What Is Hallyu and why are luxury brands obsessed with it?
“Research tells us that the hallyu industry has been a major draw for tourism to Korea, particularly inter-Asian tourism, which tends to be realized in large group tours that are well organized,” Mary Ainslie, an associate professor at the University of Nottingham Ningbo China Campus who specializes in Southeast Asian culture and media, tells TIME.
Between 2000 to 2019, South Korea saw a 12.18 million increase in inbound visitors, rising from 5.32 million people in 2000 to 17.5 million in 2019, according to. But as a result of the COVID-19 pandemic, the number of tourists fell to unprecedented lows, dropping by 85% in 2020 and a further 62% in 2021 . Historically, South Korea attracts many tourists in their twenties from neighboring countries such as Japan and China, but it is increasingly attracting tourists from around the world.
in 2020 to promote its offering of South Korean television and film productions on its platform, offering its global audience a wealth of Korean content. The campaign strengthened the appeal of hallyu tourism, which the nation is hoping to capitalize on this year—and so, too, are luxury brands. “Since the beginning of hallyu’s overseas appeal in the mid-2000s, Korean fashion has always been a part of this industry, though to a lesser extent than cosmetics,” says Ainslie, “Fashion was often advertised through its connection to Korea, though it tended not to be luxury goods, which is a more recent development in overseas nations.”
Before the pandemic, Koreans typically made luxury purchases abroad, as brands tended to offer better deals in other countries, but this became difficult during the pandemic and demand for luxury began to rise,
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