ABSTRACT
In this study, we analyze the economic impact on the rise of cultural tourism in South Korea caused by the “Korean Wave” phenomenon, which emerged in the mid-2000s. We examine the case of the “Korean Wave” from two perspectives. The first perspective is a panel data showing the direct influence of the Korean Wave on the volume of incoming tourists and the development of the conjugated sectors of the economy (including trade and industry) based on statistics, reports, and survey results published by various Korean government agencies and institutions. The second perspective is the range of governmental measures and initiatives implemented to boost and promote the effect of the Korean Wave. The scientific dialectical method of cognition was used in the survey to study the role and influence of the Hallyu phenomenon on the change in economic indicators of cultural tourism, as well as the calculation and analytical methods such as monitoring, measurement, analysis, and comparison of statistical and economic indicators. The results of this study give some insights into how Hallyu influenced the growth of the number of tourists, the amount of goods related to the Korean Wave export, and governmental legislative measures that led to the promotion and dispersion of the Korean Wave.
