Chinese money flows into Korean culture industry amid streaming war
Posted : 2021-01-14 17:29
By Park Ji-won
It is nothing new for Korean dramas and films to enjoy popularity in Asian countries, as Korean media content has been viewed increasingly across the continent over the last few decades. Since the introduction of online streaming services, or over-the-top (OTT) media services such as Netflix, sometimes fans both in and outside of Korea can now receive the latest films and dramas at the same time.
But in the gigantic Chinese market, things are different. Since the Chinese government banned any Korean cultural content from being consumed in China in 2017 ― an apparent act of economic retaliation after Korea s introduction of the Terminal High Altitude Area Defense (THAAD) system from the United States ― no single Korean drama has been released officially in China. It also became extremely difficult for Korean singers, even stars such as BTS, to perform in China.