Abstract
This chapter first summarizes the major characteristics of the New Korean Wave. It then considers whether we need to develop non-Western media theories to explain the rapid growth of local popular culture in the global markets or whether we have to apply and utilize current forms of these theories. It also discusses what we have to keep in mind in further studies on the Hallyu phenomenon in the midst of globalization, which will be a good case study for several other emerging local markets. It argues that producers in the Korean cultural industries need to develop the unique culture through the hybridization process. The Korean government and cultural industry corporations also play a key role in developing cultural policies and cultural products. By doing so, Korea will be able to make a compelling case for the growth of local popular culture and digital technologies in the global markets.
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