Minister of Culture, Sports and Tourism Chae Hwi-young speaks during a news conference held in central Seoul on May 28.
Ministry of Culture, Sports and Tourism redefined the scope of “K-culture” and adjusted the sector’s 2030 target market size from 300 trillion won ($219 billion) to 400 trillion won.
The ministry newly included export figures from lifestyle industries such as K-beauty, K-food and K-fashion, while excluding sales from e-commerce and overlapping sectors.
"There were adjustment that needed to be made in how we define K-culture. The categorization wasn't refined in the previous version," said Culture Minister Chae Hwi-young in a news conference held Thursday, marking the first anniversary of the Lee Jae Myung administration.
"Exports of K-food, beauty and fashion were clearly reflection of overseas demand created because of K-culture. So we included them."
