TitleFrom Music to Food and Beauty… Expanding Economic Ripple Effects of Hallyu2025-10-02 03:38
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From Music to Food and Beauty… Expanding Economic Ripple Effects of Hallyu


     One may ask whether the benefits Hallyu brings to the Korean economy are sustainable, or whether it has already peaked and will face a downturn. However, the fact that the so-called “Peak Hallyu” debate has recurred periodically over the years suggests the answer: Hallyu’s success is not a temporary phenomenon but a long-term trend. Hallyu has already become mainstream. The pandemic served as an opportunity for K-dramas and Korean culture as a whole to gain wider global recognition and firmly establish themselves in the mainstream. As people spent more time at home, online streaming content consumption surged explosively. Added to this were decisive events that cemented Korea’s status as a cultural powerhouse: the Academy Award for the film Parasite, the record-breaking global viewership of Squid Game, and Han Kang’s Nobel Prize in Literature. These events generated enormous profits across derivative industries.

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     In virtually every European city, one can find a Korean restaurant. From eateries specializing in specific menus such as street food or “chimaek” (chicken and beer) to supermarkets and Asian grocery stores, Korean food is widely available. Restaurants abroad are incorporating Korean ingredients and menus, while large supermarket chains are also selling Korean products. Renowned Spanish chef Dabiz Muñoz, selected for three consecutive years as the world’s best chef, actively uses kimchi in both his main dishes and desserts.

     Similarly, K-beauty specialty stores and shops selling Korean cosmetics have firmly taken root in cities across Europe. In the middle of streets lined with Spanish and Latin American restaurants, traditional bars, and European and Latin American grocery shops, Korean cosmetic stores have appeared. A shop assistant commented, “Customers of all ages mostly learn about Korean products and beauty routines through Korean TV programs and online searches.”

     It is no surprise, then, that Korea’s Ministry of Food and Drug Safety announced that K-beauty exports in 2024 reached a record high of USD 10.2 billion (about KRW 14.195 trillion). This achievement symbolizes the broader economic benefits that Hallyu, having established itself in the mainstream, continues to generate across the Korean economy(Chosun Ilbo, August 18, 2025).