________________________________________
📢 Exciting News! Professor Han Woo PARK on CNA938 Discusses South Korea's Economy!
________________________________________
I had a fantastic time speaking with Sharlyne Soh, Andrea Heng, and Hairianto Diman on CNA938 (Singapore's news radio station) this morning!
We dove deep into the fascinating topic of the South Korean economy and explored whether the highly anticipated return of BTS could spark a new surge in economic growth. It was a lively 10-minute chat over Zoom on live radio, and I truly enjoyed sharing insights on this dynamic subject.
A huge thank you to Sharlyne, Andrea, and Hairianto for the engaging discussion! Stay tuned for more updates on South Korea's economic landscape.
#SouthKorea#KpopEconomy#BTSEffect#CNA938#GlobalEconomy#ProfessorHanWooPARK www.channelnewsasia.com/listen/cna938 CNA Audio - CNA938 live radio, CNA podcasts, Singapore news
🎤 Q1: Given BTS's immense economic impact, is it time for South Korea to review its main economic drivers?
Yeah, I think it’s a good time to take a fresh look. BTS and K-pop have clearly helped Korea’s economy — with tourism, album sales, and content exports. But depending too much on just one thing, like K-pop, can be risky. Trends change fast, right?
Korea has been strong in cars and semiconductors. But now, we need to grow in other areas too — like AI, biotech, and even games. For example, Korean Demon Hunters is a great example of K-culture moving beyond just music. If we support more creative and high-tech industries, we can build a stronger, more balanced economy for the future.
________________________________________
🎤 Q2: K-pop physical album sales fell this year. Why the decline, and how can the industry regain sales?
Yeah, album sales dropped a bit, and there are a few reasons. First, big groups like BTS are on military break, and others like BLACKPINK are less active. So naturally, fewer people are buying albums.
Also, fans used to buy lots of albums during the pandemic. But now they’re spending concerts, fan meetings, and travel again. And for global fans, shipping costs from Korea are still really high.
To fix this, companies can add more value to albums — like digital content or eco-friendly packaging. Korean Demon Hunters actually offered cool story-based content with their albums — fans loved that. And of course, great music is key. If the music is strong, fans will come back.
________________________________________
🎤 Q3: Samsung isn't doing too hot right now either. How well can it sustain South Korea?
It’s true Samsung has had a tough time lately — especially in chips. But they’re still super important to Korea’s economy. They lead in tech and create a lot of jobs.
The good news is, demand for AI chips is growing fast, and Samsung is investing a lot in that. They’re also pushing into things like foldable phones, robotics, and biotech. It won’t be easy, with competition from places like China, but Samsung has the experience and tech power to bounce back.
So yeah, Samsung is still a key pillar for Korea’s economy — and with government support, they’ll stay strong.
________________________________________
🎤 Q4: Economic troubles ahead: South Korea facing stiff competition + US tariffs; haven't signed a deal.
Yeah, it’s a tricky time. Korea is facing strong competition from China, the US, and even new players like Vietnam or India. And US tariffs and supply chain rules make things harder.
To stay competitive, Korean companies are moving some production to the US and investing more in advanced tech. It’s expensive, but it opens doors to US incentives too.
It’s a real balancing act — we trade a lot with China, but we also rely on the US for security. So Korea needs smart policies and strong teamwork between business and government to find new growth engines and stay ahead.
________________________________________
🎤 Q5: How likely is economic cooperation with China and Russia with Lee Jae-myung's new diplomatic bent?
Lee Jae-myung became president, I think he’d try to take a more balanced and practical approach. With China, cooperation is likely — it’s our biggest trading partner, after all. He’d probably try to reduce tension and focus on trade and investment.
With Russia though, it’s harder. Because of the war in Ukraine and international sanctions, economic ties are limited. Energy could be one area for discussion, but overall, not much is likely to happen there soon.
So, strong China ties? Very likely. But deep cooperation with Russia? Not so much, at least for now.
________________________________________
🎤 Closing:
Thanks so much for having me today. South Korea is at a big turning point. With smart strategy — and creative power like K-pop, Korean Demon Hunters, and strong companies like Samsung — I think we can shape a strong future.
박한우교수TV- 빅로컬빅펄스
________________________________________
📢 Exciting News! Professor Han Woo PARK on CNA938 Discusses South Korea's Economy!
________________________________________
I had a fantastic time speaking with Sharlyne Soh, Andrea Heng, and Hairianto Diman on CNA938 (Singapore's news radio station) this morning!
We dove deep into the fascinating topic of the South Korean economy and explored whether the highly anticipated return of BTS could spark a new surge in economic growth. It was a lively 10-minute chat over Zoom on live radio, and I truly enjoyed sharing insights on this dynamic subject.
A huge thank you to Sharlyne, Andrea, and Hairianto for the engaging discussion! Stay tuned for more updates on South Korea's economic landscape.
#SouthKorea #KpopEconomy #BTSEffect #CNA938 #GlobalEconomy #ProfessorHanWooPARK
www.channelnewsasia.com/listen/cna938
CNA Audio - CNA938 live radio, CNA podcasts, Singapore news
🎤 Q1: Given BTS's immense economic impact, is it time for South Korea to review its main economic drivers?
Yeah, I think it’s a good time to take a fresh look. BTS and K-pop have clearly helped Korea’s economy — with tourism, album sales, and content exports. But depending too much on just one thing, like K-pop, can be risky. Trends change fast, right?
Korea has been strong in cars and semiconductors. But now, we need to grow in other areas too — like AI, biotech, and even games. For example, Korean Demon Hunters is a great example of K-culture moving beyond just music. If we support more creative and high-tech industries, we can build a stronger, more balanced economy for the future.
________________________________________
🎤 Q2: K-pop physical album sales fell this year. Why the decline, and how can the industry regain sales?
Yeah, album sales dropped a bit, and there are a few reasons. First, big groups like BTS are on military break, and others like BLACKPINK are less active. So naturally, fewer people are buying albums.
Also, fans used to buy lots of albums during the pandemic. But now they’re spending concerts, fan meetings, and travel again. And for global fans, shipping costs from Korea are still really high.
To fix this, companies can add more value to albums — like digital content or eco-friendly packaging. Korean Demon Hunters actually offered cool story-based content with their albums — fans loved that. And of course, great music is key. If the music is strong, fans will come back.
________________________________________
🎤 Q3: Samsung isn't doing too hot right now either. How well can it sustain South Korea?
It’s true Samsung has had a tough time lately — especially in chips. But they’re still super important to Korea’s economy. They lead in tech and create a lot of jobs.
The good news is, demand for AI chips is growing fast, and Samsung is investing a lot in that. They’re also pushing into things like foldable phones, robotics, and biotech. It won’t be easy, with competition from places like China, but Samsung has the experience and tech power to bounce back.
So yeah, Samsung is still a key pillar for Korea’s economy — and with government support, they’ll stay strong.
________________________________________
🎤 Q4: Economic troubles ahead: South Korea facing stiff competition + US tariffs; haven't signed a deal.
Yeah, it’s a tricky time. Korea is facing strong competition from China, the US, and even new players like Vietnam or India. And US tariffs and supply chain rules make things harder.
To stay competitive, Korean companies are moving some production to the US and investing more in advanced tech. It’s expensive, but it opens doors to US incentives too.
It’s a real balancing act — we trade a lot with China, but we also rely on the US for security. So Korea needs smart policies and strong teamwork between business and government to find new growth engines and stay ahead.
________________________________________
🎤 Q5: How likely is economic cooperation with China and Russia with Lee Jae-myung's new diplomatic bent?
Lee Jae-myung became president, I think he’d try to take a more balanced and practical approach. With China, cooperation is likely — it’s our biggest trading partner, after all. He’d probably try to reduce tension and focus on trade and investment.
With Russia though, it’s harder. Because of the war in Ukraine and international sanctions, economic ties are limited. Energy could be one area for discussion, but overall, not much is likely to happen there soon.
So, strong China ties? Very likely. But deep cooperation with Russia? Not so much, at least for now.
________________________________________
🎤 Closing:
Thanks so much for having me today. South Korea is at a big turning point. With smart strategy — and creative power like K-pop, Korean Demon Hunters, and strong companies like Samsung — I think we can shape a strong future.
3 months ago | [YT] | 1