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Growth Korea K-Pop Stars Big Impact on Korea’s Economy

By Staff Writer | February 26, 2012 05:39 PM EST

K-Pop Korea Economy
K-Pop Korea Economy (Photo : .)

The Top 40 ‘Power Celebrities’ ranking released by Forbes Korea means a lot to readers.

Forbes well known for its lists established in 1917. The Forbes 400 is an annual list that ranks the country’s richest Americans by their estimated net worth. Other lists include ‘400 Best Big Companies,’ ‘100 Best Mid-Cap Stocks,’ and ‘Americas Best Colleges.’

Then there is ‘The Celebrity 100’ an annual list of 100 most powerful people in the entertainment business. Forbes Korea has selected 40 out of 100 people based on income, influence, fame and expertise. The top 20 consisted of 10 idol groups. There were only 4 that were on the list last year. This is a reflection on the growth of K-Pop, especially the idol groups. They are influencing the economy and brand image of Korea and other countries culture and economy as well.

The Samsung Economic Research Institute released that the brand image of products ‘Made in Korea’ have increased 2.7 higher than 7 years ago. Korean government stated a 2000% increase of export in beverages to the Middle East, 303% of smart phones, 127% in automobile, 190% VTR, 90% clothing, and 32% refrigerator to South America.

Korea Foundation for International Culture Exchange ranked Korea 15 that is 3 ranks higher than last year, Korea has been recognized for its attractiveness and refined culture.

This is all the same on the streets. In the street side of Shibuya station, the largest transfer, there is a poster of ‘Girls’ Generation’s entire body. It’s not uncommon to see Korea girl group’s music video being displayed on outside monitors.

The Koreans who are stepping outside to the world market is merely doing more than promoting their own music.

Tagged :  K-Pop, forbes korea

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