[K-wave] Overwhelming global impact of 'Squid Game' leaves future of Korean content in question

It's been around a month since the final season of Squid Game has been released and it has gained global popularity on par with previous seasons. In this next report we look at what significance and impact this has on Korea's content industry and what challenges lie ahead. Lee Eun-jin tells us more.

After becoming a global phenomenon, the Squid Game series has come to a close with its third season released on June 27th.

While opinions on Season 3 were mixed, the level of attention it received remained overwhelming.

"Season 3 was amazing. I started it the first night, and I finished it all in one go. I didn't take a break. I sat there through the whole series."

Squid Game marked a turning point in global perceptions of K-content.

This is because global demand for Korean-language content surged dramatically.

"The continued success of outstanding works, riding the Korean Wave, Hallyu, has proven to be a catalyst in expanding the presence of Korean content."

Following the massive parade that marched through downtown Seoul for the release of its final season, the actual-sized Young-hee and Chul-soo structures stood in Gwanghwamun Square. Various games and gift-winning events were held at the square, where people even tried out the jump rope game as featured in Season 3.

Despite the hot weather, the square was filled with both locals and tourists eager to join in.

"Jumping rope, trying out the prize activities, and actually experiencing what I had only seen on TV—doing it myself makes it feel more real and fun."

Squid Game also drew attention as a business model through its intellectual property.

In addition to snacks and stationery developed in collaboration with the retail industry, various spin-offs like mobile games and experience zones have generated significant revenue.

"We always want to first and foremost be able to provide the fan of the show with all the elements that they expect, and then surprise them."

Now, the big question is whether another work can reach the heights of Squid Game.

Director Hwang Dong-hyuk expressed his desire to take on risky, even potentially disastrous projects, emphasizing the spirit of creative challenge.

"It might be risky, but those anxiety-inducing, nerve-wracking projects create something that's truly new."

However, the reality for new creators in the content industry remains challenging.

There's still lack of opportunities that allow for investment in original content that carries risks.

"In film school, we were taught to make movies that reflect our unique voices. But once you enter the industry, the focus shifts away from personal style to marketability and commercial appeal "

Experts say that instead of repeating Squid Game's success formula, what's needed now is policy support and a collaborative system to enable the emergence of the next wave of innovative content.

Lee Eunjin, Arirang News.