TikTok Predicts Doubling of 'Korean Wave' Revenue by 2030

TikTok and Kantar predict a doubling of "Korean Wave" revenue by 2030, reaching $1.43 trillion. Currently at $760 billion, this surge is driven by viral content on platforms like TikTok, particularly in the U.S. and Southeast Asia.

Korean culture, encompassing K-pop and dramas, is a significant attraction. TikTok plays a crucial role, not only as a fan hub but also as a sales catalyst for Korean products such as food and cosmetics. A video by Cardi B boosted instant noodle sales, highlighting the platform's market influence.

Although TikTok has a global impact, local Korean users favor YouTube and Instagram. However, TikTok is dominant in introducing Korean culture to new markets, with 80% of users in the U.S. and Southeast Asia discovering it there.

TikTok's expansion into e-commerce, especially with Korean products, is well-timed. Over half of TikTok users have purchased Korean items directly through the app. The music, beauty, and food sectors are particularly robust, with continued growth anticipated.

The report highlights TikTok's role in globalizing Korean culture, enhancing its soft power and economic impact. Southeast Asia is emerging as a pivotal gateway for this cultural and commercial expansion.