Oct 25, 2013

K-Pop Star Psy and Currency Swaps - Interesting Article on the Continued Ascent of "Brand Korea"

Reuters, in a new article co-written by Se Young Lee and Christine Kim, has made out yet another case for the impressive popularity of "Brand Korea."  Korea's government recently announced three currency swap deals worth more than USD 20 billion.  What makes things truly remarkable about all this is that Korea is able to couple its economic prosperity with cultural influence in Asia and, now, even North America.

The result, as we know, is a booming situation on the peninsula where the impression is that everything is going to continue to get better.

The article notes, amongst other things, that:
"[Korea] can easily afford to match cultural diplomacy with economic muscle as it competes with Japan and China for influence. K-Pop icons such as Psy, whose 'Gangnam Style' hit went viral in 2012, and even Korean food are used by Seoul to build South Korea's brand, while Samsung Electronics Co Ltd. and Hyundai Motor Co. are firms with global reach...."
That about sums it up, as far as I'm concerned.  Things definitely seem to be looking up on the Korean Peninsula.  If you'd like to read more, check out the full article below.
With Psy and Currency Swaps, South Korea Grabs Global Influence.
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Sean Hayes may be contacted at: SeanHayes@ipglegal.com.

Sean Hayes is co-chair of the Korea Practice Team and Entertainment, Media and New Tech Law Team at IPG Legal.  He is the first non-Korean attorney to have worked for the Korean court system (Constitutional Court of Korea) and one of the first non-Koreans to be a regular member of a Korean law faculty.  He assists clients in their contentious, non-contentious and business developments needs in Korea and China.