South Korea
What was the surplus for Korea's services account in the first nine months of this year?
Gangnam Style
In 2012, the South Korean government announced that "Gangnam Style" had brought in $13.4 million to the country’s audio sector, and it subsequently launched a campaign to further expand the K-Pop music industry overseas. According to the Bank of Korea, the country's services account recorded a surplus of USD 2.3 billion in the first nine months of this year, compared to a deficit of USD 4.5 billion last year. This was mainly due to the growing influence and popularity of K-pop songs such as "Gangnam Style". However, the American journalist John Seabrook noted that by "satirizing standard K-pop tropes in Gangnam Style", Psy may have subverted the music genre's chances of making it big in the West.