A new report confirms that the global popularity of Korean content is delivering positive effects on the agricultural and food industry.
The Korea Chamber of Commerce and Industry and the Korea Agro-Fisheries & Food Trade Corporation have recently pointed to the spread of Hallyu and K-content as major drivers behind rising processed food exports. However, empirical research analyzing the correlation between the two industries has been limited until now.
On the 18th, the Korea Creative Content Agency (KOCCA) published a KOCCA Focus report titled "K-Food Takes Flight with Content," analyzing the economic effects of the content industry on the agricultural and food sector. The report reconstructed input-output tables using a special classification system to empirically analyze the content industry's impact on Korea's agricultural and food industry.
According to the report, the content industry's average production inducement coefficient stands at 1.757, with the coefficient for the agricultural and food industry at 0.080. This suggests that the content industry is positively influencing agricultural and food industry growth beyond mere cultural diffusion.
The analysis also found that a 10% increase in content exports would boost agricultural and food production by approximately 166 billion won and total industrial production by approximately 3.79 trillion won. These effects were notably stronger in final consumer goods such as processed foods and dining out, rather than in raw agricultural materials.
Song Jin, Director of the Content Industry Policy Research Center at KOCCA, said: "This analysis confirms that the content industry's ripple effects are spreading beyond cultural phenomena to the broader real economy. We will continue to explore collaboration possibilities between content and related industries and contribute to enhancing the economic value of K-content."
