The primary goal of the economic policies of Korea is to expand its international fame in a number of markets in Korea to ensure the huge exports of Korean product, to induce number of FDI’s towards South Korea and to ensure that a large number of tourists move to Korea. Because of the industrial policies implemented in the past by WTO, where many policies have been banned by them, the Korean government can’t do much about the same. Because of the Korean Wave, the Korea can also take the advantage of the East Asian Nations. In the last few years, the Korean wave has been largely welcomed in a large number of nations. Because of the Korean wave, there are a large number of ways by which the target customers can be attracted.
This can help in the improvement in the economic conditions of Korea. Be it the culture, goods or the services, the target nations will consume more and more of these. This can be further intensified by the influence of the celebrities of Korea. Also, the government of Korea makes efforts to promote and spread Korean culture, Korean Standards and the brands of Korea. Some of the good nations where Korea can use its wave as a soft power in the efficient manner include USA, Japan, East Asian nations and other neighboring countries. One of the nations where South Korea can use the strategy of soft power is in Japan. It is a nation with a large market in terms of animation, games and a number of other cultures.
The government of Japan has been largely involved in creating these markets. With the help of this kind of strategy, Korea can have a long term influence over the markets of the target countries by the implication of the large market shares for the source country.Another important potential which Korea possess is by having the political and security related goals. By the mobilization of the international support for the collective actions, Korea can’t assume the role of global leadership. The government of Korea can easily play the role of a regional leader in a number of issues.