The Korean Wave as an Economic Catalyst: Opportunities for Entrepreneurship and Women Empowerment

Abstract

The Korean Wave (Hallyu), characterized by the global popularity of South Korean culture—including K-pop, K-dramas, K-beauty, fashion trends, and Korean cuisine—has significantly impacted consumer behavior, cultural exchange, and entrepreneurship across the world. This paper explores the intersection of the Korean Wave with economic empowerment, focusing on how the cultural phenomenon serves as a catalyst for economic opportunities, women’s empowerment, livelihood and employment generation. The Korean Wave presents opportunities in both the economy and society by creating sustainable livelihoods and promoting self-reliance. Key areas of opportunity include K-beauty (beauty and skincare industries), Korean food entrepreneurship and fashion inspired by Korean aesthetics. Furthermore, these trends offer pathways for women’s economic empowerment by fostering women-led enterprises and providing skill-building in sectors linked to K-wave industries. This paper examines the role of the Korean Wave in creating pathways for economic development in Mizoram. The study employed a qualitative method of semi-structured interviews among entrepreneurs and businesses engaged in marketing of Korean products. By leveraging the Korean Wave’s cultural appeal and entrepreneurial opportunities, the study evaluates how the Korean Wave acts as an economic catalyst and promotes opportunities for entrepreneurship and economic empowerment.