Despite biases against its Chinese origins limiting its widespread use in South Korea, TikTok has recently become a leading force in spreading the Korean Wave, also known as Hallyu.
TikTok recently predicted that Korean culture exports will double by 2030, reaching $143 billion. This projection is based on the widespread dissemination of Korean culture through TikTok, which is most popular among the young generation worldwide.
TikTok is spearheading the export of Korean culture. For example, after rapper Cardi B posted a video review of Buldak Ramen (Korean hot spicy chicken stir-fried noodles), the views surpassed 40 million. This led to a surge in Buldak sales, and the manufacturer’s stock price, Samyang Foods in Korea, recently hit a record high.
South Korea is renowned for its exports, which range from semiconductors to cars and home appliances. Recently, the country has seen a rapid increase in the export of Hallyu, or Korean wave, which includes popular culture elements like K-pop and webtoons. This surge has led to a new generation of billionaires in these creative industries. In this context, TikTok has forecasted that Hallyu exports will double by the end of 2030.
Despite these predictions, TikTok is not very popular in South Korea, where its user base is smaller than that of YouTube and Instagram. However, in Southeast Asia, TikTok is used by 80% of the population, serving as a major platform for consuming Korean culture.
“If you look at the success stories of global trends in K-content, they are often triggered by secondary content from Southeast Asian creators,” said Hyunho Son, general manager of global business solutions at TikTok Korea. “It shows that the Southeast Asian market is acting as a gateway and hub for global viral trends in K-content.”
Bloomberg reported this is because TikTok has a firm grip on the Southeast Asian market. Created by China’s IT giant ByteDance, TikTok is popular with young people worldwide. However, it’s currently facing backlash in the U.S., where officials are considering a ban due to security concerns linked to its massive popularity among the youth.