[The Editors' Verdict] K-Culture Is Booming, but Are Its Roots Healthy?

The newly opened 'Dongnam Sageori Gisa Sikdang' in the Lower East Side, sought after by MZ generations worldwide rather than just New York Koreatown, is so popular that you cannot get in without waiting in line for two hours. This gisa sikdang has everything from the signboard to the menu written entirely in Hangul. The customers enjoying Korean food are not Koreans but local New Yorkers and foreigners of various nationalities.

The new song "Apartment," a collaboration between girl group BLACKPINK's Ros? and world-class pop star Bruno Mars, features the repetitive Korean lyrics "Apartment, Apartment, Apartment." The music video includes the Korean youth drinking game "Apartment Game," where hands are stacked layer by layer, and Bruno Mars enthusiastically waves the Taegeukgi flag. It surpassed 100 million views within five days of release.

On online video services (OTT) like Netflix, various genres of Korean movies and dramas are sailing smoothly with high ratings and viewer responses, following the successful opening of K-content with Squid Game. Even the literary field, which was the hardest to attract foreign interest among K-culture categories, has been reappraised as author Han Kang won the Nobel Prize. Han Kang’s Korean-language original novels, not just the translated versions, continue to sell out in overseas bookstores.

The world is immersing itself in the charm of K-culture. The expression that "national prestige has risen" due to the revival of K-culture is not an exaggeration. It has clearly proven that the driving force behind the rise in national prestige lies not only in economic growth but also in culture. Having confirmed the possibility of plants bearing flowers and fruits, it is now time to think about sustainability.

It is regrettable that the roots of K-culture are currently not in good condition. Unlike the warm reception of Korean food overseas, Korea’s food service industry is in crisis, with closures occurring one after another. The proportion of self-employed people in the food service industry has increased to the extent that 51.7% of those in their 20s and 41.5% of those in their 30s are engaged in food service, but currently, six out of ten self-employed people are classified as multiple debtors borrowing from three or more financial institutions.

The film and drama production and distribution market, which forms the foundation of K-content production, is also not doing well. In 2022, when K-content was booming, 141 Korean dramas were released through OTT platforms and domestic broadcasters, the highest ever, but this number shrank to 123 in 2023, and this year it is only about 100. There is also a diagnosis that about 100 completed films have yet to be released. Many production companies have seen profits decrease or have turned to deficits.

The publishing industry is also on the brink of collapse. Although bookstores experienced a brief boom due to the "Han Kang effect," the number of new domestic publications last year was 70.2 million copies, down 3.7% from the previous year and 25.4% compared to ten years ago. The operating profit of 71 publicly audited publishing companies last year decreased by 42% compared to 2022. Entertainment companies that nurture K-pop singers, including HYBE, are having no peaceful days due to various troubles such as management conflicts, drugs, and drunk driving.

It is necessary to check and supplement whether the global interest in K-culture is not just a fleeting curiosity but is taking root firmly to continue for 10 years and beyond. It is unfortunate that K-culture is not properly growing in Korea. There is a need for national-level support comparable to export industries, with the belief that K-culture can also grow as a foundation of the national economy. We look forward to the prosperous era of K-culture firmly rooted in Korea.