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Backed by the rise of K-pop and the effectuation of the Korea-EU Free Trade Agreement, Korean mobile phones have become the most popular product in the European market, according to the Korea Trade-Investment Promotion Agency.
The Korean Wave and the bilateral trade pact, in a combined score, have so far produced an economic effect equivalent to 1.58 trillion won ($1.37 billion), the state-run agency said Monday through a report.
The effect of the former was some 665.6 billion won, almost double that of the trade pact, which was about 392.1 billion won, it said.
The report was based on a survey conducted on citizens and experts in key European countries, such as Germany, France, the United Kingdom and others, in celebration of the second anniversary of the FTA, officials said.
The most visible influence was on Korea’s top seven consumer products, especially mobile phones, the report showed.
Korean mobile phones had the highest potential in the European market, as 61.8 percent of the respondents were acquainted with the products and 67.8 percent showed high preference for them.
Korean food, films and television dramas, too, are promising export items, he added.
“The corresponding items displayed a significantly higher preference rate than recognition rate, which means that those who have experienced them are likely to become sustainable users in the future,” said an official.
By Bae Hyun-jung (tellme@heraldcorp.com)
The Korean Wave and the bilateral trade pact, in a combined score, have so far produced an economic effect equivalent to 1.58 trillion won ($1.37 billion), the state-run agency said Monday through a report.
The effect of the former was some 665.6 billion won, almost double that of the trade pact, which was about 392.1 billion won, it said.
The report was based on a survey conducted on citizens and experts in key European countries, such as Germany, France, the United Kingdom and others, in celebration of the second anniversary of the FTA, officials said.
The most visible influence was on Korea’s top seven consumer products, especially mobile phones, the report showed.
Korean mobile phones had the highest potential in the European market, as 61.8 percent of the respondents were acquainted with the products and 67.8 percent showed high preference for them.
Korean food, films and television dramas, too, are promising export items, he added.
“The corresponding items displayed a significantly higher preference rate than recognition rate, which means that those who have experienced them are likely to become sustainable users in the future,” said an official.
By Bae Hyun-jung (tellme@heraldcorp.com)
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Articles by Korea Herald
