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S. Korea's Culture-Related Trade Surplus Expands

Written: 2015-11-16 10:12:47Updated: 2015-11-16 10:27:32

S. Korea's Culture-Related Trade Surplus Expands

South Korea's culture-related trade surplus, including television shows, music and movies, is expanding.
 
According to the Bank of Korea's balance of payments statistics on Monday, the audio and video service account posted a surplus of 191-point-two million dollars between January and September this year.
 
That is almost four times the surplus reached in the whole of last year, which was 49-point-three million dollars.
 
The audio and video service account includes income from overseas performances by entertainers in addition to income from movies, radio and television shows.
 
Therefore, a wider surplus signifies an increase in exports of Korean Wave cultural content and a decrease in payments for imports of foreign content such as movies.
 
A wider surplus in audio and video services is also expected to lead to two consecutive years of surplus in the individual, culture and leisure service account. 

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