economic impact of tourism in south korea

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Source: Korea Ministry of Culture, Sports and Tourism (MCST), Korea Tourism Organization (KTO), U.S. Department of Commerce National Travel & Tourism Office (USDOC, NTTO).

South Korea has been a growing market in terms of arrivals and export revenue for the United States. Koreans’ desire for international travel and the abundance of information sharing through mass media and social networking platforms, has been contributing to the growth of outbound tourism. Unfortunately, the year 2020-2021 has been a challenging period due to COVID-19. The advent of coronavirus pandemic brought forth an unprecedented crisis and the Korean travel industry has been severely impacted by international travel restrictions. In 2021, 1.22 million Koreans traveled internationally, a 95.7 percent decrease compared to 2019. In the same year, 202,711 Koreans traveled to the United States, a 91.2 percent decrease compared to pre-pandemic year 2019. However, Korea is internationally recognized for its successful handling of COVID-19, without the enforcement of total lockdowns, and the Korean market is set to become one of first rebounding markets and top inbound travel destinations for America following the pandemic. U.S. airlines resumed flights to U.S. destinations from July 2020 after a four-month flight suspension. As more countries re-open and lift restrictive measures, Koreans are preparing to travel overseas to those selected less-hit countries. Furthermore, domestic travel has resumed at a faster pace than international travel, due in part to displacement effects of travel restrictions and changes in Korean travel behavior seeking “safer” alternatives such as road trips and other outdoor activities. Airlines and travel agents are reporting a significant rebound in international travel bookings since spring 2022 following the Korean government’s removal of mandatory 7-day quarantine upon arrival which went into effect as of April 1. Recent industry surveys show that more than 85 percent of Korean are eager to plan a vacation in the next six months and overseas travel is the most anticipated activity.

Prior to COVID-19, Koreans’ international travel was rapidly growing and offered significant opportunities for U.S. tourism exports. The U.S. remained one of the top five destinations for Korean outbound travelers and was consistently the top non-Asian and long-haul destination.  Koreans overwhelmingly choose the U.S. as their travel destination of choice, primarily because of the diversity in tourism opportunities and unique experiences, not generally available in Asia, as well as for American-style shopping; fine dining; theme parks; cultural attractions in major U.S. cities; relatively inexpensive golf experiences; and the U.S. National Parks. On average, in 2019, a Korean visitor to the U.S. spent approximately 4,900 USD per trip. This number translated to over 11 billion USD in tourism revenue from Korean outbound travelers to the United States. However, the outbreak of global pandemic posed severe travel export revenue challenges during 2020-2021. In 2019, Korea was the sixth largest source of inbound travel to the U.S., behind Canada, Mexico, the United Kingdom, Japan, and China.

Korean consumer confidence was gradually increasing across generations, but general travel confidence was hard hit by the health crisis. In the context of post pandemic era, rising discretionary spending on activities, gradual increases in vacation time, heightened globalization, and greater awareness of international developments outside the Korean Peninsula will resume and motivate more Koreans to travel overseas. Korea’s GDP per capita (PPP) rose to USD 45,220 in 2020 (according to the World Bank), placing it securely in the ranks of middle-income countries. Positive economic indicators, Korea’s addition to the U.S. Visa Waiver Program (late 2008), and the U.S.-Korea Free Trade Agreement (KORUS FTA), which entered into force in March 2012, are helping spur even more leisure and business-related travel to the U.S. In 2019, nine percent of Korean travel to the U.S. is for business purposes. 

The recent boom of social commerce (social networks and websites that give product/service sellers access to a large pool of Korean consumers) is contributing to a growing trend, as it offers all types of travel products and unique experiences.  Following COVID-19, Korean travelers use social media platforms such as Kakao Talk, Instagram, Facebook, and YouTube, and other online platforms to search for travel information.  Korea is well-known for having one of the fastest internet networks in the world, and internet penetration reaches 98 percent.  Moreover, travel booking via mobile devices continues to expand for Korean consumers and is becoming a widely used method of travel planning.  Nine out of 10 Korean travelers own a smartphone, and roughly half of those users booked flights/hotels via smartphones in the past twelve months. The number of internet and smartphone users has reached 95 percent of the Korean population.  As a result, more Korean travel companies are focusing on app-based travel platforms and creating user friendly mobile applications, since the number of Korean travelers that are using online/mobile booking services is rapidly increasing.

Korean mass media is influenced by U.S. movies, advertising, and popular culture, and this influence continues to stimulate interest in U.S. travel destinations. South Koreans’ positive perception of overseas travel and the abundance of information-sharing through mass media and social media are expected to continue to boost the growth of outbound tourism is the coming years.  

Sub-Sector Best Prospects

• Free and independent travelers.
• Group package tours.
• Family vacation packages.
• Cultural tours and scenic/nature tour packages, especially designed for Korean travelers.
• Luxury packages catering to Korea’s single, professional women, traveling for leisure.
• National parks.
• Outdoor activities.
• Culinary tours.
• Educational travel.

Opportunities

Tourism has been one of the most directly affected sectors by the coronavirus pandemic in Korea.  However, the tourism industry has demonstrated significant resilience, and when it is safe to travel again, the pent-up travel demand will increase for outbound travel. Even during the pandemic, Korean travelers never stopped researching and planning overseas trips for the future.  As the travel and tourism industry prepares plans for a comprehensive recovery, and with the help of the vaccines and other mitigation efforts, travel restrictions have been gradually lifted, Korean market is expected to bounce back to pre-pandemic level.  New emerging trends such as health safety and hygienic travel conditions have become key factors for Koreans to select destinations and tourism activities.

The U.S. has been the leading non-Asian destination for Koreans as it offers a variety of activities, culinary tours, and cultural experiences.  U.S.-bound Koreans account for 8.0 percent of Korea’s outbound market and there is room for further growth. Los Angeles, San Francisco, Las Vegas, and Seattle followed by the New York-Washington, DC corridor, have been the most popular destinations. For outbound travel, Koreans use group package tours or travel individually to visit friends and relatives. Group tours can focus on price-competitive products that entice travel agencies in Korea to sell these products. Korean travelers are generally interested in the following activities in the U.S: visiting museums, national parks, amusement/theme parks, fashion outlets, golf courses, buying OTC pharmaceuticals/vitamins and U.S. cosmetics, and visiting unique local restaurants and wineries.

To tap into the Korean market, American travel and tourism entities should provide marketing collaterals on their destinations and attractions in the Korean language and cultivate long-term relationships with the travel trade industry in Korea. There are approximately 11,000 tour agents handling outbound travel packages in Korea. Having effective educational programs and digital marketing strategies on the U.S. are key factors in accessing and revitalizing the travel demand from the Korean market. 

For more details, please contact the U.S. Commercial Service in Korea. 

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How south korea can serve as a ‘more responsible tourist’ in southeast asia, published october 6, 2021, author: sea young (sarah) kim, category: south korea.

Although the South Korean government strongly advised the public to stay home during Chuseok—Korea’s Thanksgiving—it was estimated that the population movement increased by 5 percent during this year’s holiday compared to the last. As the public eagerly waits for Covid-19 to subside and travel restrictions to be lifted, popular Southeast Asian destinations including Thailand’s Phuket have already announced their reopening to foreign travelers. Before South Koreans resume their overseas travel, however, they need to be reminded not only of the dangers of the pandemic, but also of the environmental issues that are particularly vulnerable to tourism. As people-to-people interactions rekindle through travel, South Korea can utilize its New Southern Policy Plus (NSP Plus) to help Southeast Asia economically recover and do so in conjunction with efforts to address environmental concerns as a more responsible middle power.

The pandemic has weathered the international community, but Southeast Asia has been hit especially hard due to its economic dependence on tourism. Prior to the outbreak of Covid-19 in 2019, the travel and tourism industry had contributed over $393 billion for Southeast Asia’s gross domestic product (GDP). As of 2021, the region suffered an estimated 8.4 percent loss in its GDP due to lack of inbound visits as well as an 82 percent drop in tourist expenditure. With such high economic costs borne by isolation measures, several Southeast Asian nations—including Indonesia, Malaysia, Thailand, and Vietnam—have announced plans to shift from ‘zero-Covid’ to ‘ live with virus ’ strategies.

As more and more Southeast Asian nations view Covid-19 as an endemic , one of their priority agendas will be to reopen its borders to inbound tourism. In fact, several Southeast Asian countries have already announced their plans to reopen. Thailand, for example, jumpstarted the region’s tourism in July 2021 with popular sites including Phuket, followed by Koh Samui, Krabi and Phang-Nga. Indonesia also announced it will soon accept foreign tourists to its islands of Bali insofar as they abide by the outlined protocols including an eight-day quarantine and hold proof of vaccination. In addition to Thailand and Indonesia, other Southeast Asian destinations that are forecasted to reopen in 2021 include Vietnam’s Phu Quoc island, Singapore, and Malaysia’s Langkawi.

The news of a potential travel rebound in Southeast Asia comes with much excitement for many South Koreans. Prior to the pandemic, Southeast Asia had continuously ranked as one of South Korea’s most popular tourist destinations. In December 2018, Southeast Asia accounted for over 54 percent of South Korean travel reservations, followed by Japan at 18 percent. This trend continued throughout 2019 as several Southeast Asian cities including Da Nang and Bangkok ranked as the top five most desired destinations for South Koreans. Furthermore, as Southeast Asia takes incremental steps to reopen due to continued Covid-19 cases, South Koreans are likely to be one of the first groups to be admitted. Indonesia, for example, has restricted inbound tourism to “ countries with a high level of Covid-19 containment ” which includes South Korea.

The inflow of South Korean tourists into Southeast Asia will nonetheless help the region recover from its large tourism deficits. According to the Tourism Authority of Thailand, it is believed that Thailand’s Phuket alone generated $68.1 million (2.3 billion THB) of revenue since July. Two-way cultural exchanges via tourism and other means are also being promoted as part of the South Korean government’s New Southern Policy Plus (NSP Plus)—which outlines key socio-economic challenges following the outbreak of the pandemic.

In addition to immediate economic and health concerns, however, the NSP Plus presents further developments from the original NSP by upgrading the need to cooperate on various transnational problems including those related to the preservation of oceans and the environment . Just months before the pandemic, Southeast Asia had raised concerns regarding the environmental problems exacerbated by tourism including damaged coral reefs, lack of proper sewage, and trash-filled beaches. In October 2018, it was estimated that 50 percent of Maya Bay —in Thailand’s Krabi—had been destroyed by tourists. According to YaleEnvironment360’s interview with Randy Durband, chief executive officer of the Global Sustainable Tourism Council, “ tourism [in Southeast Asia] [had] not only been badly managed, [but] it [had] not been managed at all.

South Korea’s NSP Plus fortunately presents itself as a flexible policy framework that can embrace post-pandemic tourism both as an economic tool and an opportunity for environmental cooperation. Various Southeast Asian countries are currently in the process of creating pilot tourism programs more fitting for the Covid-19 era, such as the “Phuket Sandbox.” [1] As these popular destinations discuss effective ways for managing and accommodating inbound travelers, South Korea could be of assistance in building a more sustainable tourism infrastructure. For example, in tandem with efforts to share climate data collected by satellites , South Korea could also aid NSP partner nations in monitoring waste management on beaches and surrounding areas where tourism is prevalent. This would mean extended discussions among working groups and NGOs beyond regular track one and track two level dialogues on environmental challenges. In addition to monitoring, South Korea could build on the existing cooperation on renewable energy by identifying popular tourist destinations—in addition to urban areas —as focus zones. Unlike cities where the existing population often makes it difficult to test and apply new technologies, tourist sites—especially during these times of renewal—provide more opportunities for collaboration.

Tourism hence presents a critical junction where two of South Korea’s key NSP Plus initiatives—particularly those related to cultural exchange and environmental cooperation—could meet. In fact, prior to Covid-19, tourism itself had been considered the hazard to the region’s environmental sustainability. As the nation’s most desired Southeast Asian tourist destinations reopen their borders, South Korea should take the opportunity to present itself as a more responsible stakeholder and visitor by helping them build a more sustainable tourist infrastructure.

Sea Young (Sarah) Kim is a Contributing Author at the Korea Economic Institute and visiting scholar at the East-West Center in Washington for the East-West Center-Korea Foundation U.S.-ROK Cooperation in Southeast Asia program. The views expressed here are her own.

Photo from Earth-Bound Misfit, I’s photostream on flickr Creative Commons.

[1] The “Phuket Sandbox” is a pilot tourism program established by the Thai government to reopen Phuket islands to foreign tourists. Initially, the program was designated for travelers from low- to medium-risk countries who were placed on the island for 14 days prior to receiving permission to travel to other destinations in Thailand. The Sandbox is now open to all vaccinated travelers as of early October.

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The Pandemic and Its Effect on South Korea’s Tourism Industry

By: Digi Therese K.J and Flory Ann Tacuban

Every traveler's bucket list includes a visit to South Korea. It is always one of the most sought-after and popular destinations around the world. The Korean tourism industry is driven by the cultural trend known as 'Hallyu,' or Korean wave. The trend began in popular media such as K-Pop artists performing on stage and TV dramas, and then spread to businesses such as cosmetics, food, and technology. 

The promotion of Korean goods purchases in other countries has a high value. The Korean Wave is producing the Korean Wave effect, which is expanding across all industries. But the pandemic changed the way how tourism is expanding. 

The pandemic toll on South Korea

The pandemic gave no remorse when it hit the world. South Korea, one of the leading nations in culture, economy, and entertainment too was hit adversely. The virus case was first reported on 20th January 2020. 

With the rising cases, the government undertook several effective measures, which made South Korea one of the best nations in controlling the pandemic without having to impose nationwide lockdown. 

By August 2020, the government had to impose upon several new stringent measures as the cases hiked up, leading to city-specific lockdowns, shutting down of markets, and mainly the closing of gates towards inbound tourism.

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South Korea’s Travel & Tourism Expected to Create Nearly Half a Million Jobs Within the Next Decade

Travel & Tourism’s GDP expected to outpace national economy over the next 10 years

Sector could near pre-pandemic levels by 2023

London, UK: The World Travel & Tourism Council ( WTTC ) has revealed South Korea’s Travel & Tourism is expected to create nearly half a million jobs over the next decade.

The forecast from WTTC ’s latest Economic Impact Report (EIR), which shows an average of nearly 49,000 new jobs every year, to reach nearly 1.8 million by 2032, also reveals the sector will outpace the overall economy for the next 10 years.

According to the report, South Korea’s Travel & Tourism’s GDP is forecasted to grow at an average rate of 4.8% annually between 2022-2032, significantly outstripping the 1.8% growth rate of the national overall economy.

This will boost the sector’s contribution to nearly ₩116.9 trillion, representing 4.6% of the total economy.

In 2023, the forecast from the global tourism body shows the sector’s contribution to South Korea’s GDP could reach nearly ₩83.4 trillion, only 4.7% behind pre-pandemic levels.

Looking to this year, the global tourism body predicts the sector’s contribution to GDP is expected to grow 30.6%, to reach nearly ₩73 trillion, amounting to 3.5% of the total economy, although employment levels in the sector are set to remain stagnant, to reach nearly 1.3 million.

Julia Simpson, WTTC President & CEO, said: “After the devastating impact the pandemic caused to South Korea’s Travel & Tourism sector, the future looks bright for the economy.

“We applaud the government for easing of travel restrictions, a move that will no doubt have a positive effect and recover millions of jobs.

“However, pre-departure testing in no longer required in many countries around the world and we urge the government follow the lead and allow travellers to move freely once again.”

Before the pandemic, South Korea’s Travel & Tourism sector’s contribution to GDP was 4.4% (₩87.5 trillion) in 2019, falling to just 2.7% (₩54.2 trillion) in 2020, which represented a shocking 38% loss.

The sector also supported nearly 1.3 million jobs in 2019, falling to just over 1.2 million in 2020, when the pandemic devastated the sector.

However, due to severe and highly disruptive travel restrictions, the global tourism body’s latest EIR report reveals that 2021 saw a sluggish the recovery for the country’s Travel & Tourism sector.

Last year, its contribution to GDP climbed by a mere 3% year on year, to reach nearly ₩ 55.9 trillion.

The sector also saw a recovery of just under 2,000 Travel & Tourism jobs, representing a positive rise of just 0.2% to more than 1.2 million.

The sector’s contribution to the economy and employment could have been higher if it were not for the impact of the Omicron variant, which led to the recovery faltering around the world, with many countries reinstating severe travel restrictions.

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Japan Travel & Tourism Could Approach Pre-Pandemic Levels Next Year

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Charting the growth of South Korea’s tourism industry

As the world emerges from the shadows of the Covid-19, South Korea’s tourism sector is witnessing a remarkable rebound. Renowned for its breathtaking landscapes, the nation is strategically leveraging a diverse array of events to attract tourists in 2023.

Notable among these are the Seoul Lantern Festival and the 2023 K-Link Festival featuring popular K-Pop stars. Also, the country will host the 2024 Winter Youth Olympics next year.

Besides, the country’s distinctive culture, blending the contemporary appeal of K-pop with the timeless charm of traditional arts, has captured the attention of a global audience. This cultural magnetism forms a sturdy foundation for enterprises within the country’s flourishing tourism sector.

Before the onset of Covid-19, South Korea recorded 17.5 million visitors in 2019 . Notably, a record-breaking $21.5 bn was reported in 2019 for tourist expenditures in South Korea, with an average spending of $1,230 per visitor.

However, the pandemic negatively impacted South Korea’s tourism for nearly two years. In 2021, only about 967,000 foreign tourists ventured into South Korea. However, the numbers nearly tripled to approximately 3.198 million in 2022. The positive trajectory continues into 2023, with an estimated 6.5 million foreign tourists visiting the country from January to August, as per government data.

Additionally, the country’s tourism market, currently valued at $35.8 mn, saw international tourist arrivals rise above 1 million in July. This happened for the first time since the start of the Covid-19 pandemic. Subsequently, in September, the growth rate for tourist arrivals was 227.3%, amounting to 1.094 million foreign tourists.

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“South Korea’s tourism sector has been strengthening during 2023 and is expected to show further improvement during 2024, as international tourist travel in the Asia-Pacific region continues to recover,” says S&P Global .

Government measures driving South Korea’s tourism sector

Experts believe that a rebound in South Korea’s tourism industry has been facilitated by a series of government measures aimed at boosting the sector. This year, South Korea has allocated significant financial resources to support tourism-related initiatives.

To promote domestic travel, the government plans to subsidise local trips for employees of small and mid-sized firms. Lowered railroad fares and discount coupons for popular tourist attractions are also set to further incentivise travel.

Moreover, the 6th Master Plan for Tourism Development (2023-2027) by the government delineates a strategic framework aimed at the expansion of the tourism sector. To enhance tourism exports, the plan recommends diversifying the inbound market and integrating promotional activities with K-culture. The government’s 2024 tourism budget of 1.36 tn won ($1 bn) will focus on drawing foreign tourists to the land and plugging in the tourism deficit.

“Seoul’s government has announced measures that will ease travel restrictions and is targeting 30 million tourists by 2027…. (it) intends to achieve this number through digital tourism platform services and Korean-content storytelling tour programs, featuring cities such as Gyeongju, Jeju City, Suwon, Busan, Chuncheon, and, of course, the capital Seoul,” says GlobalData .

Looking ahead, South Korea’s tourism market is expected to expand at a CAGR of 8.10% between 2023 and 2028, amounting to $77.7 mn, as per Future Market Insights . The market research firm also informs about a few challenges facing South Korea’s tourism.

“Due to a few factors, it can be difficult to promote South Korea’s tourism market…Political tensions spurred on by unsolved problems with neighbors like North Korea, China, and Japan have made this region a potential hotspot that could suddenly erupt,” it adds. Along these lines, South Korea’s reliance on Chinese and Japanese tourists for a significant portion of its international arrivals can pose significant challenges in the future.

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How Has The Korean Wave Influenced Tourism In South Korea?

The Korean entertainment industry, with its dramas and chartbusting K-pop, has increased the cultural exportation of the brand ‘Korea’.

Before we dive into the effect of the Korean Wave on tourism, it’s important to understand what the wave is. The Korea Tourism Organization (2012) defines the Korean Wave as “a favorite phenomenon of Korean popular culture abroad”. The term was originally coined by the Chinese press in the 1990s when Korean dramas like ‘Jealousy’ (1993) and ‘What is Love All About?’ (1997) were first shown on China State Television. They gained an extensive audience and recognition and kickstarted the Korean Wave. Later, it spread to Japan through music. Thanks to the many bands such as BoA, Girls Generation, Super Junior, Big Bang, BTS, GOT7, and BlackPink, the Korean Wave exploded across not just Asia, but the world. Today, the term Korean Wave (Hallyu in Chinese) is synonymous with Korean culture, and its increased popularity and cultural impact, and includes everything from television, movies, music, and food, to sports. 

The Korean Wave spread like wildfire through different stages: In the 1990s, it swept across  Japan, China, and Taiwan; in the early 2000s, Hallyu went global with dramas being broadcast in the Middle East, Australia, and the American continent; and in 2020, K-pop bands like BTS sold out stadiums and topped international music charts. 

Impact On Tourism

The influence of the Korean Wave on international fans is something that cannot be ignored. But has this influence impacted the country’s outbound or inbound tourism? Some scholars argue that in 1962, South Korea was viewed as an unfavourable tourist destination. This was due to student riots and perceptions of political instability, further enhanced by overseas news media reports that showcased only the ongoing tensions between North and South Korea. However, this changed after the 1988 Seoul Olympics which allowed a larger audience to witness Korea differently. Tourism increased but the government did not fully recognise its potential until after further economic growth following co-hosting the 2002 soccer World Cup with Japan. 

Since the late 1990s, Hallyu tourism has trended across the globe and attracted more and more foreign fans to visit Korea. ‘Hallyu tourism’ refers to those foreigners who visit Hallyu tourist attractions due to the influence of this Korean wave. The cultural influences brought by the Korean Wave have proven to be an essential component of South Korean tourism. The wave brought Hallyu stars, which include Korean actors, pop stars, and athletes, to a world platform, and their popularity became an effective and profitable method to attract tourists. According to Martin Roll, the Hallyu effect has been tremendous, contributing to 0.2 percent of Korea’s GDP in 2004, amounting to approximately USD 1.87 billion. In 2019, Hallyu had an estimated USD 12.3 billion boost to the Korean economy.

How Has The Korean Wave Managed To Impact The Tourism Industry?

The government’s involvement:.

The Republic of Korea became a sought-after tourist destination both regionally and internationally since the Korean Wave or Hallyu started being used by the Korean government to increase its tourism efforts. The promotion of Hallyu stars by the government through various campaigns led to an increased desire to travel to Korea and increased attention to Korean culture. Whether it is SouthEast Asia or the world, the concept of the Korean Wave has increased the cultural exportation of the brand ‘Korea’ and increased the influx of tourists to Korea.  

Hallyu’s power to attract can be seen not only in Southeast Asia but across the world as well. It has led to K-pop/K-drama-based tours that take die-hard fans to the best K-pop/K-drama locations around the country. The Korean government, through its Ministry of Culture, Sports, and Tourism (MCST) has used the Korean Wave to not just increase tourism to South Korea but also to encourage the purchase of Korean cultural products, as well as national goods like Samsung and LG electronics. All of it leads to increased GDP. 

The worldwide interest started with K-pop performers such as Girls’ Generation, Super Junior, Big Bang, and Psy’s popularity. Their image transformed the social and cultural image of Korea. When once Korea was seen as politically unstable, it was now viewed as a place of wealth and opportunity due to the high fashion of these stars, their music, and their message. This interest in Korean culture also led to an avid interest in the Korean language, electronic items, fashion, beauty products, and cuisine. While Western culture has a certain amount of hegemony over the planet, it seemed South Korea wasn’t far behind.

Kpop Or Kdrama Locations

Various universities in South Korea were assigned to produce the next generation of directors, producers, and actors. Film studios were actively promoted by the government and additionally, budgets were allocated to creating agencies ( Hallyu agencies under the umbrella of South Korea’s Ministry of Culture, Sports and Tourism) that primarily focused on promoting tourism based on Korean culture and K-Drama locations such as movie sets and television sets as tourist destinations. Today while the government owns many of the media outlets, there are numerous private organisations, and the philosophy is no longer domestic-orientated but rather internationally focused and promoted. These departments focus on promoting the Korean Wave through avenues such as food, sports, or celebrity events. The government has also promoted and encouraged the Korean Broadcasting Commission (KBC) to visit international film festivals.

In 2019, Maria Teresa Ogando Barros in ‘The Hallyu Wave and Tourism in South Korea’ notes that South Korea accounted for a total of 17,502,623 international visitors due to the Hallyu Wave, a 14 percent increase as compared to 2018, and a tourism expenditure of US$28,855,400,000 was made during this year – an impact of Hallyu Wave. East Asia and the Pacific countries still make up for 83.1 percent of tourists visiting South Korea, with 34.4 percent of those being Chinese visitors (Korea Tourism Organisation). 

Fashion Tourism And Medical Tourism

Due to the Korean Wave, Seoul, the capital city of South Korea, became a global icon of fashion, beauty and culture. Fashion that was closely related to Hallyu idols, served as a promotional image of South Korea. So much so that many Hallyu fans began visiting Korea to look like their favourite pop stars or Hallyu stars. And because of that aspiration, medical tourism, particularly cosmetic surgery and the cosmetics industry were also directly affected by the Korean Wave. Dobo Shim in his paper ‘ Waxing the Korean Wave’, 2011 notes that Hallyu fans visit Korea to get plastic surgery to look like their idols. 

A Hybrid Of Different Cultures 

The Korean Wave includes Korean music and drama.  Korean music or the K-pop industry created a hybrid genre where they would mix American music styles and choreography with Hangul. An idol’s image was tailored to Western standards. The Korean Wave was therefore a mix of Asian and Western tastes. According to Howard K’s ‘Exploding Ballads: Due to the Transformation of Korean Pop Music’, “…more and more musicians appropriated foreign music styles”. 

The success of Kdrama culture is believed to be due to its apolitical nature and its adaptability to a majority of cultures. South Korean dramas have something for everyone. The dramas evolve with the audience, showing shifts in generational mindsets, and appealing more and more to an audience beyond South East Asia. Even ‘ Forbes’ notes that JTBC’s ‘Itaewon Class’ (2020), might not be the first drama to feature a transgender character in a positive light, but it might be the first one to celebrate a character’s transition. 

This adaptation has led to Kdrama’s increased popularity. According to Ulara Nakagawa’s article “Korea’s Hallyu Boom?” , a plethora of ‘fan clubs’ have sprung up around the world, not only to support their K-pop groups but also to work towards various causes. One of the more recent examples is how in June 2020 the BTS ‘Army’ raised over $1 million for the Black Lives Matter movement in just 25 hours .

Globalisation And New Technologies Helped

Of course, South Korea has used globalisation and digitalisation to promote its cultural media.  The Korea Creative Content Agency USA highlights that while globalisation was initially created through traditional media, it was new media that brought different means of mass communication using digital technology that globalised the Korean Wave. Having played this significant role in the continued growth of Hallyu, the internet and social networking services (SNS) further led to significant growth in tourism.

Government agencies such as the Ministry of Culture, Sports and Tourism (MCST) and the Korean National Tourism Organisation (KNTO) have regularly published news articles about Hallyu on their digital media websites and even produced in-depth reports on the popularity of Kdramas and Kpop. The ease of access of Kdrama or Kpop through various platforms enhanced the spread of Korean culture. What began with the airing of a television drama in China in the early 1990s, transformed into a global phenomenon within just two decades. 

Cancelling Out The Language Barrier

The digitalisation of the Korean Wave enabled access to Korean drama with subtitles, cutting language barriers. It encouraged people to take an interest in Korean culture and language, leading to the opening of Korean cultural centres in other countries. Korea Economic Institute Of America notes that the only language to experience significant growth in the United States over the last few years was Korean. The number of students studying Korean increased by 44.7 percent even as overall language enrollment decreased by 6.7 percent.

Tourism Promotions

Prominent actors, actresses, and K-pop stars are used by government agencies to promote Korea as a tourist destination and have allowed Korean businesses to break into regional markets. According to the Korean Culture and Content Agency’s ‘The Korean Wave. Entertaining more than half the world, the Korean Wave has improved Korean business access and profits both regionally and internationally. Tourism campaigns regularly feature K-pop idols. For example in 2018, eight members of EXO were made honorary ambassadors of Korean tourism. They were not just extremely popular, they also became a practical way to connect K-pop and tourism.

After Korean singer Psy’s ‘Gangnam Style’ became YouTube’s most-viewed video of all time in 2012, tourism officials posted a guide to the real Gangnam (one of Seoul’s most affluent areas). BTS under Big Hit Entertainment, has been strongly positioned as the main player for Hallyu. In  2018, Seoul launched seven advertisements with BTS, to amp up the appeal and tourist-friendly nature of Seoul.

Also Read: 9 K-pop/K-drama Locations You Must Visit If You’re A True Fan

Success And Failure?

While we can all agree that the Korean Wave has led to South Korea becoming the world’s leading exporter of popular culture, the wave’s influence has also drawn attention to the weaknesses within Korean society or the entertainment industry as a whole. 

Wage Gap Due To Gender 

Like many androcentric societies, even in South Korean society, gender inequality has been perpetuated and deepened by historical practices and traditions. In Korean society, hierarchical and patriarchal values go hand in hand, thus reinforcing gender norms. Even the K-pop idol industry contains elements that reinforce a sexist culture, all of which continue to be a big obstacle for women to pursue an equal opportunities in any industry. Many girl groups in K-pop or female stars are criticised more harshly than their male counterparts for the same behaviour.

It is no surprise that Korea has the biggest gender wage gap among OECD nations. According to a report by ‘Koreaboo’, Korea’s National Tax Service released shocking findings on the difference in income between male and female actors and singers: “In the entertainment industry, men made 9 million won ($ 7,605) more on average than their women counterparts. However, this disparity was not observed within the top 1 percent. As far as the music industry is concerned, male stars made an average of 53 million ($44,789) more than female stars. This disparity was true within the top 1 percent where male singers earned more than double their female counterparts.

Unnatural Standards Of Beauty

Korea’s unnatural standards of beauty can easily be seen in the kind of K-pop or Hallyu stars produced by the industry. While both male and female stars are subjected to the pressure of looking ‘young and physically attractive’, the female stars have specifically stricter standards and more limitations. They are expected to live up to all but impossible standards. There are many who say that Korea is a society obsessed with appearance when cosmetic-surgery clinics are ‘as many as convenient stores’. Hallyu culture cuts into the fabric of beauty perception and its influence on beauty standards. 

LGBTQ Representation

Another threat that concerns both the entertainment industry and South Korea as a tourism destination is the lack of LGBTQ+ rights and their representation in the industry. The Kdrama and Kpop industry hasn’t been very open about LGTQ+ rights because they are still not accepted in mainstream society in the country. In Korea, where same-sex marriage is still illegal, and most still hold onto conservative mindsets, those who struggle to find their sexual identity also feel the need to repress it. It could also appear as a drawback for attracting LGBTQ+ tourists. 

Lawsuits Against The Entertainment Companies

The K-pop industry has an extremely demanding nature. The recruitment practices, rigorous training system, and the continual pressure to be ‘perfect’—have led to many artists filing lawsuits against their own companies. At different training academies, many well-known entertainment agencies usually first recruit dozens of students, bind them in contracts that last up to 15 years or more, and train them so that they can become ‘global stars’. Decisions about their costumes, choreography, lines, and monthly evaluations are usually not up to the idols to make. The demanding nature of the industry has led to many issues with how trainees, idols, and actors are treated by their companies.

One of the biggest examples of these lawsuits is when the group B.A.P, which debuted in 2012, filed a lawsuit two years later against their company TS Entertainment. They reported many unfair terms in their contract. This lawsuit led to the South Korean government revising several contracts. The case became a massive reference in the industry. The lawsuits following this highlighted how the trainees or popstars were treated by the entertainment industry, and have in one way or another created a grim image of South Korea as a tourism destination.

Abuse And Mental Health

According to OECD Data , South Korea has the second-highest suicide rate among OECD countries. Indisputably, lack of attention to mental health is a growing problem in the country and the Hallyu industry. It’s unfortunately apparent in the spate of suicides involving K-pop stars in recent times. It is not uncommon for artists to go on a hiatus due to anxiety or depression, or even die by suicide. In 2017, Kim Jong-hyun, 27, a member of SHINee, died by suicide. In  2019, Jeon Mi Seon (actress), Sulli (actress and former member of f(x)), Goo Hara (actress and former member of KARA), and Cha In Ha (actor and member of Surprise U) also died by suicide.

Mental health issues are still taboo in South Korean society, therefore people either hide their issues or prefer not to get treated. Further, the mental health problems caused by various reasons, be it online abuse or unnecessary high standards of beauty, have created a negative image of the South Korean entertainment industry, and also led to a high percentage of people seeing South Korea as an undesirable country to visit.

Sex Scandals

Reports of sexual and other forms of abuse have plagued the South Korean entertainment industry for years. In March 2019, several male Kpop stars, including Seungri, a member of the boy group Big Bang, Choi Jong-hoon, a former member of FT Island, and singer-songwriter Jung Joon-young were implicated in a spycam sexual abuse scandal, also called the Burning Sun scandal. The successive accusations in the case not only highlighted sexual assault but also involved sex trafficking, secret and non-consensual filming, and video distribution of sexual acts, drug trade, rape, police corruption, and tax evasion in the industry. The case resulted in a huge investigation and re-opening of sex crime cases related to the entertainment industry. 

Also, the suicide of soap star Jang Ja-Yeon highlighted South Korea’s deep-rooted misogyny. These scandals, once again, lent to South Korea’s image of being an unsafe country for female residents and travellers.

BTS And Tourism

The best example that showcases the worldwide spread and rising relevance of South Korean media is the K-pop group Bangtan Sonyeondan or BTS. Their success appears to have improved Kpop’s image, raised the global recognition of Korean artists, and furthered interest in Korean culture. According to ‘ Business Insider ’, BTS increased South Korea’s popularity, contributing to a surge in tourism. Seemingly breaking all kinds of cultural barriers, their 2020 album Map of the Soul: 7 continues to dominate the world. 

Just last year, BTS’ World Tour ‘LOVE YOURSELF: SPEAK YOURSELF’ concluded in Seoul in October at the Seoul Olympic Stadium. According to a research study conducted by the Korean University professor Pyun Ju Hyun, the event drew around 187,000 tourists, of whom approximately 23,000 attended the concerts, and an average of 3 in 10 visitors went to Seoul. Soompi reports that this resulted in an increase in the average number of visitors in South Korea in 2019—approximately 87,000 more people than average.

In fact, according to a study by South Korea’s Ministry of Culture, Sports and Tourism and a government tourism institute BTS’s US-chart-topping single ‘Dynamite’ of 2020 was predicted to generate more than $1.4 billion for the South Korean economy and thousands of new jobs in the country. The study excluded foreign tourism due to the tight travel restrictions imposed by Seoul over the coronavirus pandemic. However, the ministry added, “If we include the projected tourism revenue down the road… we expect the economic impact to be stronger.”

How Can Hallyu And Tourism Work Together?

The Hallyu industry is a solid export product for the country and owns a stable foundation to develop a high-quality tourism industry. Strong government support and recognition of Hallyu could be a key element that can prove its power and relevance, and the likelihood of Hallyu tourism can be further developed annually. However, South Korean society and the Korean government have to work together, on the weaknesses mentioned above, especially the ingrained misogyny and gender inequality. These drawbacks paint a negative picture of the country and prevent female tourists from visiting. Also, legal actions must be introduced into the entertainment industry, to deter the recurrent issues arising from artists’ mistreatment, which not only goes against basic human rights but also feeds the controversial image of the entertainment industry.  The idea that Hallyu creates and affects South Korea’s image as a destination might be bound to subjective interpretation and personal preferences, but it is clear that Hallyu tourism is strongly related to globalisation. Therefore, the country should benefit from the fact that newer generations seem to be more open-minded and accepting of different cultures. Moreover, these newer generations seem to be more interested in themed travels and cultural experiences which are likely to increase the influx of tourists interested in film or music.

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South Korea’s economic growth beats forecast as exports rise

South Korea’s economic growth accelerated more than expected last quarter as exports recovered and construction investment rebounded, brightening prospects for President Yoon Suk-yeol after an election setback that threatens his economic initiatives.

The economy grew 3.4% year on year, also bigger than the forecast of 2.5%.

The faster-than-expected expansion reinforces the view among policymakers that South Korea’s economy will grow more than 2% this year.

Global demand for technology products such as semiconductors has been a key driver, while momentum is starting to broaden to other industries.

Growth in exports sped up to 8.3% in the first quarter from 5.7% in the previous period, according to Hyosung Kwon at Bloomberg Economics.

Construction investment returned to growth in the first quarter after a 4.5% contraction in the previous three-month period.

The government said in February that it would accelerate the implementation of infrastructure projects and public-private partnerships to shore up industry, where activity has been hurt by credit risks.

"It’s a surprise with exports mostly driving the recovery while domestic spending slowly improves,” said Kwon Young Sun, chief economist at Woori Finance Research Institute.

The numbers provide the central bank more reasons not to rush ahead with an interest-rate cut, especially at a time when the won has weakened against the dollar, he said.

From the previous quarter, private consumption rose 0.8%, while government spending was up 0.7%. Exports in real terms increased 0.9%, as facilities investment fell 0.8%, according to the BOK.

Manufacturing output increased 1.2% from the previous quarter, with chemical products and transportation equipment leading the activity.

Public works and building construction played a central role in boosting the construction industry, which grew 4.8% in the first quarter, the central bank said.

Risks remain for the economic outlook.

Central banks around the world have kept interest rates elevated to tame inflation, and Middle-East tensions are flaring up.

South Korea’s currency briefly weakened to the key psychological level of 1,400 won per dollar last week, prompting warnings of intervention from policymakers.

Debt concerns continue to cast a shadow over the construction industry, and consumers are tightening their budgets as they cope with persistent price pressures.

"The fact that net exports are a core driver of growth with the largest contribution will stay unchanged as inflation keeps putting pressure, and real purchasing power among households remains insufficient,” KB Securities economist Gweon Heejin said in a note before the GDP release.

Government spending has also slowed compared with the pandemic era, when stimulus helped tide the economy over.

Yoon has sought to restore fiscal health by exercising restraint ever since taking office in 2022.

That policy stance may change in the wake of parliamentary elections earlier this month that resulted in a drubbing for his People Power Party.

The president will now be under pressure to accommodate opposition demands for more stimulus.

Lee Jae-myung of the opposition Democratic Party has called, in particular, for handouts worth about $200 for each citizen.

The electoral defeat also complicates Yoon’s efforts to reduce wealth taxes and buttress relations with the U.S. and Japan during the remainder of his tenure that ends in 2027. Yoon has made stronger economic and technology ties with the U.S. a centerpiece of his administration.

The trend in worldwide trade bodes well for South Korea, with the World Trade Organization expecting a gradual recovery in the early months of 2024.

"But any gains could be easily derailed by regional conflicts and geopolitical tensions,” the global organization said last month.

China will play a key role for its neighbor. The nation remains South Korea’s biggest trading partner, with its exports to the world’s second-largest economy rising 9% from a year earlier for the first 20 days of April.

South Korea’s shipments to the U.S. rose 22.8%, while those to Vietnam increased 26.6%.

There are signs the situation in China is improving.

Its manufacturing activity expanded in March for the first time since September, while GDP figures for the first quarter soundly beat expectations, with the nation targeting about 5% growth for the year.

Still, growth was mostly driven by public investment, with private demand remaining fragile.

As South Korea’s economic growth picks up, it can provide more scope for the central bank to keep its benchmark rate restrictive for longer. Keeping its focus on inflation, the BOK held the rate steady for a 10th time earlier this month.

"Part of the reason is the economic recovery so far — powered by external demand — has remained remarkably strong even with restrictive levels of interest rates,” Kelvin Lam, a Pantheon Macroeconomics economist, said in a note.

He expects a rate cut in the third quarter.

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