TikTok Projects K-Culture Economic Impact to Reach 40.6 Trillion Won by 2030

Economy 365

TikTok has released an analysis projecting that K-culture could generate an economic impact of 40.6 trillion won on the South Korean economy by 2030.

The findings are the result of an analysis by TikTok and global consulting firm Kearney, which surveyed more than 3,300 consumers across 10 countries regarding six sectors including K-pop, media, and beauty. The economic impact of TikTok on K-culture is projected to grow by 29%, rising from 31.37 trillion won this year to 40.64 trillion won by 2030.

The 2030 consumer scale is estimated at 13.92 trillion won, with resulting domestic production inducement effects reaching 26.72 trillion won and employment inducement effects estimated at 118,865 people.

By sector, the direct economic impact was largest in beauty at 3.27 trillion won, while tourism is projected to grow 44% compared to this year, recording the highest growth rate and largest employment impact among the six sectors.

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