Hallyu or the Korean wave has been a blessing for Korea, its businesses, culture and country image. For almost six years since early 1999, Hallyu has become one of the biggest cultural phenomena across Asia Pacific. So tremendous has the Hallyu effect been that it has contributed 0.2% of Korea's GDP in 2004, amounting to approximately USD 2 billion. Hallyu is a term coined by the Chinese media which literally means "Korean Wave". It is a collective term used to refer to the phenomenal growth of Korean popular culture encompassing everything from music, movies, drama to online games and the Korean cuisine.
Strong brands are fuelled by popular culture and issues related to society, so the Korean Wave is one of the key drivers of many Korean brands on the rapid rise. Hallyu is also helping to build and sustain awareness of Korea and bolster the country's image - a factor which is crucial for all strong brands.
