November 26, 2022

Exports of South Korea’s content material trade rose 16.3 p.c on-year in 2020 on the again of the worldwide recognition of Korean popular culture, regardless of the coronavirus pandemic, authorities knowledge confirmed Monday.

The trade’s outbound shipments stood at US$11.9 billion in 2020, in contrast with $10.25 billion a yr earlier, based on the information from the Ministry of Tradition, Sports activities and Tourism.

The ministry mentioned the achievement is exceptional contemplating that the nation’s complete exports decreased 5.5 p.c on-year in 2020.

“Hallyu,” or the Korean Wave, has pushed up exports of Korean content material through world platforms.

Exports of the publishing sector grew probably the most with 61.1 p.c, whereas these of movies rose 43 p.c and cartoons 36.3 p.c. The broadcasting sector and gaming trade noticed 28.5 p.c and 23.1 p.c will increase, respectively.

Nonetheless, gaming accounted for the largest a part of the exports within the content material trade with $8.19 billion, adopted by characters ($715.8 million), broadcasting ($692.79 million), information data ($691.99 million) and music ($679.63 million).

Gross sales of the content material trade reached 128.29 trillion received ($107.48 billion) in 2020, up 1.2 p.c from 126.71 trillion received in 2019.

Gross sales of video games and cartoons, largely circulated in digital codecs, rose sharply by 21.3 p.c and 14.7 p.c, respectively, in 2020 as COVID-19 curbs pushed up demand for on-line cultural content material. However, gross sales within the movie, animation and music sectors declined by 53.6 p.c, 13.6 p.c and 11 p.c, respectively, as companies of most public services, akin to film theaters and performing arts halls, have been restricted because of the virus curbs.

See also  Star-studded Korean rom-com to hit theaters in Christmas season

Broadcasting accounted for the most important share of the content material trade gross sales with 21.96 trillion received, adopted by publishing (21.65 trillion received), information data (19.37 trillion received), video games (18.89 trillion received), and promoting (17.42 trillion received).

The variety of companies within the content material trade was 99,551, with a complete of 642,086 employees in 2020, down 4.4 p.c and 5.9 p.c from a yr in the past.

As in-person operations of such services as film theaters and performing arts halls have been restricted attributable to COVID-19, the numbers of companies and employees within the movie and music sectors decreased considerably.