I believe you are all familiar with the term ‘Korean Wave’. It literally refers to the ‘waves’ created by the charm of ‘Korea’, and it is now deeply entrenched in daily lives of people around the world more than we could imagine. It used to be a rather one-off phenomenon limited to certain regions, but the Korean Wave today is spreading without boundaries in almost all areas, developing in real time.

On my recent visit to the UK, I was impressed by what I saw. There was a restaurant called ‘KANGNAM POCHA’ on the street, and trendy restaurants were offering Korean-style dishes as if it was normal. The Victoria and Albert Museum was holding a special exhibition on the Korean Wave. In Japan, Korean fashion and food have long been established as a trendy culture. The number of ‘Kanbini’, a store specializing in Korean products, is increasing, and there are Japanese cosmetic products that have similar concepts to those of Korean brands. In Vietnam, supermarkets are filled with Korean food products.

Nowadays, ‘Koreanness’ is perceived as something luxurious, hip, and trendy. The current Korean Wave does not refer to tradition – rather, it refers to the reinterpretation of contemporary values in a Korean way, which is then developed into media content with different stories added to it so that people around the world can relate to. It is becoming a global phenomenon of media content that everyone influences and develops together. It means that we can understand today's Korean Wave properly only when we see ourselves through the perspective of the world as well as the perspective of the current generation.

One of the secrets to the development of the Korean Wave is the highly competitive Korean content such as K-pop, K-drama, and K-movie. The younger generation of Koreans who are fluent in global communication and who enjoy challenging themselves actively created media content and communicated with each other, which was also a big help. The role of digital platforms such as YouTube, Facebook, Instagram, and TikTok should also be taken into account. By creating a community, they are expanding their roles beyond simple platforms to become advertising media.

We have various stories around our brands as assets. With the global customers' interest in Korea in mind, we need to think together about how to turn our brands’ unique Koreanness into stories to present edgy media content. For example, HERA and LANEIGE can tell the stories of the brands and products by maximizing the desirable qualities of Seoul or the dynamic daily lives of women in Seoul. HANYUL mainly focuses on the domestic market, but it can reinterpret ‘Korean makeup techniques’ for the contemporary time based on the meaning of the word ‘YUL’, which means rules.

If the customers in the potential market are interested in Korean-style beauty, the beauty tips linked to the unique philosophy can be introduced. In the past, served as an influential media to inform and spread beauty techniques, leading the beauty trends of the time. If so, what kind of media content should be included in Amore Mall, which has become our representative platform?

It is also important to connect well-made media content with the global community and commerce effectively. In North America, Japan, and ASEAN countries, while reinforcing the relationships with business partners, we also need to attract interest and encourage sales with attractive media content. We have not made inroads into the European markets such as the UK and Germany yet, but we will be able to reach customers by working with multi-brand shops or e-commerce partners of each country. It is not easy to launch businesses in the South American market, but even there, we may be able to find indirect business opportunities through global platforms for reverse overseas direct purchasing.

Let's make wise use of the Korean Wave. If we prepare ourselves with imagination and the spirit to challenge ourselves, it will not be difficult for ‘Team Amore’ that has achieved the success of K-beauty. I hope that we can create a new Korean Wave that embodies the value of New Beauty in the global ocean. Through the pandemic, we have been reborn, and an endless sea of opportunities has now opened up before us. Let's join hand and be brave!