Group 4 - How significant is kpop to SK's GDP?

Question 1

What is South Korea’s GDP driven by?

Answer 1

+ It’s GDP is 1.72 trillion and it’s driven by the:

• Service (63.8%)
• Manufacturing (26.5%)
• Agriculture (2%)
• Trade is 88% of Sk’s GDP as its export0dependant on countries such as China, US and Vietnam

Question 2

How is the government supporting South Korea’s trade?

Answer 2

+ Inputing export-orientated policies to help these indsutries grow such as the K-pop indsutry

Question 3

What happened after the financial crisis?

Answer 3

+ South Korea removed the censorship on english lyrics allowing korean artists to tap into western culture and create the phenomnenon of k-pop which was appealing to fans across the world

Question 4

WHo are the big 4?

Answer 4

+ Jyp
+ SM
+ HYBE
+ YG

Question 5

What are the direct revenue models?

Answer 5

+ Concerts
+ Physical albums
+ advertisments

Question 6

Indirect models?

Answer 6

+ Merchandising
+ licnsing
+ content creation

Question 7

How did k-pop contribute to SK’s economy?

Answer 7

+ Job creation
+ cultural influence
+ Increased the money coming in in export-orientated indsutry

Question 8

WHat is hallyu?

Answer 8

+ Hallyu is the cultural affect of south korean culture