While Squid Game was captivating the world, a staggering 50 million K-pop albums were being sold globally in 2022, signaling just one facet of the unstoppable and lucrative rise of Korea's cultural juggernaut.
Key Takeaways
- In 2022, South Korea's music industry generated export revenues of 1.14 trillion KRW, marking a 34.0% increase from the previous year
- K-pop albums accounted for 85.2% of total music exports in 2022, with physical album sales reaching over 50 million units globally
- BTS contributed 45% of South Korea's total music exports in 2021, equating to 545.5 billion KRW
- In 2022, Parasite won 4 Academy Awards, becoming the first non-English film to win Best Picture
- Squid Game season 1 garnered 1.65 billion viewing hours on Netflix in first 28 days
- Train to Busan grossed USD 98.5 million worldwide on USD 8.5 million budget in 2016
- In 2022, Korean dramas exported for USD 300 million, up 20%
- Squid Game season 1 watched by 142 million member households on Netflix
- Crash Landing on You topped Netflix non-English charts in 90 countries
- In 2022, Korean game industry revenue reached 24.8 trillion KRW, up 8.5%
- PUBG Mobile generated USD 9 billion lifetime revenue by 2023
- Lineage M earned 2.5 trillion KRW in Korea in 2022
- In 2022, Webtoon global users reached 170 million monthly
- Naver Webtoon revenue hit 1 trillion KRW in 2022, up 40%
- Kakao Webtoon IP adaptations generated 500 billion KRW in 2022
Korea's music, film, drama, and gaming industries are booming global exports.
Drama
- In 2022, Korean dramas exported for USD 300 million, up 20%
- Squid Game season 1 watched by 142 million member households on Netflix
- Crash Landing on You topped Netflix non-English charts in 90 countries
- The Glory achieved 622.8 million viewing hours in first week 2023
- Vincenzo streamed 307 million hours globally on Netflix 2021
- Itaewon Class exported to 170 countries, generating 15 billion KRW
- Alchemy of Souls topped Netflix charts in 40 countries for 8 weeks
- Korean drama exports to Japan reached 100 billion KRW in 2022
- Extraordinary Attorney Woo viewed 100 million hours on Netflix 2022
- Our Blues achieved highest domestic ratings 21.6% in 2022
- Reborn Rich broke JTBC ratings record at 26.9% nationwide 2022
- Twinkling Watermelon topped global non-English TV charts 2023
- Weak Hero Class 1 garnered 91 million hours on Netflix 2022
- Korean dramas on Netflix accounted for 10% of top 10 non-English shows in 2023
- Queen of Tears achieved 1 billion viewing hours cumulative in 2024
- Hometown Cha-Cha-Cha exported for USD 2 million to multiple platforms 2021
- My Liberation Notes rated highest quality drama by public poll 2022
- Business Proposal streamed 300 million hours on Netflix 2022
- Lovely Runner topped charts in 100+ countries on multiple platforms 2024
- Hospital Playlist season 2 averaged 12.5% ratings 2021
- Kill Boksoon action drama viewed 138 million hours week 1 on Netflix 2023
- The Uncanny Counter season 2 topped Netflix Korea charts 2023
- Mask Girl debuted at #1 non-English TV on Netflix 2023
- Daily Dose of Sunshine ranked top 10 in 50 countries 2023
Drama Interpretation
The astonishing global success of Korean dramas, from the savage playgrounds of "Squid Game" to the nuanced healing of "My Liberation Notes," proves that whether you're seeking cathartic revenge or a cha-cha-cha romance, the world is happily paying in both billions of won and billions of hours to feel all the feels Korea is serving.
Film
- In 2022, Parasite won 4 Academy Awards, becoming the first non-English film to win Best Picture
- Squid Game season 1 garnered 1.65 billion viewing hours on Netflix in first 28 days
- Train to Busan grossed USD 98.5 million worldwide on USD 8.5 million budget in 2016
- The Korean film industry export value reached 124.4 billion KRW in 2022, up 15.2% YoY
- Decision to Leave by Park Chan-wook won Best Director at Cannes 2022
- Kingdom: Ashin of the North achieved 98 million hours viewed on Netflix in 2021
- Burning (2018) screened at 48 international film festivals
- Korean films' domestic box office hit 8.7 trillion KRW in 2022
- Broker by Hirokazu Kore-eda with Korean cast won Grand Prix at Cannes 2022
- The Roundup (2022) sold 12.9 million tickets domestically
- Oldboy (2003) ranked in BBC's 100 greatest films of 21st century
- Korean film exports to China surged 50% to 20 billion KRW in 2022
- Hunt (2022) premiered at Cannes Un Certain Regard
- The 8 Show on Netflix topped global non-English TV charts for 2 weeks in 2024
- Snowpiercer film grossed USD 30 million overseas
- Korean horror film Gonjiam: Haunted Asylum earned USD 58 million on USD 1.5M budget
- Minari won 3 Oscars including Best Supporting Actress 2021
- Korean film industry's contribution to GDP was 0.5% in 2022
- Emergency Declaration (2022) distributed to 120 countries
- The Medium (2021) set Netflix Korea viewership record pre-Squid Game
- Return to Seoul premiered at Cannes Directors' Fortnight 2022
- Korean films at Busan International Film Festival 2023 numbered 150+
- #Alive zombie film viewed 98.2 million hours on Netflix 2020
- The Host (2006) grossed USD 27 million internationally
- Korean cinema screen count reached 2,200 in 2022
- Peninsula (Train to Busan sequel) earned USD 14 million in Japan alone
Film Interpretation
Korea’s cultural industry has executed a masterful global heist, robbing the world of its cinematic indifference one Oscar, viral series, and box office smash at a time, all while turning a staggering profit.
Games
- In 2022, Korean game industry revenue reached 24.8 trillion KRW, up 8.5%
- PUBG Mobile generated USD 9 billion lifetime revenue by 2023
- Lineage M earned 2.5 trillion KRW in Korea in 2022
- Korean PC bang market size was 5 trillion KRW in 2022
- Lost Ark surpassed 20 million global players within a month of launch 2022
- MapleStory universe revenue hit 1 trillion KRW cumulative 2023
- Esports market in Korea valued at 1.5 trillion KRW in 2022
- League of Legends Worlds 2022 in Korea had 6.8 million peak viewers
- Korean mobile games exported USD 5.2 billion in 2022
- Black Desert Mobile earned USD 1 billion globally by 2023
- Summoners War generated 3 trillion KRW since 2014
- Korean game developers numbered 1,200 firms in 2022
- FIFA Online 4 PC bang revenue leader with 500 billion KRW 2022
- NCsoft revenue from Throne and Liberty launch hit 500 billion KRW in Q4 2023
- Korean VR/AR game market grew 25% to 500 billion KRW in 2022
- T1 esports team won LCK 10 times by 2023
- Cookie Run: Kingdom surpassed 50 million downloads globally 2023
- Korean cloud gaming users reached 10 million in 2022
- Ragnarok Origin topped App Store charts in 20 countries 2023
- Game exports to North America USD 1.8 billion in 2022
- Krafton (PUBG) market cap exceeded 20 trillion KRW 2023
- Netmarble's global revenue USD 2.5 billion in 2022
- Webzen's MU Origin 3 hit 100 million downloads 2023
- Smilegate's Epic Seven earned USD 800 million lifetime 2023
- Korean metaverse game projects numbered 200+ in 2022
Games Interpretation
It’s safe to say South Korea has officially conquered our screens, one PC bang, mobile download, and esports championship at a time.
Music
- In 2022, South Korea's music industry generated export revenues of 1.14 trillion KRW, marking a 34.0% increase from the previous year
- K-pop albums accounted for 85.2% of total music exports in 2022, with physical album sales reaching over 50 million units globally
- BTS contributed 45% of South Korea's total music exports in 2021, equating to 545.5 billion KRW
- The global K-pop market size was valued at USD 9.5 billion in 2023, projected to grow to USD 18.6 billion by 2030 at a CAGR of 10.2%
- South Korea's music content exports grew by 260.3% from 2017 to 2022, reaching 1.14 trillion KRW
- Streaming revenues from K-pop on platforms like Spotify reached 400 billion KRW in 2022
- BLACKPINK's album 'Born Pink' sold 2.2 million copies worldwide in its first week in 2022
- K-pop concerts generated 450 billion KRW in overseas revenue in 2022, up 60% YoY
- The number of K-pop artists with over 10 million monthly Spotify listeners reached 15 in 2023
- South Korea ranked 1st in physical music album exports globally in 2022 with 12.8% market share
- K-pop merchandise exports hit 150 billion KRW in 2022
- Twice's world tour in 2023 grossed over USD 100 million from 1.2 million attendees
- Domestic music market size in Korea was 1.8 trillion KRW in 2022, with digital music at 70%
- K-pop's share in global music streaming was 2.5% in 2023
- NewJeans debuted with 1.5 billion Spotify streams in first 6 months of 2023
- K-pop export to Japan was 450 billion KRW in 2022, 40% of total music exports
- Stray Kids' album '5-STAR' sold 3 million copies in 2023
- Global K-pop fanbase estimated at 150 million in 2023
- Music publishing royalties for Korean composers reached 100 billion KRW overseas in 2022
- SEVENTEEN's concert revenue exceeded 200 billion KRW in 2023 from Asia tour
- K-pop vinyl sales surged 300% YoY to 500,000 units in 2022
- Aespa's 'Savage' achieved 1 billion YouTube views in 10 months in 2021
- Domestic K-pop market revenue was 800 billion KRW from performances in 2022
- IVE's 'ELEVEN' topped global charts in 50 countries
- K-pop agencies' stock market cap reached 50 trillion KRW in 2023
- ENHYPEN's Japan debut album sold 300,000 in first day 2023
- K-pop's economic ripple effect was 5 trillion KRW in 2022
- LE SSERAFIM generated 100 billion KRW revenue in debut year 2022
- Global K-pop playlist listeners on Spotify hit 1 billion monthly in 2023
- NCT's revenue from albums exceeded 1 trillion KRW cumulative by 2023
Music Interpretation
While some may call it pop music, the sheer scale of these figures proves that South Korea's K-pop industry is a cultural export juggernaut, single-handedly rewriting global music economics with albums, streams, and concerts that generate billions and command a fanbase rivaling the population of most nations.
Publishing
- In 2022, Webtoon global users reached 170 million monthly
- Naver Webtoon revenue hit 1 trillion KRW in 2022, up 40%
- Kakao Webtoon IP adaptations generated 500 billion KRW in 2022
- Korean webtoons exported to 100+ countries, USD 200 million revenue 2022
- True Beauty webtoon had 200 million views globally by 2022
- Solo Leveling manhwa sold 10 million copies worldwide 2023
- Webtoon English service users 85 million MAU in 2023
- Tower of God anime adaptation streamed 100 million views on Crunchyroll 2020
- Korean manhwa publishing market 1.2 trillion KRW in 2022
- Noblesse webtoon IP film grossed USD 10 million 2021
- Viral Hit (How to Fight) topped global webtoon charts 2023
- Lezhin Comics premium users 5 million globally 2022
- Omniscient Reader's Viewpoint novel sold 1 million copies 2022
- Webtoon America's revenue USD 500 million annualized 2023
- Lookism webtoon episodes exceeded 450 with 100M+ views 2023
- Korean e-book market size 800 billion KRW in 2022
- The Breaker manhwa series cumulative 20 million readers 2023
- Tappytoon platform reached 10 million downloads 2023
- God of High School webtoon led to anime with 10 million manga sales 2022
- Korean light novel exports USD 50 million 2022
- Unordinary webtoon by Korean creator 300+ episodes 4M subscribers 2023
- Ridibooks e-book platform 15 million users 2023
- Eleceed webtoon topped Naver charts 100 weeks 2023
- Korean comic exports to US USD 100 million 2022
Publishing Interpretation
Korean webtoons have not only masterfully escaped the confines of the smartphone screen to conquer global entertainment, but they’ve also built a billion-dollar economy out of our collective desire to tap "Next Episode" in the middle of the night.
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