Descended From the Sun adds jolt to the Korean economy
The recent hit medical-military drama Descended From the Sun, starring Song Joong-ki and Song Hye-gyo, has caused an explosion of economic growth. According to a report by the foreign economic research department of the Export-Import Bank of Korea, Descended is estimated to generate a whopping 1 trillion KRW increase in revenue. In addition to the profits gained from exporting the drama overseas, there are huge indirect benefits such as tourism increase, global country branding, ad marketing consumption, and job growth.
Currently, the drama is being exported to China (for roughly $4 million USD), Japan ($1.6 million USD) as well as Taiwan, Hong Kong, the Philippines, and Vietnam. Furthermore, the U.S., U.K., France, Italy, and other European nations have also imported Descended for a total of 32 countries that are now viewing the show. So far, the revenue created from just selling the show is nearly 7 billion KRW.
MBC’s Dae Jang Geum still holds the greatest export record for a cultural commodity, at 87 countries and 13 billion KRW. Keeping that in mind, Descended is expected to reach at least 10 billion KRW.
However, it’s the indirect ripple effect that’s generating the big bucks. Descended has contributed to an overall increase in Hallyu tourism and the consumption of drama-related domestic goods, such as cars. If past data regarding Hallyu tourism from big hits like Dae Jang Geum and You from Another Star holds true, then one tourist creates a cash flow of 1.25 million KRW per visit.
Altogether, boosted tourism and car sales will produce an estimated 300 billion KRW. Moreover, economic activity associated with increased domestic goods production including international marketing will approximately yield 600 billion KRW. Taking everything into consideration, the total direct and indirect income generated by Descended From the Sun is expected to be around 1 trillion KRW.
No big deal. Just another way that dramas make the world better.
Via Xports News
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Tags: Descended From the Sun