K-wave AI News

Hello and welcome to your AI guide to the latest cultural updates from Korea. Here's our top story.

Former NHN Corporation CEO Chae Hwi-young has taken office as Korea's new Culture Minister.

With extensive experience in journalism, online platforms, and travel tech entrepreneurship, Chae becomes the first private-sector expert to lead the Ministry of Culture, Sports and Tourism.

At his inauguration ceremony on Thursday, Chae pledged to usher in an era where the K-culture market will reach 300 trillion won, or around 215 billion U.S. dollars, in value by driving a "second leap" in Korea's content industry.

He vowed to boost K-content growth through expanded policy financing, tax incentives, and innovation in cultural technology, especially through the use of AI.

He also promised to transform Korea into a major tourism hub, with a goal of attracting 30 million international visitors.

More than 8.8 million foreign tourists visited Korea in the first half of this year, marking a 15% increase from the same period last year.

The figure represents around 105% of the 2019 level before the COVID-19 pandemic.

According to the Korea Tourism Organization, Chinese tourists accounted for the largest share, with over 2.5 million visitors, followed by those from Japan, Taiwan, and the United States.

The Ulleungdo Squid Festival, a signature summer event representing Ulleungdo Island in Gyeongsangbuk-do Province, will be held from Monday to Wednesday next week.

This year's festivities will be held across the entire island, centering on Jeodong, Cheonbu, and Namyang Ports.

The program focuses on immersive experiences that combine Ulleungdo Island's traditional culture with its unique maritime heritage.

Highlights include bare-hand squid-catching, scenic walks along the 'Hedam-gil trail,' squid dish tastings, and a market featuring local specialties.

A variety of live performances and an electronic music party are also planned, with a drone light show and large-scale fireworks set to light up the island's night sky.

That's all from me. Stay tuned to the Kulture Wave.