Euromonitor published a report about South Koreas success in marketing. South Korea is a small country compared to the US or China, but despite its size, the country is considered an innovator in international brand development.
The achievement of South Korean products at a world level is attributed to effective marketing campaigns and strategies, as well as product positioning. In fact, South Korea has been so successful with product launches that there is even a term coined for it: the so-called Korean Wave, or Hallyu, literally meaning the “flow of Korea”. The overall consumption is very much influenced by popular actors and singers endorsing the products. As the actors and singers become popular overseas, so do the products that they endorse. This in turn raises awareness about Korea and the local culture.
A key driver of Hallyu is the governments funding and support of its entertainment industry, most notably across music, movies and television. It has been exported to different markets, first to Asia and then globally.
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Length of the part 11.46