"K-content captivates global audiences not simply because it is 'Korean,' but because it honestly touches the most human emotions, thereby achieving universal resonance."
This was the analysis offered by Michelle K. Sugihara, Executive Director and CEO of CAPE (Coalition of Asian Pacifics in Entertainment), a Hollywood entertainment industry powerhouse, on the global popularity of K-content. CAPE is a non-profit organization founded in Hollywood, the global hub of pop culture, to support Asian and Pacific Islander creators and cultivate their leadership. The organization marks its 35th anniversary this year. Leading the group as a "ladder of success" for Asia-Pacific creators, Sugihara emphasized that the strength of Korean narratives lies not in their Korean-ness itself, but in the universal human experience embedded within them.
Visiting Korea for the first time to attend "Pixel and Paint," a special event of "Seoul Forum 2026" to be held at the Shilla Hotel's State Guesthouse in central Seoul on the 28th of this month, Sugihara conducted a written interview with Seoul Economic Daily on the 17th ahead of her dialogue with Korea University Media Department professor Ma Dong-hoon on the global resonance of K-content. She emphasized that "diversity"—the issue of not being discriminated against on the basis of race, gender, or religion—must be recognized not as an ethical virtue but as a "business imperative." Citing the annual report from global consulting firm McKinsey, she pointed out that "Hollywood is missing approximately $30 billion (about 45 trillion won) in potential annual revenue by excluding Black, Latino, and Asian narratives." According to the report, Hollywood's missed revenue opportunities were estimated at $10 billion from the exclusion of Black content, $12 billion to $18 billion from Latino content, and $2 billion to $4.4 billion from Asian and Pacific Islander content.
The reason diversity drives profitability is the power of consumers. "Today's audiences are smart and unflinching," Sugihara said. "They immediately push back against misrepresentation through social network services (SNS), and the consequences are harsh." Although the era has shifted from television-centered viewing to a platform era where streaming services like YouTube and social media compete for viewers, "audiences find great storytelling wherever it lives," she diagnosed.
She cited two recent works as examples that prove the universality of Korean narratives. One is the Netflix series "Beef," starring Steven Yeun. "Although somewhat exaggerated, 'Beef' delicately handles universal human emotions such as road rage, revenge, depression, and reconciliation," Sugihara said. "Yeun's character was complex and nuanced, and although his 'Korean American' identity was not the center of the story, it functioned as an element that enriched the narrative." The other is the animated film "KPop Demon Hunters," which surpassed 500 million cumulative views by the end of last year after its release in June, becoming the most-watched original in Netflix history. "A work that deals with human emotions like shame, secrets, friendship, and self-acceptance met the most Korean outer shell of K-pop and became the world's biggest hit," she analyzed.
"Through the organization CAPE, we are exploring where people are being marginalized and where we can have the greatest impact, while uncovering Asian stories that have not yet been told," Sugihara said. A representative example is the "Julia Gouw Short Film Challenge," launched by CAPE five years ago, which was created by Janet Yang—a Golden Globe winner and former president of the Academy of Motion Picture Arts and Sciences (AMPAS)—in partnership with philanthropist Julia Gouw. According to research from the University of Southern California (USC) Annenberg, only 0.2% of American film directors are women of Asian and Pacific Islander descent. The "Julia Gouw Short Film Challenge" provides $25,000 in production funding each to four female filmmakers annually, and offers industry networking opportunities to 8 to 12 finalists. Works from this program have advanced to major film festivals such as Cannes, Annecy, and Sundance, with some short films named to the Oscars shortlist and others screened at the White House, producing tangible results. Speaking about Korean narratives discovered through various support programs, Sugihara noted, "They are multi-layered—covering adoptee experiences and aging and caregiving (the film 'TAKE ME HOME'), immigrant, diaspora, and LGBTQ+ identities (the film 'SILENT VOICES'), and grief, mental health, and suicide (the film 'YOU LEFT ME A GHOST')." She added, "Korean stories are limitless and possible in all directions, but they earn true empathy only when they can show subtle, real-life experiences."
Reiterating that K-content's global influence is "an undeniable force," Sugihara said the period after next year is a critical juncture. The basis for that judgment is the flow of capital. Netflix invested $2.5 billion in Korean original content over the four years from 2023 to 2026, double the scale of investment when it first announced its entry into Korea in 2016. Korean works account for 20% of Netflix's non-English original TV titles, and more than 60% of its 300 million subscribers worldwide have watched at least one Korean title. "We need to watch what Netflix's Korean investment will look like after 2027, and K-content must maintain cost efficiency and withstand intensifying competition to solidify its position as Hollywood's essential partner," Sugihara advised.
She advised that for K-content to have a louder voice on the international stage, talent must be cultivated and placed in decision-making positions. Citing the "CAPE Leaders Fellowship" as an example, Sugihara said, "We have been deploying a strategy for the past 10 years that focuses on creative executives who hold 'green light' authority—the power to decide what gets made—because that is what allows Asian voices to wield universal power." She added, "Alumni of this program, which helps mid-level managers and directors advance to vice president (VP) and above, have received more than 40 promotions at companies including Netflix, Amazon MGM Studios, NBCUniversal, Walt Disney, Marvel, Hulu, Paramount, Lionsgate, and A24."
While remaining optimistic about the future of K-content, she stressed that the fundamental nature of entertainment as a business must be kept in mind. "Even in this era of 'great upheaval in the entertainment industry,' where generative AI is rapidly evolving, microdramas and vertical formats are penetrating the U.S. market, and diverse talent is being drawn in, what must not be forgotten is that the foundation of entertainment is 'business,'" Sugihara said. "Korean intellectual property (IP) and formats have already achieved success in the U.S. market through works like 'The Good Doctor' and 'The Masked Singer,' so they will continue to captivate audiences with distinctive storytelling going forward."
