Culture Minister Chae Hwi-young speaks during a press conference at the National Museum of Modern and Contemporary Art in Seoul, Thursday. Courtesy of Ministry of Culture, Sports and Tourism
When President Lee Jae Myung took office last year, his administration's goal for K-culture exports by 2030 was set at $35 billion. On Thursday, the government updated the target at a much higher level: $110 billion.
The new export target came up as the government redefined the scope of K-culture and recalculated its market size.
Under the new definition, K-culture now includes tourism, K-food, K-beauty and K-fashion.
“Inbound foreign tourism is a natural result and extra benefit of K-culture, because visitors come to Korea after falling in love with its cultural charms,” Culture Minister Chae Hwi-young said during a press conference in Seoul, Thursday. "We also included global demand for K-food, K-beauty and K-fashion, as these lifestyle choices are driven by overseas consumers' attraction to Korean culture."
