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BTS expands Korean Wave Industries

Effects of BTS and K-Contents in Hallyu industries based
on 2019 KOFICE Report

The scale of Hallyu exports is expanding in the wake of K-pop sensations such as BTS.
According to the "2019 STUDY ON RIPPLE EFECTS OF HALLYU" released by the Korean Foundation for
International Cultural Exchange (KOFICE) on the 8th of April 2020, the total exports caused by the Korean
Wave in 2019 were estimated to be $12.32 billion, up 22.4% from the last year (2018). The total amount
of Hallyu exports has been steadily increasing every year from $7.56 billion in 2016, $9.79 billion in 2017,
and $10.06 billion in 2018.

In 2019, exports of cultural content products surged up 19.2% year-on-year to $6.38 billion, driving overall
Hallyu exports. On the other hand, exports of consumer goods and tourism exports was $5.93 billion, also
up 26.1% from the last year (2018).

In terms of exports by individual industries, games accounted for the largest amount of $4.71 billion in the