Korea's Audiovisual Industry Adds $16.4bn, 291k Jobs
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- Motion Picture Association commissioned an Oxford Economics study that found South Korea’s audiovisual sector contributed KRW24.08 trillion ($16.4 bn) to GDP and supported 291,100 jobs in 2025.
- Oxford Economics calculated a GDP multiplier of 3.1 and an employment multiplier of 3.4, meaning each KRW1 bn of direct output generated KRW2.1 bn across the broader economy and each 100 direct jobs supported an additional 240 elsewhere.
- Television accounted for roughly 65 % of the industry’s GDP output (KRW15.62 trillion) and 181,200 jobs, while video‑on‑demand (VOD) workers were the most productive, averaging KRW437 m ($297 k) per head—about five times the national average.
- VOD is projected to be the fastest‑growing segment, with direct GDP and tax contributions expected to rise about 7.4 % and 7.2 % annually through 2028, whereas film and television are forecast to contract modestly.
- Korean film and TV exports hit KRW1.8 trillion ($1.2 bn) in 2024, nearly double 2019 levels and surpassing beverage, spirit, and railway locomotive exports.
- Tourism data show 38.3 % of inbound visitors cited Korean Wave content as their travel motivation, up from 32.1 % the prior year; the Netflix drama “When Life Gives You Tangerines” helped boost Jeju’s foreign arrivals 17.5 % and the Haenyeo Museum’s foreign visits 58.9 %.
- Korea Creative Content Agency and the Ministry of Culture, Sports and Tourism pledged KRW43 bn ($29.3 m) in a 2026 roadmap to train ~3,400 professionals in AI, creative and export roles, including 1,000 VOD specialists retrained with Netflix.
Why it matters: The sector’s $16.4 bn output and 291 k jobs directly boost South Korea’s economy, while the projected 7 % annual rise in VOD revenue and record export earnings expand tax receipts and foreign tourism. At the same time, stagnant theater attendance and shrinking mid‑budget film margins threaten traditional producers, prompting government training and merger plans to preserve competitiveness.
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