Over the past decade, the influence of Korean culture on the beauty industry has been undeniable. From multi-step skincare routines to double cleansing and the latest and most advanced SPF formulations, the popularity of K-beauty and its influence on beauty trends around the world have reshaped consumer expectations and preferences—but this phenomenon isn’t limited to just beauty. Hallyu, also known as the Korean Wave (or K-wave), describes the influence of South Korean pop culture on consumers in other parts of the world. New research indicates that the K-wave shows no signs of slowing down. According to TikTok and analytics company Kantar, global spending on Korean cultural products is predicted to nearly double in size to over $143 billion by 2030.The current market size of Hallyu is estimated to be around $76 billion, driven by the rapid increase of K-beauty, K-food, and other various K-content on social media platforms like TikTok. Consumers who are highly interested in the K-wave but have yet to make their first K-wave-related purchase represent an additional $95 billion opportunity. Businesses that ride the K-wave could be part of a $198 billion opportunity by 2030, propelled by continued and increased spending from current spenders, as well as the conversion of interested individuals to active spenders. “With the advent of K-wave, international consumers already have a foundational understanding and appreciation of Korea and its brands,” says AmorePacific Group CMO Jungyeon Kim. “The Korean culture is present on various commerce platforms such as Amazon, Lazada, TikTok Shop, making overseas markets far more accessible for Korean brands today.