[The Editors' Verdict] Content Industry Must Restructure for the Post-Pandemic Era

Professor Byungmin Lee, Department of Cultural Contents, Konkuk University

The seemingly endless COVID-19 situation has somewhat stabilized, ushering in the full-fledged post-pandemic era. The large-scale pandemic provided an opportunity to reevaluate life’s values, culture, and priorities. It accelerated the shift toward an untact environment, lifestyle changes, and a culture-based post-materialistic life that values quality of life. Ronald Inglehart’s “Silent Revolution,” which discussed changes in quality of life and values in the 1970s, is accelerating with the changing times. In Korea as well, a silent revolution is underway that prioritizes individual happiness and values in life, such as the economy of preferences, work-life balance (Work-Life Balance), and small but certain happiness (So-hwak-haeng).

Experts, based on the Sustainable Development Goals (SDGs), foresee the current “With COVID” era caused by the COVID-19 crisis, the stabilizing “Post-COVID” era, and the “Beyond COVID” era after the pandemic. Renowned scholar Zakaria predicted that in the post-pandemic era, individual values and priorities will change significantly based on past experiences. Due to deepening polarization, enhancement of qualitative values, the advent of digital environments, and accelerated globalization, situations different from before will emerge. From a global economic perspective, as the power of content strengthens, it suggests that the somewhat marginalized “local (East Asian)” culture in the existing mainstream economy will expand. As Baekbeom Kim Gu said, the power of culture gives us the opportunity to make ourselves happy and, furthermore, to bring happiness to others. Statistics show that when K-content exports reach 100 million dollars, consumer goods exports increase by 180 million dollars, production inducement effects reach 510 million dollars, and employment inducement effects amount to 2,892 jobs. Culture influences the economy, and a new framework of value-based economy is emerging as mainstream.

UNESCO has emphasized the role of culture in implementing sustainable development policies and announced indicators and “Culture 2030” that highlight various roles culture plays in social, economic, and environmental policy processes. A new value-approach-based innovation model grounded in environment and resilience, prosperity and living, knowledge and technology, inclusion and participation is being discussed. In the future, citizens’ rights to enjoy cultural life, participation, and quality of life will be closely linked to content and recognized as increasingly important. In the context of the post-pandemic era and the Fourth Industrial Revolution, it seems urgent to establish a value-based industrial ecosystem, networks, and governance suitable for the context, and to devise ways to enhance connections across markets, government, society, and culture. In recent expert meetings, keywords that emerged as future visions included ESG (environment, social, governance), digital environment, emotion, inclusiveness, alignment with the general public, convergence and innovation, and culture (resilience).

Consulting firms like Deloitte offer similar forecasts, highlighting the importance of home economy, value-centered consumption, and the expansion of non-face-to-face economy and industries. With people accustomed to working from home, redefining the concepts of company and job and flexible coping strategies will become increasingly important, especially in the content industry. Rather than mere survival, the post-pandemic era should be used as an opportunity for leapfrogging, and to lead trends, it is necessary to establish strategies and prepare based on the value of culture.

Byungmin Lee, Professor, Department of Cultural Contents, Konkuk University