South Korea is seeking to reopen the Chinese market through the power of Hallyu. South Korea’s ambassador to China, No Jae-hyun, said in Beijing that Seoul and Beijing have reached a consensus on expanding cultural exchanges, and he speculated that such exchanges could see “a full recovery” by 2027, marking the 35th anniversary of diplomatic ties. On the surface, this discussion centers on culture—but beneath lies South Korea’s growing urgency.
For today’s South Korea, the cultural industry has long been a pillar of exports. In 2024, the country’s content exports amounted to approximately $14 billion, including around $8.5 billion in games, $1.8 billion in music, and $1.25 billion in broadcast programming. China was once one of the most lucrative markets for Hallyu. For instance, in 2022, South Korean game exports to China approached $2.7 billion—accounting for nearly one-third of total gaming exports. Beyond that, there existed a broader “Hallyu economic chain” encompassing K-dramas, idol concerts, endorsements, cosmetics, tourism, and e-commerce.
What South Korea misses is not merely cultural exchange—but the tangible revenue from the Chinese market. The export of cultural content can also bolster national branding and stimulate related consumption, a calculation South Korea has made clearly. Hence, Ambassador No’s repeated references to “thawing,” “restoration,” and “common platforms” ultimately reflect a desire for China to ease restrictions on Korean films, performances, and video games.
Yet the reality is that China has never officially acknowledged a so-called “ban on South Korea.” The tightening of market access has largely been driven by private-sector decisions rather than formal policy. As such, there is no foreseeable moment when China will formally announce a “lifting” of restrictions. South Korea’s premature announcement of 2027 suggests it is more eager than Beijing.
More crucially, today’s Chinese market is vastly different from what it was a decade ago. Domestic production of online dramas, variety shows, short videos, games, animation, and micro-series now exceeds massive scale, offering audiences an abundance of choices. Even if Korean content were to re-enter, it would be unlikely to reclaim the dominance seen during the peak Hallyu era. Future revival, if any, would likely involve new configurations of platforms, capital, intellectual property, and production capabilities—not simply an open door for Hallyu.
Thus, whether to open the door, how wide, and at what pace—all these remain subject to factors beyond South Korea’s control. While South Korea’s pursuit of profit is understandable, the ultimate question lies with Chinese consumers: Do they still want this product?
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Original source: toutiao.com/article/1877816033627207/
Disclaimer: This article reflects the personal views of the author.