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Korean Dramas and Films: Key Factors for Their International Competitiveness

Abstract The Korean wave, which is the popularity of Korean entertainment outside Korea, is a fairly new phenomenon. Encompassing Korean dramas, films, and songs, it has been highlighted by international media outlets and scholars. Several prestigious newspapers and scholars attempted to explain the competitiveness of the Korean wave, but they have remained biased by missing, overemphasizing, or overlapping important success factors. To provide a more comprehensive and accurate analysis, this paper conducts a rigorous study on the competitiveness of Korean entertainment industry focused on Korean dramas and films with a comprehensive analytical tool, the generalized double diamond model. The results of this study provide evidences that the Korean wave is not a temporary phenomenon but a sustainable industry segment. For further enhancement of this important industry, this paper suggests useful implications, including international cooperation with other countries.

The effects of protection in cultural industries: the case of the Korean film policies

This paper assesses whether Korean film policies, particularly protectionist ones, have been instrumental in the success of the Korean film industry. The conclusion is, surprisingly at a first glance, that protectionist policies have played an insignificant role. First, the import quota regime (1956–1986) limited the number of films to be imported, but not the number of Korean audience to see these imported films. Furthermore, the import quota system strongly induced Korean filmmakers to produce bad quality movies and theaters to avoid showing Korean films. Second, the screen quota system, from 1966 until present, has not been effective because imposing a mandatory number of days for screening Korean movies does not ensure that the domestic audience will watch these movies. Finally, the subsidy policy was barely noticeable before the late 1990s and is now too late and too limited to be credited for any significant impact on the success of the Korean film industry which began from the early 1990s. The results of this paper are robust enough to suggest to policymakers in other countries to review their own policies that advocate merely protectionism as a way to make a more attractive national culture.

The Real Impact of Subsidies on the Film Industry (1970s–Present): Lessons from France and Korea

Many countries are becoming interested in developing their film industries as a way of promoting their national culture and increasing their soft power. With the continued global dominance of Hollywood films, policy makers are increasingly considering government subsidies as an essential tool in promoting their national film industries. However, the actual effectiveness of subsidies in promoting a film industry remains debatable. In order to better address this issue, this paper evaluates and compares the experiences of France and Korea. Both countries have adopted exactly the same sequence of instruments—import quotas, screen quotas, and then subsidies—yet have applied almost the opposite subsidy policies. Since the 1950s, France has intensively used subsidies while Korea has not. After more than a half century, these different subsidy policies have led to very different outcomes. This paper shows that a film industry without significant government subsidies can prosper better in the long term than a heavily subsidized one. This is an important lesson for countries that want to develop their film industry and to promote their culture by designing effective film policies.

Evaluating the Effects of Protectionism on the Film Industry: A Case Study Analysis of Korea

This chapter assesses whether Korean film policies have been instrumental for the success of the Korean film industry. The major finding of this analysis is that protectionist policies in the film industry have played an insignificant role. First, the import quota regime did not limit the size of the Korean audiences that watched foreign films, but rather strongly induced Korean filmmakers to produce poor quality movies. Second, the screen quota system has not ensured that the domestic audience will watch these movies. Finally, the subsidy policy was barely noticeable before the late 1990s and is now too late and too small to be credited for any significant impact on the success of the Korean film industry which began from the early 1990s. The results of this chapter suggest that business activities under market-friendly conditions are the key factor toward enhancing competitiveness of the film industry. Furthermore, it recommends that policymakers in other countries review their own policies that advocate protectionism as a way to make their film industry more competitive and attractive.

Why has Japan’s economy been staggering? A competitiveness perspective

Once one of the most prominent economies in the world, Japan is currently suffering from economic stagnancy. To revitalize the economy effectively, the core problems of Japan and its economy need to be first identified. This paper aims to understand accurately what the fundamental reasons are for Japan’s current economic stagnancy.,The generalized double diamond model, which is an extension of Porter’s original diamond model is used to incorporate internationalization which is very important for Asian countries, notably Japan. Furthermore, its competitiveness is compared with neighboring countries that are in competition in the global market.,Japan’s current economic problems and its slow recovery are because of a lack of globalization vis-a-vis its counterparts in the region, rather than specific macro-economic factors. Hence, further globalization is crucial toward ensuring a further take-off for the economy.,Macro-economic policies may be important but cannot directly improve a nation’s competitiveness. This paper highlights the importance of globalization and concludes that multinational activities are crucial to enhance a nation’s competitiveness in both domestic and international scope.,This paper adopts the concept of national competitiveness to examine the fundamental economic problems of Japan’s slow recovery and stagnancy more comprehensively. In particular, it compares the competitiveness of Japan with its neighbors which are its economic competitors.