Minister Choi Hwi-yeong of the South Korean Ministry of Culture, Sports and Tourism announced on the 28th that the government plans to expand the “K-culture” market size to 400 trillion won by 2030.
According to Global Market Broadcast, an SNS account of China’s Sina Finance and Economics, Minister Choi Hwi-yeong of the South Korean Ministry of Culture, Sports and Tourism announced on the 28th that the government plans to expand the market size of “Hallyu culture (K-culture)” to 400 trillion won (approximately 40 trillion yen) by 2030.
This surpasses the previously stated goal by 100 trillion won (approximately 10 trillion yen), and Minister Choi emphasized the increasing importance of the K-culture market in the South Korean economy.
Furthermore, one of the reasons mentioned for raising the target is the revision of the scope of the K-culture industry. It is said that the K-culture industry includes not only the content industry but also lifestyle industries such as food, beauty, and fashion.
Minister Choi stated the outlook that by 2030, the export value of K-culture related products will increase from 71.8 billion dollars (approximately 11 trillion yen) in 2025 to 110 billion dollars (approximately 17 trillion yen). (Translation/Editing by Noya)