Korean Wave impacts overseas product sales: poll

The popularity of Korean pop culture is exerting a positive influence on overseas sales of locally made products, a poll conducted by an international traders association showed Sunday.

The Korea International Trade Association said a survey conducted on 1,173 people from Japan, China, Taiwan and Vietnam, revealed that 80 percent of the respondents said that the Korean wave has affected their buying of South Korean goods.

The Korean wave, also known as “Hallyu,” refers to the popularity of South Korean TV dramas, movies, pop songs and fashion in foreign countries. Initially, Korean pop culture’s popularity was restricted to Asian countries, but it has since spread to Europe, North and Latin America.

KITA added that three out of four foreign consumers said they bought Korean products after they were exposed to Hallyu.

“Of those that bought products, 23.5 percent and 22.5 percent purchased locally made processed food and cosmetics, with numbers for clothing and fashion accessories reaching 17.0 percent and 9.9 percent each,” the association said.

The organization representing trading companies said that the latest findings show Hallyu can be used to promote export growth.

“By gauging the level of popularity in each country, local companies can make better use of Korean cultural contents to enter and expand their existing market presence,” it said.

It pointed out that popular cultural contents can be harnessed to sell more processed food in Japan, cosmetics in China, and fashion items and clothing in Vietnam and Taiwan.

KITA, in addition, said that local manufacturers should consider more Internet based business-to-consumer transactions to boost sales, while making more use of social networking services and video-sharing websites such as YouTube to promote their products.

On pricing for products, the association said that it would be best if local products targeted the premium market since Hallyu has bolstered South Korea’s overall image abroad.

“In order to get more for products, emphasis must be placed on quality, design and other non-price related factors,” KITA said. 

(Yonhap News)