On November 15th, 15 countries have formed the world's largest trading bloc, the Regional Comprehensive Economic Partnership (RCEP). The RCEP consists of 10 Southeast Asian countries, as well as South Korea, China, Japan, Australia, and New Zealand. Thus the new trading bloc subsequently heightened the Korean government's anticipation regarding the Korean wave (Hallyu) in these Southeast Asian countries.
Back on November 13th, the Japanese media called attention to the popularity of Korean culture in Southeast Asian countries, especially in Thailand. The most popular theory of how the table has turned, explains the loss of the competitive edge of Japanese media and culture was because they were too narrowly focused on the domestic buyers. Japan still has an enormous influence on the anime and game industry, however, Japan no longer kept its place as the most influential cultural wave.
But I personally refuse to be complacent. The sustainability of Hallyu's popularity can not be foreseen. In fact, when surveyed 4 Southeast Asian countries, 52% of respondents answered they don't expect Hallyu to last longer than 4 years. Korea should keep on developing or auditing the existing policies.
Hallyu wave has been such a savior for me personally. I grew up in a really white community, I moved around a lot as a child, but when we finally settled down, I was the only Korean kid in my whole school until my sister and a transfer student went to my school. I grew up culturally Korean, Korean was my first language and my parents used to let me watch kdramas, Korean cartoons, and korean sit coms. I didn't grow up with teletubbies, I grew up with "High Kick" and "Pororo." Naturally kids made fun of me, from the music I liked to the food I ate. Sometimes kids would pull my hair and hide my things and I couldn't tell my teachers, half of them didn't even know what I was saying. Then the Hallyu wave happened when I went to middle school and gradually people at my school became more accepting and even started watching kdramas and listening to KPOP. People started to accept me a little more and Kpop helped me accept myself too. It's been a hard journey, but Hallyu wave helped me alot.
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