Week 11: Soft power

Kpop is exerting its influence over US customers with soft power. Kpop will bring positive economic effect, not on its own selling but also because of its influence on other parts of industries.

Selling culture is the key to 21st century economy as former president Kim Dae-jung predicted.

To compare manufacturing and multimedia industry, the latter is superior in terms of operating profit. For instance, the revenue of Samsung electronics in the first quarter of 2015 was 44 million dollars, with the operating profit of 5.63 million dollars. Compared to this, the total operating profit of YG entertainment in 2009 was 7.39 billion dollars, with the total sales of 39.69 billion dollars.

Korean boy bands not only promote good images of South Korea as a country. They also sell the image of South Korean-made-brands.

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