South Korea's film, television, and streaming sector made a significant economic contribution in 2025, adding KRW24.08 trillion ($16.4 billion) to the country's GDP and supporting 291,100 jobs. These figures were revealed in an independent economic study titled “Economic Contribution of the Audiovisual Industry in South Korea,” commissioned by the Motion Picture Association (MPA) and produced by Oxford Economics. The report, presented at the National Assembly in Seoul, assesses the sector's comprehensive economic footprint, including direct production, supply-chain spending, and induced consumer expenditure.

The study highlights a substantial multiplier effect within the economy. For every KRW1 billion ($680,000) directly generated by the industry, an additional KRW2.1 billion ($1.4 million) was created across the broader economy, resulting in a GDP multiplier of 3.1. Similarly, the employment multiplier stood at 3.4, meaning every 100 direct jobs supported an extra 240 jobs elsewhere. Micro, small, and medium-sized enterprises (MSMEs) were crucial, accounting for 78% of the sector's total jobs, with micro businesses alone contributing 36% of the employment footprint. The information and communication sector held the largest share of supported jobs, at 116,500, underscoring the digitally intensive nature of the industry's supply chain.

Breaking down the sector's contribution by segment, television emerged as the dominant force, contributing approximately KRW15,620 billion ($10.6 billion) – about 65% of the industry’s combined GDP output – and supporting 181,200 jobs. Film contributed KRW4,960 billion ($3.4 billion) and 77,800 jobs, while video-on-demand (VOD) added KRW3,500 billion ($2.4 billion) and 32,100 jobs. The industry also generated an estimated KRW7,170 billion ($4.9 billion) in total tax revenues. Notably, VOD workers demonstrated exceptional productivity, averaging KRW437 million ($297,000) in direct GDP contribution per head, which is roughly five times the national average of KRW92 million ($62,600). Television workers followed with KRW107 million ($72,800) per worker.

Looking ahead, the report projects VOD as the fastest-growing segment, with direct GDP and tax contributions expected to expand at approximately 7.4% and 7.2% annually through 2028, respectively. Conversely, film and television are forecast to experience modest contractions, reflecting a broader shift in audience consumption towards streaming and digital platforms. The proposed merger of local platforms Tving and Wavve, if finalized, could create Korea’s largest local streamer with around 9.3 million monthly active users, potentially enhancing their competitiveness against global players.

The international reach of Korean film and TV content has surged, with exports reaching KRW1.8 trillion ($1.2 billion) in 2024, nearly doubling the KRW899 billion ($612 million) recorded in 2019, representing a compound annual growth rate of 14.5%. This export figure surpassed Korea’s exports of beverages and spirits (KRW1.71 trillion/$1.16 billion) and railway locomotives (KRW1.39 trillion/$946 million). Broadcasting accounted for the majority of these exports, approximately KRW1.5 trillion ($1 billion), with animation and film making up the remainder. While Asia remains the primary market for Korean film exports (roughly two-thirds), North America and Europe have each grown to about 14% of the mix, driven by deeper platform partnerships, improved localization, and increasing international familiarity with Korean storytelling.

Beyond economic metrics, the cultural spillover into tourism is also significant. The report indicates that 38.3% of inbound tourists cited engagement with Korean Wave content as a motivation to visit Korea, up from 32.1% a year prior, making it the most frequently cited reason. A case study on the 2025 Netflix K-drama “When Life Gives You Tangerines,” set in Jeju’s fishing villages, illustrates this directly: following its global non-English chart-topping success, Jeju experienced year-on-year foreign visitor growth every month from April, with January–September arrivals reaching 1.74 million (up 17.5%). The Jeju Haenyeo Museum, featured in the series, saw foreign visits climb 58.9% to nearly 50,000 by November.

Industry leaders have lauded the sector’s impact. Charles Rivkin, MPA chair and CEO, stated that the report shows an industry delivering substantial economic value domestically while exporting creativity, culture, and innovation globally. Mila Venugopalan, president and managing director of MPA Asia-Pacific, emphasized that Korea’s success is built on strong creative talent, evidence-based policy, and international collaboration, serving as a model for other markets. Bo Son, managing director of MPA Korea, highlighted the industry’s combined domestic strength and global reach, impacting employment, exports, and long-term economic growth. Rep. Lim O-Kyeong of the National Assembly recognized the video content industry as a key driver of the national economy beyond the global spread of Hallyu, stressing the importance of data-driven analysis for future policy and regulatory improvements.

Efforts are also underway to bolster talent development. The Korea Creative Content Agency and the Ministry of Culture, Sports and Tourism have committed KRW43 billion ($29.3 million) under a 2026 roadmap to train approximately 3,400 professionals in AI, creative, and export-oriented roles. This program includes retraining 1,000 VOD specialists in planning and post-production in partnership with Netflix, and a flagship mentoring initiative for 300 aspiring creatives aged 19 to 34. MPA member studios, including Netflix, Paramount Pictures, Sony Pictures, Universal Studios, The Walt Disney Studios, Prime Video & Amazon MGM Studios, and Warner Bros. Discovery, maintain active collaborations with Korean producers, broadcasters, and distributors.

Despite these achievements, the report also identifies several challenges. Theatrical attendance has not fully recovered to pre-pandemic levels, the mid-budget segment of Korean cinema is contracting due to higher production costs and tighter margins, and an uncertain regulatory environment has dampened investor confidence. The study was commissioned to provide an evidence base for future policy design and to support the long-term competitiveness of South Korea’s audiovisual sector.