The Global Surge of K-pop and Its Cultural Impact
South Korea’s latest animated export, K-pop Demon Hunters, has taken the world by storm. Since its June release on Netflix, the film has topped the platform’s global movie rankings. Its soundtrack has proven equally potent: “Golden,” a song from the original score, topped Spotify’s U.S. daily chart and Billboard’s global list. This success is just one sign of K-pop’s surging global presence.
Blackpink’s latest single, “Jump,” released on July 11, shot to number one on Spotify’s global chart within two days. Their back-to-back concerts at LA’s SoFi Stadium attracted 100,000 fans and set a record for Korean acts in North America. Meanwhile, IVE, another girl group, electrified the stage at Berlin’s Lollapalooza festival. And BTS—previously on hiatus to fulfill military duties—hinted at a 2026 comeback during a surprise livestream on July 1 that drew over 7.3 million real-time views.
Once seen as a passing trend, K-pop is entering a golden era. In Southeast Asia and Latin America, teens mimic idol dance routines. American children sing along in Korean. In Paris and Beijing, BTS birthday tributes beam from LED billboards. In Seoul, foreign tourists trace scenes from K-pop Demon Hunters around Namsan and Jongno. As The New York Times puts it: “South Korean culture is having a moment. Again.”
Beyond Music: Economic Returns and Global Influence
That soft power now yields hard economic returns. In 2023, Korea’s music exports reached $1.22 billion—more than four times the figure from a decade earlier. Analysts expect that number to surpass 2 trillion won ($1.5 billion) this year—on par with selling 25,000 Genesis G80 luxury sedans.
The concert and fan event industry is ballooning. Allied Market Research projects that the global K-pop events market, valued at $8.1 billion in 2021, will reach $20 billion by 2031, growing at 7.3% annually. The superstar group BTS alone has generated the kind of economic impact more commonly associated with conglomerates. According to the Hyundai Research Institute, BTS’s activities created an annual average of 4.14 trillion won in domestic economic output between 2013 and 2017, the equivalent of 26 mid-sized firms. Add their value-added contributions and the total yearly impact exceeds 5.56 trillion won. Their influence is only likely to grow post-hiatus.
“The return of the most influential K-pop idols will help create another wave of Korea’s soft power,” said Jeong Kwang-woo, a former fund manager. “It will have a positive impact on exports of the country’s other consumer-facing industries.”
Expanding Cultural Reach and Fandom Economy
That soft power is increasingly diffuse. K-pop Demon Hunters, which portrays a girl group fighting evil spirits through music, is a prime example. Beyond streaming charts, it’s boosting demand for Korean food, tourism, and cultural goods. DS Investment analyst Jung Ji-hye notes that the film’s portrayal of Korean customs—food, shamanic beliefs, senior-junior dynamics—has resonated globally. Virtual idol groups within the film are gaining their own fandoms, potentially fueling Korea’s nascent virtual entertainment sector.
At the core of K-pop’s ascent is its fandom. What began in the early 1990s with groups like Seo Taiji and Boys has matured into a globally networked, digitally empowered force. Sam Richards, a sociologist at Penn State, argues that K-pop fandoms were uniquely positioned to capitalize on the rise of social media, turning casual listeners into evangelists—studying Korean, buying products, and making pilgrimages to Seoul.
Today, K-pop’s global fanbase exceeds Korea’s population. According to the Korea Foundation, the number of Hallyu (Korean Wave) fans rose from 9.26 million in 2012 to 225 million in 2023. Over 75 million identify as K-pop fans. “These are not passive consumers,” says Jenna Gibson of the Korea Economic Institute of America. “They actively consume Korean cosmetics, fashion, and tourism.” The result is a wider ecosystem of consumption than what is seen around Western pop stars.
Brand Korea and Commercial Clout
This cultural appeal translates into commercial clout. Yayu Yuan, a researcher at Korea University, found that U.S. states with higher K-pop interest—measured by online searches—saw stronger sales of Korean cars. That “country-of-origin” effect extends to beauty products. Last year, South Korea overtook France to become the top exporter of cosmetics to the United States, with $1.71 billion in exports, according to the U.S. International Trade Commission.
The Export-Import Bank of Korea estimates that a $100 million rise in K-pop exports boosts sales of consumer goods by $2.2 billion, cosmetics by $240 million, and electronics by $1.9 billion. Cultural content, in other words, is now a leading driver of Korea’s broader industrial exports.
Intellectual Property and Transmedia Ecosystems
K-pop’s economic value increasingly lies not just in songs, but in intellectual property. Companies are building “super IPs”—narrative-based franchises that extend into webtoons, games, dramas, and merchandise. HYBE, the agency behind BTS and Enhypen, developed a popular webtoon, Dark Moon: The Blood Altar, which has amassed 200 million global views. Its BTS-themed mobile game, BTS World, released in 14 languages, has reached 16 million downloads.
Just as Marvel turned superheroes into a cinematic empire, Korea’s entertainment firms are building transmedia ecosystems anchored by idol lore.
Lessons from the K-pop Tsunami
Experts compare the K-pop phenomenon to “Swiftonomics,” the economic boom triggered by Taylor Swift’s Eras Tour, which added billions to local economies through tickets, merchandise, hotels, and transit. K-pop, they argue, demands similar infrastructure investment.
Kim Yoon-ji of the Export-Import Bank of Korea’s economic research institute says, “K-pop Demon Hunters presents a bundle of Korean cultural experiences—music, food, landmarks—all in one package. This consumer pull justifies dedicated K-pop arenas and tourism clusters.”
K-pop’s distinct appeal, built on diversity and hybrid identity, is also a strategic asset. Blackpink’s Thai member Lisa, and multicultural girl groups like Hearts2Hearts, bring emotional proximity to foreign fans. Maintaining that globalized positioning is key, says Noma Hideki, former professor at Tokyo University of Foreign Studies.
Sam Richards, the sociologist, puts it succinctly: “K-pop isn’t just a wave. It’s a tsunami. And just like a tsunami, you often don’t know it’s coming until it’s everywhere.” Korea’s task now is to anchor this momentum in broader national branding—and ride the surge, he said.