity and Buddhism as the main beliefs among those who practice a religion. Despite this, more than half of the population does not affiliate with any specific religion. Buddhism, introduced from China in the 4th century, had a period of flourishing during the Silla and Goryeo dynasties, but suffered suppression under the neo-Confucianism of the Joseon dynasty. Christianity, which gained significant ground in the 20th century, has a prominent presence, especially Protestantism. Religious practices in South Korea, including shamanism and Confucianism, have deeply influenced culture and daily life, reflecting a rich spiritual heritage over the centuries.

• WYD

World Youth Day 2027 in Seoul, South Korea, will focus on promoting interfaith fraternity and friendship, especially with the Buddhist community. The Archbishop of Seoul, Mgr Peter Soon-taick Chung, stressed the importance of this meeting as an opportunity to unite young people of different faiths in a spirit of dialogue and cooperation. The message, delivered during the celebration of Vesak, highlights the need for peace and happiness in the world, underlining shared values ​​between Christianity and Buddhism as fundamental to building a future without conflict.

Impact of Religion on Culture and Society

According to the report "Korean Catholic Church Statistics 2023" released by the South Korean Bishops' Conference, Catholics account for 11.3% of the country's total population, with a total of 5,970,675 faithful baptized by December 2023. Despite the slowdown during the pandemic, the Church is experiencing a recovery, with an increase of 0.3% compared to the previous year. The number of new baptisms increased by 24%, with 51,307 new baptisms in 2023, reflecting a positive trend in religious practice, although Mass attendance has not yet returned to pre-pandemic levels. The decline in priests and religious, coupled with the aging of the Catholic population, are significant challenges facing the Church in South Korea.

The development of Korean religious thought from its mythological origins to the introduction of new religious traditions. From the myth of Hwan-ung descending to civilize humanity to the arrival of Buddhism, Taoism, and Confucianism from China, an evolution in religious practices and beliefs can be observed on the peninsula. Despite the dominance of Buddhism during the Goryeo dynasty and Confucianism in Joseon, shamanism persisted among the popular classes and women, merging with Buddhism in a form of syncretism. In periods of exclusion, such as in Joseon, shamanism and Buddhism offered alternatives for the marginalized classes, while new currents such as neo-Confucianism and Catholicism introduced ideas that challenged established social structures, promoting equality and social inclusion, especially among women and the most disadvantaged.

In the later period of the Joseon Dynasty, a fervent movement arose among the impoverished rural population that adopted the cult of Maitreya Buddha as a response to the oppression and corruption of the aristocratic classes. This cult not only sought to free society from Joseonite institutions, but also to create a new nationalist and philosophical order. From these initiatives emerged several new religions that combined elements of local traditions with popular beliefs, emphasizing an eschatological scenario that anticipated a paradisiacal era on Earth, free of injustice and social divisions. Notable examples include Donghak, founded by Choe Jae-u, which promoted social equality and challenged the feudal system, being crucial in the peasant uprising of 1864. Later, under Choe Sihyeong, Donghak was transformed into Chondogyo, adopting a more formal religious identity that played a central role in the Korean independence movement against Japanese colonial rule. Furthermore, the entry of Western Protestantism in the late 19th century also marked a significant change in Korean society, especially in terms of female education and emancipation, albeit with persistent challenges to gender equality within the churches. This journey through Korean religious traditions highlights how such beliefs have shaped the country’s social and political history, acting as forces of both inclusion and exclusion over the centuries.

The luxury market in South Korea

Economic and Social Context

• South Korean Economy

South Korea's economy grew by 1.4% in 2023 according to preliminary data from the Bank of Korea. This growth, although positive, represents a slowdown from 2.6% in 2022 and 4.3% in 2021, influenced by the slowdown in exports and domestic demand, as well as global monetary tightening policies. Despite the recovery from the contraction of the previous year, factors such as geopolitical tensions and the economic slowdown in China have had an impact. The Bank of Korea has kept its key interest rate stable at 3.5%, considering a possible slowdown in growth and moderate inflation.

According to preliminary data from the Bank of Korea, the South Korean economy grew by 1.4% in 2023, meeting expectations but marking a slowdown from 2.6% in 2022 and 4.3% in 2021. This situation is attributed to the weakness in exports and domestic demand, influenced by global monetary tightening policies. Exports increased by 2.8% year-on-year, while imports grew by 3%, slightly lower than the previous year. In the last quarter of 2023, South Korean GDP grew by 0.6% from the previous quarter and by 2.2% year-on-year. The economy is recovering from a contraction in the fourth quarter of 2022, driven by global monetary adjustments and challenges such as high inflation and geopolitical tensions.

Search for Exclusivity and Social Status

• Social Status Culture

In South Korea today, social and economic inequalities are evident, as shockingly shown in the film Parasite. Despite a high GDP per capita and low inflation, the country faces significant challenges such as high levels of youth unemployment, economic informality, and a large number of elderly people living in poverty. The film’s story dramatically contrasts the lives of two families: one struggling in extremely precarious conditions while the other enjoys luxuries and comforts. In addition, the intense educational pressure is highlighted, where access to university and academic success become a dominant obsession both socially and economically, imposing great financial and emotional burdens on families.

Main consumer market

• Development of Korean Luxury Brands

South Korea stands out as the leading consumer of luxury products worldwide, surpassing countries such as the United States and China in per capita spending. In 2022, the country saw a significant increase of 24% in this sector, reaching a total expenditure of 15.4 billion euros. This increase is attributed to the growth in purchasing power and the desire to show social status through prestigious brands, in addition to the influence of Korean celebrities who act as ambassadors for renowned international firms. The pandemic did not stop this phenomenon, also driven by e-commerce, which has benefited brands such as Moncler and Richemont in South Korea.

South Korea stands out as the world's leading country in luxury goods consumption, eclipsing economic powerhouses such as the United States and China. With an expanding economy and a growing and prosperous middle class, South Koreans show a growing preference for exclusive and high-quality goods. This phenomenon is attributed to rising purchasing power and a consumer culture that values ​​status and personal image. The influence of celebrities and the global popularity of K-pop have also contributed significantly to the rise of the luxury market in South Korea, attracting both local consumers and international tourists in search of distinctive and sophisticated shopping experiences.

Entry of International Brands

• Presence of Global Luxury Brands

The growing demand for luxury products is strongly influenced by South Korean celebrities who endorse globally recognized brands such as Celine, Prada and Chanel, thus boosting the image of these brands among local consumers. Furthermore, e-commerce has emerged as a crucial channel for luxury fashion and accessory purchases, facilitating transactions from the comfort of home and especially appealing to Generation Z and millennials. This shift towards digital platforms has significantly contributed to the continued growth of the luxury market in South Korea, positioning it as one of the global leaders in this segment.

• Luxury brands in South Korea

European luxury brands are strengthening their ties with K-pop stars in South Korea, capitalizing on their enormous global influence. Groups such as BTS and Black Pink, known as “idols” in K-pop culture, are ambassadors for prestigious brands such as Dior, Gucci, Chanel and Tiffany & Co., elevating the visibility of these brands through their vast audiences of followers. Collaboration between K-pop artists and luxury brands not only reinforces South Korea’s position as a cultural hotspot, but also raises questions about the dynamics and control behind these partnerships, which often limit idols’ personal freedom in order to maintain a squeaky-clean and lucrative public image.

Market Segments

Shopping items in Korea offer a variety and quality that make this country an ideal destination for shopping lovers. From fashion to K-Food products and K-Beauty cosmetics, each category surprises with options ranging from internationally recognized brands to unique finds in local markets. Korean fashion is not only limited to luxury brands, but can also be found in flea markets where emerging designers offer unique garments. Socks and glasses are perfect examples of products that combine innovative design and accessibility. In terms of gastronomy, gim, ramyeon and kimchi are not only tasty delicacies, but also ideal culinary souvenirs to take home. K-Beauty cosmetics are another revelation, with high-quality products and affordable prices that capture the essence of Korean beauty. Finally, K-Pop items are not just merchandise, but authentic cultural souvenirs that offer a direct connection to Korea's vibrant music and cultural scene.