Hallyu Explained | The reason Korean culture is taking over the world | This Is Why

BTS, Parasite, Squid Game. Three of the biggest South Korean pop-cultural sensations of the past few years. These are the result of years of work and investment by the South Korean government, and with Netflix recently investing $1 billion into creating Korean content, they won't be the last you see. Subscribe here: https://7news.link/ThisIsWhy Produced by Lucy Hatcher. In 1994, the South Korean government released a report stating that the movie 'Jurassic Park' was worth the sale of 1.5 million Hyundai cars, one of South Korea's biggest exports. After the Asian Financial Crisis hit South Korea hard, president Kim Dae-Jung relied on the power of cultural exports to make back their lost money. Now, South Korea's entertainment industry is worth around $US10.3 billion. Watch the full video now - explainer news for all. Welcome to This Is Why, with Michael Usher. The news explained. Connect with Seven News online Visit » https://7news.com.au 7NEWS Podcast » http://smarturl.it/7NewsDaily Facebook »   / 7newsaustralia   Twitter »   / 7newsaustralia   Instagram »   / 7newsaustra.  . 7NEWS combines the trusted and powerful Australian news brands including Sunrise, The Morning Show, The Latest, and 7NEWS.com.au, delivering unique, engaging and continuous coverage on the issues that matter most to Australians. Watch 7NEWS nightly at 6pm and weekdays at 11:30am and 4pm on Channel 7 and 7plus. #Hallyu #KoreanWave #K-pop #Explainer #ThisIsWhy #7NEWS