Korean Wave Crisis Materializes
The Korea Broadcasting Station (KBS), which produced the drama “Full House” starring the pop singer ‘Rain’ and the actress Song Hye-gyo, requested a review from the Chinese government last September in order to export the drama to China.
But the Chinese government has given no response even one year into the review. KBS, which expected the two popular stars to make waves, are worried of this unexpected obstacle.
The broadcast industry analyzed that the Chinese government is delaying the review because of the influx of Korean dramas into the country.
Since this year, media exports, including drama and music, have been facing grave difficulties.
According to the ‘Extended Balance of Payments Services (EBOPS)’ issued by the Bank of Korea on September 19, the amount of exports in media contents from January to July this year was $97 million, while imports were $135.4 million, amounting to a loss of $38.4 million.
The Korean Wave crisis predicted within the cultural sector has been proved through statistics.
Korean Wave Crisis Begins-
According to the Ministry of Culture and Tourism, in 2004 exports in music, movies, and broadcast content were $162.81 million, with imports of $145.35 million, a gain of $17.46 million. The broadcast program has been making a profit for four straight years since 2002.
With the net profits for broadcast programs increasing each year, the broadcasting industry predicts that the Korean wave will continue for at least a few more years.
But according to the EBOPS created by the Bank of Korea starting from this year, the ‘Korean Wave’ may well turn out to be a ‘Cold Wave’ soon. EBOPS is a statistical method to analyze the trade patterns of 11 service sectors including media, logistics, travel, and communications.
The Bank of Korea said, “Since we started analyses this year, we don’t have data for previous years, but the current data can be seen as an indicator that the Korean wave seems to be ebbing.”
Korean Wave Cools-
The Japan Nihon TV website has a ‘Dramatic Korean Wave’ corner. It is a corner by Nihon TV that introduces Korean dramas already broadcasted or about to be broadcasted, and includes twelve popular Korean dramas such as “Romance in Paris” and “Autumn in My Heart” with the actors, plot, and broadcast date.
But there are no Korean dramas that have been shown since this year. Korean dramas are no longer as popular as before in Japan.
According to the “Report on the Situation and Prospects of Korean Dramas in Japan” produced by the Korean Broadcasting Institute (KBI) in March this year, 36 Japanese broadcasting stations as of February this year showed Korean dramas, a decrease by half since February last year with 64 stations.
Media experts state that it is becoming harder to watch Korean dramas on Japanese terrestrial TV channels.
Lee Man-jae, head of the industry research team of the KBI, said “After Winter Sonata became popular in Japan, dramas with similar plots cropped up, and Korean dramas and movies are rapidly losing its popularity in Japan.”
Korean Wave at a Crossroad
Economists analyzed the current difficulties that the Korean wave faces by saying “Its competitiveness has been marred by bland themes and stories, and importing countries have also strengthened restrictions due to worries on cultural imperialism.”
Exports of audio and video contents have the inherent effect of enhancing a country’s image, and experts point that the losses in this area should not be taken lightly.
Goh Jeong-min, senior researcher of Samsung Economic Research Institute, emphasized, “As Hong Kong has been relegated to the periphery of Asia’s cultural market, the Korean wave will also be cast aside if we don’t enhance our product’s competitiveness,” and added, “The Korean wave should be expanded to include online games and services that combine broadcast and telecommunications.”
But the Chinese government has given no response even one year into the review. KBS, which expected the two popular stars to make waves, are worried of this unexpected obstacle.
The broadcast industry analyzed that the Chinese government is delaying the review because of the influx of Korean dramas into the country.
Since this year, media exports, including drama and music, have been facing grave difficulties.
According to the ‘Extended Balance of Payments Services (EBOPS)’ issued by the Bank of Korea on September 19, the amount of exports in media contents from January to July this year was $97 million, while imports were $135.4 million, amounting to a loss of $38.4 million.
The Korean Wave crisis predicted within the cultural sector has been proved through statistics.
Korean Wave Crisis Begins-
According to the Ministry of Culture and Tourism, in 2004 exports in music, movies, and broadcast content were $162.81 million, with imports of $145.35 million, a gain of $17.46 million. The broadcast program has been making a profit for four straight years since 2002.
With the net profits for broadcast programs increasing each year, the broadcasting industry predicts that the Korean wave will continue for at least a few more years.
But according to the EBOPS created by the Bank of Korea starting from this year, the ‘Korean Wave’ may well turn out to be a ‘Cold Wave’ soon. EBOPS is a statistical method to analyze the trade patterns of 11 service sectors including media, logistics, travel, and communications.
The Bank of Korea said, “Since we started analyses this year, we don’t have data for previous years, but the current data can be seen as an indicator that the Korean wave seems to be ebbing.”
Korean Wave Cools-
The Japan Nihon TV website has a ‘Dramatic Korean Wave’ corner. It is a corner by Nihon TV that introduces Korean dramas already broadcasted or about to be broadcasted, and includes twelve popular Korean dramas such as “Romance in Paris” and “Autumn in My Heart” with the actors, plot, and broadcast date.
But there are no Korean dramas that have been shown since this year. Korean dramas are no longer as popular as before in Japan.
According to the “Report on the Situation and Prospects of Korean Dramas in Japan” produced by the Korean Broadcasting Institute (KBI) in March this year, 36 Japanese broadcasting stations as of February this year showed Korean dramas, a decrease by half since February last year with 64 stations.
Media experts state that it is becoming harder to watch Korean dramas on Japanese terrestrial TV channels.
Lee Man-jae, head of the industry research team of the KBI, said “After Winter Sonata became popular in Japan, dramas with similar plots cropped up, and Korean dramas and movies are rapidly losing its popularity in Japan.”
Korean Wave at a Crossroad
Economists analyzed the current difficulties that the Korean wave faces by saying “Its competitiveness has been marred by bland themes and stories, and importing countries have also strengthened restrictions due to worries on cultural imperialism.”
Exports of audio and video contents have the inherent effect of enhancing a country’s image, and experts point that the losses in this area should not be taken lightly.
Goh Jeong-min, senior researcher of Samsung Economic Research Institute, emphasized, “As Hong Kong has been relegated to the periphery of Asia’s cultural market, the Korean wave will also be cast aside if we don’t enhance our product’s competitiveness,” and added, “The Korean wave should be expanded to include online games and services that combine broadcast and telecommunications.”
posted by Flor at 6:58 AM
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