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South Korea's trade surplus in the media content sector surpassed the US$500 million mark for the first time ever last year, on the back of increased overseas sales of popular movies, music and TV drama series, data showed Monday.
The trade surplus in sound and image services amounted to $513 million last year, growing by more than two-fold from $245 million in the previous year, according to data by the Bank of Korea (BOK).
It is the largest amount tallied since the BOK began to compile the related data in 2006.
The trade balance in this segment mainly refers to the import and export of key media content, ranging from TV programs, movies, musicals and income by Korean pop stars in offshore markets.
The figure hit a deficit of $3.8 million in 2013, before swinging to a surplus of $84 million in 2014, the BOK data showed.
South Korea bagged a surplus of $817 million in the sector in 2016, jumping 40.6 percent from a year ago, while imports shrank 8.7 percent to $307 million on-year in the same period.
Industry watchers remained doubtful, however, as to whether the country would be able to keep logging a surplus down the road, given the jittery environment stemming from heightening diplomatic tension with China in the wake of the South Korean government's decision to install a U.S. missile defense system on its soil.
The decision to install the Terminal High Altitude Area Defense, or THAAD, against North Korea's evolving missile capabilities has sparked strong opposition from Beijing.
Some experts have expressed concerns that the decision could put a drag on the local entertainment business abroad, known as the Korean Wave or Hallyu.
Since Seoul made the decision on THAAD last July, some media entertainment firms suffered setbacks as some of their shows scheduled in China were canceled.
(Yonhap)
