Thesis Statement about Success

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Thesis Statement about Success

Details of Research

1. Proposed title:

‘Factors driving the success of Korean’s entertainment industries: an analysis study in Vietnam market’

2. Introduction:

The entertainment industry of Korea is typically referred to as the K-Wave because of its success as the latest and powerful dominance of ‘overflowing’ into the entertainment industry around the world in general. The term ‘Hallyu’ is also translated into English as K-Wave which appeared at the end of the 20th century and in the early 21st century, refers to the global phenomenon of Korean culture, especially in Southeast Asian countries, recently expanded widely in Latin American countries, part of Europe and the Middle East (Ravina, 2008). According to Jonathan Woodie et al., 2017, Korean cultural products, including the entertainment industry, have contributed to the national economy of 12.6 trillion won (US $ 11.6 billion), data collected in 2014. The extent of Kwave’s influence in terms of culture and economy is extremely profound and is in command of the government’s cultural policies and its national media, said Hye-Kyung Lee, 2013.

In less than 15 years, from 2005 to 2014, the Korean music industry has proven its position globally when climbing from position 33rd on the ranking chart of countries with the largest music market to the top 10 and ranked first in terms of growth (+ 19.2%) according to IFPI official report, 2015. Apart from that, Korean screen culture is also recognized as a validating tool in interactions with the real world and many South Korean cultural experts have opinions of Hallyu as the country coming-of-age, as stated by Peter Lang, 2013. It is assumed that K-Wave was following and inheriting the development of the natures of Chinese and Japanese entertainment culture. In addition, Kwave during the period of 2010s also had coverage of all East Asian countries when the application of information technology flourished, which made Korea grow more dramatically than ever, and Vietnam is not an outsider of this trend. However, it was only in 2014 until now that Korea actually recognized Vietnam as the target market for exporting its cultural products. The below part of the paper will clarify the reason for this issue, while also analyzing the opportunities and challenges of Korea to develop in this potential Southeast Asian market.

This paper aims to understand and evaluate the qualitative and quantitative level of success of the Korean entertainment industry and related factors that promote this success. The PEST framework (Francis Aguilar, 1967) was applied in the study to describe and analyze the macro-environmental factors, thus understanding the boom of the K-Wave; in which governmental policy and social culture would be analyzed more thoroughly. Nevertheless, the weakness of this framework when applied to the case of evaluating an industry is not comprehensive (due to being developed from the evaluation of the business model). Therefore, marketing – communication will be studied independently in this article along with the SWOT model, developed by Albert Humphrey, in the 1960s. Along with that is Korean media conceptual parallel research under the perspective of K-Wave as ‘transnational cultural consumption’ (Youna Kim, 2013), which is a successful cultural product under the impact of globalization.

3. Preliminary literature review:

If Kwave is regarded as an intangible business product and the Korean government, in general, has made K-Wave one of the target industries to raise the level of recognition of the domestic economy in the global market, then PEST may be used to assess the overall picture of this economy on the industrial level. The research will reference and compare the information values of the study ‘The Globalization of Kpop: The Interplay of external and Internal Forces’ by Hiu Yan Kong, 2016. The author focuses on researching the external factors to clarify global strategies in ‘achieving the organizational objectives of turning K-pop into a successful global business,’ said Hiu, 2016. In addition, key values such as customer relationship management or activities or assignments are also assigned. as a factor that creates K-pop’s success.

There are different conflicting views when assessing the potential as well as the level of dominance of political factors for the Korean entertainment industry. Political procedures might be extensively characterized as the set of activities and approaches that a state can institute to advance the productive and effective tasks of organizations working inside its purview. This incorporates the ‘provision of infrastructure’ (Kuwahara, 2014), which demonstrates in part how the government genuinely cares and supports the development of this economy in terms of business protection and economic ability of growth. It is not possible to exclude the idea that the Korean government uses the power of the country’s entertainment industry to empower its power in the world. In 2017, Korea’s Ministry of Culture had a financial plan of $500 million and its point is to assemble a culture trade industry worth $10 billion by 2019. Numerous researchers guarantee that the extension of Korea’s social enterprises was driven by the focal government. It was a strategy executed so as to help the tourism industry and different business organizations by improving Korea’s situation as a delicate power all over the world (Negus, 2015).

In addition, the historical-cultural factor influenced the Korean economy, laying the foundation for K-Wave’s leap to be analyzed in ‘The Korean Wave: The Seoul of Asia’ by Sue Jin Lee. , 2011. The American journals, for instance, the Korea Herald are in a great light over neighboring nations on this particular issue. Furthermore, the Korea Herald stated that ‘in the wake of having been colonized by its neighbors, Japan and China, for quite a long time, the nation at long last gets an opportunity to exceed them on the social phase’ (Cho, 2009). According to the OECD newspaper distributed in 2015, it accentuated the significance of redesigning the South Korean economy. In the following 50 years, Korean culture will experience the drastically quick maturing of any OECD part and should support profitability to verify practical, long-haul monetary growth. The word ‘The Republic of Korea: K-culture and the Next Wave of Economic Growth’ by Jonathan Woodier and Sungwoo Park, 2017 offers a prologue to the extremely prompt difficulties that the new government faces, revises the literature regarding the matter, and does a situational investigation key to structuring and refreshing national approaches, methodologies, and plans. This research likewise proposes further research and examination of the Moon president’s techniques and tactics.

Regarding Korean inner culture factors, the book ‘East Asian Pop Culture: Analyzing the Korean Wave’ by Chua Beng Huat and Koichi Iwabuchi, 2008 endeavored to look at the direction of Korean mainstream culture ventures that connect them to worldwide and nearby political monetary relations and the residential social condition; debate about the administration arrangements and domestic business moves that changed the Korean film industry, assessing the worldwide political financial context. Steven Chen examines in his study ‘Cultural Innovation: A Framework for Marketing Cultural Exports – analysis of Hallyu ( the Korean Wave)’ every one of the four fundamental variables adding to the worldwide achievement of the Korean music industry: the advancement of the media advances (internet), the Korea government ( authorizing the inundation of remote popular music and upholding copyrights), the reverberation of the Korean cultural products with other East Asian societies, and the diaspora of the Korean. In recent years, the Korean media industry has been empowering rethinking the role of the country state in transnational social streams just as in territorial media joint efforts. While the Korean media industry had been viewed as a fringe framework, today the Korean media have achieved more extensive than at any other time in the universal market and have reinforced the extent of media practices and business impacts, as stated by Yasue Kuwahara, 2014 in the book ‘The Korean Wave: Korean Popular Culture in Global Context’. According to Nicoleta Stefanÿ Valean, 2017, Korean’s transnational substance business has been dynamic inside Asia however today it goes topographically far further regions, for example, South and North America and Europe. A method for observing the Korean Wave is as an impression of ‘glocalization’ by the Korean media industry.

Besides, research on K-Wave in the Vietnam market is still a fragile and unnoticed category. However, new methodology and research will be applied to analyze this market. SWOT model (Albert Humphrey, 1960s) is the core model in this part of the research.

4. Research question(s):

This dissertation seeks to address two primary research questions and two secondary questions for each broad question (four secondary questions in total):

a. What factors contributed to the success of the Korean Wave?
b. What are the challenges and opportunities for the Korean Wave in the Vietnam market?

5. Proposed research method(s):

The dissertation consists of three main parts. The first part of this research will focus on clarifying and responding to the first broad question and the first sub-question of that section. The PEST model created by Francis Aguilar, 1967 is applied to study the external and internal elements driving the success of the Korean entertainment industry through quantitative research methods. Previous research works related to the topic such as: ‘East Asian Pop Culture: Korean Wave of the Wave’ by Chua Beng Huat and Koichi Iwabuchi, 2008; ‘The Globalization of Kpop: The Interplay of External and Internal Forces’ by Hiu Yan Kong, 2016 are discussed, and paved the way for newly updated statements in terms of progression and data quality.

The second part of the research is a continuation of part one but yet independent. This paper is the study of the success of K-Wave in view of the effectiveness of communication – marketing. In response to this second sub-question, the researcher will use the mixed methods approach because of the complexity and coverage of the problem. Studies from ‘The Korean Wave: Korean Media Go Global’ by Youna Kim, 2013; Korean Screen Culture: Interrogating Cinema, TV, Music, and Online Games by Andrew David Jackson et al., 2016 will be discussed in parallel with the first sub-question. In addition, the questionnaires and interviews will be included to refer to the new values brought about by the media from the perspective of cultural consumers. The interview method was used to delve into the reasons for the problems related to the level of success of Korean entertainment in the context of new markets like Vietnam.

The third largest part is dedicated to the market context. Due to the specific and complex market environment, it is recommended to use primary and secondary data, adding to other research methods such as surveys and interviews. Subjects participating in in-depth interviews are limited to the target group and are affected by the level of identification of K-Wave. Interviews will be conducted throughout and repeated to provide objective and valid results for the research objective. The survey will take place on a wider scale due to the requirement of K-Wave’s current coverage level in Vietnam. The results of the survey will be used to measure the current success of the Korean entertainment industry in Vietnam and from there discuss the challenges and development direction for K-Wave in this market.

6. Ethical issues:

Justification: This proposed paper has a clear direction in using past studies and developing new perspectives. The inheritance and promotion value of the research topic is purposeful and valuable to the entertainment industry in particular and the creative industry in general.
Access to participants: Participants in the interview or survey will be assured of personal information and sensitive opinions. The collected data will be completely used for research purposes. There will be no exchange, utilization, or sale of personal information of participants. All related individuals in this study, regardless of colleagues friends, or strangers, will have equal rights in intellectual property.
Informed consent: The purpose and general core content of this dissertation will be fully provided to all participants in the project. Participants have a right to know how the information they provide will be used in the process of analyzing data and giving valid results. Participants also have the right to refuse to provide information that is not appropriate for them during the course of the study and other related security rights.
Potential harm: The research ensures that the purpose of the study is completely virtuous, without adversely neither affecting relatable parties or the surrounding environment. If any person/ property incident is affected, the researcher will bring out appropriate methods for solutions.
Conflict of interest: The research is conducted independently, without sponsorship or protection of any representative. The researcher will be mindful of the agents that may affect the research results and avoid causing confusion in the transmission of information.
Data integrity: Similar to the interests of the parties involved in the dissertation mentioned above, data security will also be protected in this research. The data used will only be given the analysis process and will produce results as long as it is legal and agreed upon by the relevant people.

7. References:

Books:

Chua, B.H. and Iwabuchi, K. eds., 2008. East Asian pop culture: Analysing the Korean wave (Vol. 1). Hong Kong University Press.
Emilie, D.T., 2012. Emergence of the Korean Popular Culture in the World. Unpublished. Thesis. Turku University of Applied Sciences.
Howard, K. 2014. Youna Kim (ed.): ‘The Korean Wave: Korean Media Go Global’. xvi, 233 pp. London and New York: Routledge, 2013. ISBN 978 0 415 71278 1. Bulletin of the School of Oriental and African Studies, 77(3), 644-646. doi:10.1017/S0041977X14000998
Kim, Y. ed., 2013. The Korean wave: Korean media go global. Routledge.
Kuwahara, Y. ed., 2014. The Korean wave: Korean popular culture in a global context. Springer.
Messerlin, P.A. and Shin, W., 2013. The K-pop wave: An economic analysis.
Shin, Y., 2007. Book Review: Joseph S. Nye, Jr., Soft Power: The Means to Success in World Politics (New York: Public Affairs, 2004, 191 pp., 14.00pbk., 25.00 hbk.). Millennium, 35(2), pp.458-460.
Tuk, W., 2012. The Korean Wave: Who is behind the success of Korean popular culture? (Master’s thesis).
Valean, N.S., 2017. Creative industries in South Korea: the Korean wave.
Williams Jolin, J., 2017. The South Korean Music Industry: The Rise and Success of ‘K-Pop’By: Johan.
Kong, H.Y., 2016. The globalization of K-pop: The interplay of external and internal forces (Doctoral dissertation, Hochschule Furtwangen).

Journals:

Jonathan WOODIER and Sungwoo PARK, 2017. ‘Republic of Korea: K-culture and The Next Wave of Economic Growth-IJCCI – International Journal of Cultural and Creative Industries’ [online] Available at: http://www.ijcci.net/index.php?option=module&lang=en&task=pageinfo&id=249&index=7 [Accessed 10 Feb. 2019].
Aisyah, A., 2017. Korean-English Language Translational Action of K-Pop Social Media Content: A Case Study on Bangtan Sonyeondan’s (BTS) Official Twitter. 3L: Language, Linguistics, Literature®, 23(3).
Sue Jin Lee, 2011. ‘The Korean Wave: The Seoul of Asia’ [online] Available at: http://www.elon.edu/docs/e-web/academics/communications/research/vol2no1/09suejin.pdf [Accessed 14 Feb. 2019].