A Brief Study on the Economic Effects and Problems with the Korean Wave and Solutions

Recently, as the status of South Korean popular culture has risen, the Korean Wave is gaining popularity not only in Asia but also in Europe, America, and South America, and is currently at the center of the global cultural phenomena. Among them, in particular, the cultural content industry has been developing rapidly thanks to the Korean Wave. Currently, the Korean Wave is spreading all over the world while bringing about positive effects to South Korea. In fact, until 2017, political and social issues such as 'North Korea/North Korean nuclear weapons' and 'Korean War' were considered as the images associated with South Korea, but from 2018, it has been shown that all images associated with South Korea are cultural content except for 'IT industry'. Given the economic effects that can be obtained not only from the positive associated images of South Korea per se but also from the complex action with various industries in South Korea, the craze for the Korean Wave can be viewed as affecting the overall national prestige of South Korea. For the steady vogue of the Korean Wave, thorough investigation of the Korean Wave and understanding of the expectations of consumers of the Korean Wave seem to be necessary