The Next Growth Strategy for Hallyu: A Comparative Analysis of Global Entertainment Firms

Previous policy approaches on Hallyu have been focused on the role of government engagement, particularly in fostering diversity and equal business opportunities for small-and-medium enterprises (SMEs). However, a more strategic approach to the cultural industries should be implemented by carefully...

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Main Authors: Lee, Yeon W., Kim, Kyuchan
Format: text
Published: Archīum Ateneo 2024
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Online Access:https://archium.ateneo.edu/kk/vol1/iss32/6
https://archium.ateneo.edu/context/kk/article/1776/viewcontent/KK_2032_2C_202019_206_20Special_20Forum_20Kritika_20__20Lee_2C_20Kim.pdf
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spelling ph-ateneo-arc.kk-17762024-12-19T03:06:03Z The Next Growth Strategy for Hallyu: A Comparative Analysis of Global Entertainment Firms Lee, Yeon W. Kim, Kyuchan Previous policy approaches on Hallyu have been focused on the role of government engagement, particularly in fostering diversity and equal business opportunities for small-and-medium enterprises (SMEs). However, a more strategic approach to the cultural industries should be implemented by carefully examining the role of the private sector, particularly the role of large enterprises (LEs). This is important because LEs have an overarching and fundamentally differentiated role in increasing the size of industry through their expansive value-creating activities and diversified business areas. This study focuses on the complementary roles of SMEs and LEs in facilitating the growth of Hallyu by bringing in the perspective of value chain diversification and the modified value chain framework for the film industry. By conducting a comparative analysis of the global entertainment firms in the US, China, and Japan, this study reveals how LEs in the global market enter and explore new industries within culture and continue to enhance their competitiveness. By forming a business ecosystem through linking their value-creating activities as the platform of network, this study looks into the synergistic role among enterprises of different size and scale and suggests that Korea’s policy for Hallyu should reorient toward a new growth strategy that encourages the integrative network of firms where the value activities of LEs serve as the platform for convergence. 2024-12-19T03:09:51Z text application/pdf https://archium.ateneo.edu/kk/vol1/iss32/6 info:doi/10.13185/1656-152x.1776 https://archium.ateneo.edu/context/kk/article/1776/viewcontent/KK_2032_2C_202019_206_20Special_20Forum_20Kritika_20__20Lee_2C_20Kim.pdf Kritika Kultura Archīum Ateneo cultural policy; entertainment industry; growth strategy; Hallyu; platform; value-creating activities
institution Ateneo De Manila University
building Ateneo De Manila University Library
continent Asia
country Philippines
Philippines
content_provider Ateneo De Manila University Library
collection archium.Ateneo Institutional Repository
topic cultural policy; entertainment industry; growth strategy; Hallyu; platform; value-creating activities
spellingShingle cultural policy; entertainment industry; growth strategy; Hallyu; platform; value-creating activities
Lee, Yeon W.
Kim, Kyuchan
The Next Growth Strategy for Hallyu: A Comparative Analysis of Global Entertainment Firms
description Previous policy approaches on Hallyu have been focused on the role of government engagement, particularly in fostering diversity and equal business opportunities for small-and-medium enterprises (SMEs). However, a more strategic approach to the cultural industries should be implemented by carefully examining the role of the private sector, particularly the role of large enterprises (LEs). This is important because LEs have an overarching and fundamentally differentiated role in increasing the size of industry through their expansive value-creating activities and diversified business areas. This study focuses on the complementary roles of SMEs and LEs in facilitating the growth of Hallyu by bringing in the perspective of value chain diversification and the modified value chain framework for the film industry. By conducting a comparative analysis of the global entertainment firms in the US, China, and Japan, this study reveals how LEs in the global market enter and explore new industries within culture and continue to enhance their competitiveness. By forming a business ecosystem through linking their value-creating activities as the platform of network, this study looks into the synergistic role among enterprises of different size and scale and suggests that Korea’s policy for Hallyu should reorient toward a new growth strategy that encourages the integrative network of firms where the value activities of LEs serve as the platform for convergence.
format text
author Lee, Yeon W.
Kim, Kyuchan
author_facet Lee, Yeon W.
Kim, Kyuchan
author_sort Lee, Yeon W.
title The Next Growth Strategy for Hallyu: A Comparative Analysis of Global Entertainment Firms
title_short The Next Growth Strategy for Hallyu: A Comparative Analysis of Global Entertainment Firms
title_full The Next Growth Strategy for Hallyu: A Comparative Analysis of Global Entertainment Firms
title_fullStr The Next Growth Strategy for Hallyu: A Comparative Analysis of Global Entertainment Firms
title_full_unstemmed The Next Growth Strategy for Hallyu: A Comparative Analysis of Global Entertainment Firms
title_sort next growth strategy for hallyu: a comparative analysis of global entertainment firms
publisher Archīum Ateneo
publishDate 2024
url https://archium.ateneo.edu/kk/vol1/iss32/6
https://archium.ateneo.edu/context/kk/article/1776/viewcontent/KK_2032_2C_202019_206_20Special_20Forum_20Kritika_20__20Lee_2C_20Kim.pdf
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