Economic Ripple Effect Of Korean Wave(Hanryu)

Starting from 1990’s singers entering China, the Korean Wave fever is accelerating since 2000. For this reason, Korean drama, k-pop music, movies, fashion, cosmetics, hair style and food are catching huge popularity in China. Moreover, the interest in Korea’s overall culture is increasing. China is experiencing a surprising growth after the open-door policy, and Korea’s large enterprises as well as many companies from foreign countries are increasing tremendous sales by entering China’s huge market. Chinese women started to spend money for themselves as they enter the workforce and experience higher social status and stronger economic power. For these reasons the cosmetics industry in China is continually developing and increasing its size. 83% of Chinese women have used Korean cosmetics and have high interest in Korean cosmetics, with the help of Korean cosmetics firms which entered China early through the Korean Wave. The purpose of this study is to examine the economic impact of the Korean Wave to Chinese consumers. The study conducted a survey on preference for Korean drama, k-pop music, favorability of the Korean Wave, product familiarity and country image with Shanghai women in their 20s who have used Korean cosmetics. The study investigates if the cultural phenomenon of the Korean Wave influences the economic activity of purchasing products.