The purpose of this study is to analyze the success factors for the sensational popularity of Squid Game in markets overseas. To this end, we observed the background of the existing Korean Wave and the characteristics of K-content (K-drama, etc.) and ...
The purpose of this study is to analyze the success factors for the sensational popularity of Squid Game in markets overseas. To this end, we observed the background of the existing Korean Wave and the characteristics of K-content (K-drama, etc.) and looked at cases of K-content that have been successful worldwide. In addition, after examining the overall content and background factors of the squid game, we divided the success strategy of the squid game into storytelling, art, and specificity and analyzed. As a result of the analysis, the mass production and consumption of cultural contents due to replication technology and the global spread of COVID-19 (COVID-19, hereinafter referred to as COVID-19) created an environment where people can access cultural contents via various platforms in multiple ways. This is why Squid Game in the information age have differentiated themselves from countless contents so far. First, storytelling based on social inequality and unfairness of Squid Game proves the global and realistic universality applicable not only to Korea but also to North American and Western European markets. Second, the contrast of colorful costumes and the use of the set provides viewers with an opportunity to increase immersion in the play and think about the implied meaning. Third, the set, which is inspired by Korea's traditional games and Korean neighborhoods, incorporates Korean characteristics well. Fourth, distribution through global OTT (Over-the-top, online video streaming service) Netflix was able to easily spread across language barriers around the world. The success of the squid game can be seen as having a significant Korean narrative throughout the world and being able to enter the U.S. market through a huge platform called Netflix. However, although the worldwide success of the squid game must be a welcoming news, people around the world will now expect Korean cultural content with higher standards and expectations. Therefore, through the analysis of Squid Games' strategies and success factors, we hope that K-content will continue to develop in the global market in the future and further help Korea continue to create new innovations that will become a cultural industry powerhouse.