Trade Surplus in Hallyu Media Content on the Rise
Write: 2018-10-13 13:49:45 / Update: 2018-10-13 13:56:00
South Korea is reporting an increased surplus in trade related to the Korean Wave or Hallyu phenomenon, which refers to the popularity of Korean pop culture.
A number of factors are believed to be behind the rise including the globally popular K-pop boy band BTS and eased retaliation from China over Seoul's deployment of a U.S. missile defense system.
The Bank of Korea said Saturday that the trade surplus in the media content sector grew to a 16-month high in August.
Korea logged a surplus of 42-point-seven million dollars in sound and image services in August, the highest since April last year.
The latest increase is attributed to recovering exports of Hallyu contents to China and profit from K-pop artists such as BTS.
The trade balance in this segment refers to the volume of export and import of media content such as TV programs, movies and music.