Hallyu in the Heart of Europe: The rise of the Korean Wave in the digital space

Abstract

Hallyu, the global cultural phenomenon that is also known as the Korean Wave affects its fans in terms of both their openness to Korean culture and their purchase intentions. Despite this, research into the psychological mechanism behind it is lacking. The aim of this study is to discover a) the relationship between Hallyu culture and the psychological factors associated with interpersonal relationships mediated through digital platforms; and b) the psychological factors that contribute to one's Korean Wave related purchase intention. The survey was conducted using an online questionnaire. Using a purposive sampling method, the core population of the survey consisted of Hallyu fans in Hungary, who were reached through various, Korean culture-specialised social media groups. Data from 495 eligible respondents was analysed using the PLS-SEM method with SMART PLS3 software. It can be concluded that fear of missing out (FOMO) and self-pressure to be member of fandom inspire presence in the online space, which can increase purchase intention towards K-goods, Results shows that the examined psychological elements have the greatest impact on two age groups (20-23 and 30-43 years old); however, due to its higher level of income and already established living circumstances the second group can respond to marketing activities to a greater extent. It has also been determined that the level of fandom involvement has a positive effect on purchase intention, something which can be further enhanced by FOMO and peer pressure. Based on the correlations identified, more effective marketing activities can be planned among fans through social media and influencers in fan groups.