The Korean cultural exports boom fuelled by PSY Gangam Style pop song and Korea BB Cream, has also resulted in boom in hotel reservations and tours. Korea recorded 11.1 million visitors in 2012, 13.4 percent higher compared to 2011's figure.
Seoul, Korea (PRWEB) January 15, 2013
With Korea's surging popularity led by two major players - PSY Gangnam pop song and Korean BB Cream, Korea is now enjoying a new boom in cultural exports that is expected to overtake the all-time high figure of US$4.3 billion in 2011.
The Korean cultural exports industry recorded an average growth of 22.5 percent a year from 2007 to 2011 based on figures released by the Korean Ministry of Culture, Sports and Tourism. Ever since the emergence of Korean BB Cream and PSY Gangnam Style hit song, this industry has experienced a boom in almost all of its 11 sectors which cover cultural contents including publishing, music, movies and games.
The cultural exports boom in Korea which is also known in Asia as "Korean wave" - a term dubbed in mid-1999 by Chinese journalists, was showing signs of slowing down but took a surprising turn when Korea's PSY Gangnam Style pop song and BB Cream received enormous global attention that turned heads toward Korean cultural exports once again.
Korean culture analyst, Michael Shin, said the Korean wave is "an interesting puzzle" which is not surprising considering that even many Koreans are quite puzzled as to how Korea's cultural exports managed to reach a large portion of North American audience that do not even speak Korean. In early December 2012, G-Dragon, a popular Korean music artiste, was reported saying "I don't quite get how it's functioning. But I'm certain that we need to grab the approval when we have the chance"
It turns out to G-Dragon's statement holds true when PSY who hails from Seoul, Korea, seized the opportunity after being under immense limelight with the release of his PSY Gangnam Style pop song that went viral across all social media platforms. He grabbed on this opportunity by performing worldwide even for free in major states including New York to increase global publicity. PSY's efforts paid off when his music video became the first on Youtube to reach the one billion views milestone on December 21st, 2012. The rapper then said "I didn't even imagine 'Gangnam Style' would get 1 million views, let alone 1 billion views! Is this the Tru-PSY show?" and twitted "Finally becoming BillionStyle".
Besides PSY's Gangnam Style pop song that fuelled the new Korean cultural boom, BB Cream from Korea is the second major player that led to this latest boom. Korean BB Cream is the world’s first all-in-one skin care cosmetic for mass consumer market that received enormous global attention starting from early 2012. While it had now become a worldwide trend, a less known fact is that BB Cream for mass consumer market first started off right in Korea.
In the beauty industry, Korean BB Cream had caught the attention of many global beauty brands. Major brands such as Loreal, Clinque, and Garnier are now offering various types BB Cream inspired by Korean formulations which are designed to provide coverage, moisturise, nourish and improve skin complexion. Olay and Chanel also launched their own version of BB Cream under the name “CC Cream”. Besides that, global retailers are also not missing out and this includes AsianFashionCity.com, a global distributor and retailer offering reputed BB Cream from top Korean brands since 2008. The Korean BB Cream offered by Asian Fashion City include those made using natural plant extracts as well as innovative ingredients such as snail secretion, caviar and gold extracts. A spokesperson for AsianFashionCity said "Korean BB Cream popularity is expected to increase in 2013 and we believe this will cause the volume of Korean cultural exports to hit a new high this year".
Outside of the beauty industry, the Korean cultural exports boom fuelled by PSY Gangam Style pop song and Korea BB Cream, has also resulted in boom in hotel reservations and tours, especially in Seoul where the actual district of Gangnam is located in. It has indeed curiously drawn people to explore the culture and heritage of Korea. The country's Culture Minister said Korea recorded 11.1 million visitors in 2012, 13.4 percent higher compared to 2011's figure.
This Korean cultural exports boom led by PSY’s Gangnam Style music and BB Cream from Korea have made their mark in history and made Korea more famous than ever. Korea has not, in a while, gained this much global attention and it is now enjoying a new boom in cultural exports that does not show any signs of slowing down anytime soon.