KOREAN WAVE: EXPLOITING A CULTURAL PHENOMENON AS AN INSTRUMENT THROUGH SOFT POWER IN SUPPORTING THE ECONOMIC DEVELOPMENT OF REPUBLIC OF KOREA (2002-2012)

Abstract

Republic of Korea (ROK) was one of the poorest countries after the Korean War. Then the Asian Financial Crisis 1997-1999 has made the ROK’s economy decline. At that time, Korean cultural industry became a government’s target as a growth engine of the economy. To achieve national interest in economic development, ROK is using culture as a soft power in influencing and attracting international communities with the exports of Korean cultural products. ROK has been a top exporter on electronic equipment; vehicle and steel, which is, play a major role in the economic growth. Since the first exports of Korean dramas to China and Taiwan, Korean cultural industry has been contributing to develop the economy. The term of Korean wave was indicating the first boom of cultural products in overseas. The government is heavily funding and supporting the cultural products since it was emerged in order to double the numbers of exports and spread the culture. Korean cultural products have strong appeal that able to attract international communities to interest in them. Today, ROK is an advance country with incredible economic growth.