Previous policy approaches on Hallyu have been focused on the role of government engagement, particularly in fostering diversity and equal business opportunities for small-and-medium enterprises (SMEs). However, a more strategic approach to the cultural industries should be implemented by carefully examining the role of the private sector, particularly the role of large enterprises (LEs). This is important because LEs have an overarching and fundamentally differentiated role in increasing the size of industry through their expansive value-creating activities and diversified business areas. This study focuses on the complementary roles of SMEs and LEs in facilitating the growth of Hallyu by bringing in the perspective of value chain diversification and the modified value chain framework for the film industry. By conducting a comparative analysis of the global entertainment firms in the US, China, and Japan, this study reveals how LEs in the global market enter and explore new industries within culture and continue to enhance their competitiveness. By forming a business ecosystem through linking their value-creating activities as the platform of network, this study looks into the synergistic role among enterprises of different size and scale and suggests that Korea’s policy for Hallyu should reorient toward a new growth strategy that encourages the integrative network of firms where the value activities of LEs serve as the platform for convergence.


cultural policy, entertainment industry, growth strategy, Hallyu, platform, value-creating activities

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Kritika Kultura
Department of English
School of Humanities
Ateneo de Manila University

The Philippine Commission on Higher Education (CHED) declares Kritika Kultura as a CHED-recognized journal under the Journal Challenge Category of its Journal Incentive Program.

International Board of Editors

Jan Baetens
Faculty of Arts
Katholieke Universiteit te Leuven (Belgium)

Joel David
Professor of Cultural Studies
Inha University (South Korea)

Michael Denning
Professor of American Studies and English
Department of English
Yale University (US)

Faculty of Cultural Sciences
Universitas Gadjah Mada (Indonesia)

Regenia Gagnier
Professor of English
University of Exeter (UK)

Leela Gandhi
John Hawkes Professor of the Humanities and English
Brown University (US)

Inderpal Grewal
Professor of Women's Gender and Sexuality Studies
Professor of South Asian Studies, Ethnicity, Race and Migration Studies
Yale University (US)

Peter Horn
Professor Emeritus and Honorary Lifetime Fellow
University of Cape Town (South Africa)
Honorary Professor and Research Associate in German Studies
University of the Witwatersrand (South Africa)

Anette Horn
Professor of German Studies
University of the Witwatersrand (South Africa)

David Lloyd
Distinguished Professor of English
University of California, Riverside (US)

Bienvenido Lumbera
National Artist for Literature
Professor Emeritus
University of the Philippines

Rajeev S. Patke
Director of the Division of Humanities
Professor of Humanities
Yale NUS College (Singapore)

Vicente L. Rafael
Giovanni and Amne Costigan Endowed Professor of History
University of Washington (US)

Vaidehi Ramanathan
Department of Linguistics
University of California, Davis (US)

Temario Rivera
Professorial Lecturer
Department of Political Science
University of the Philippines

E. San Juan, Jr.
Philippines Studies Center (US)

Neferti X.M. Tadiar
Professor of Women’s, Gender, & Sexuality Studies
Barnard College (US)
Director of the Center for the Study of Ethnicity and Race
Columbia University (US)

Antony Tatlow
Honorary Professor of Drama
Trinity College Dublin (Ireland)