South Korea
How much money did "Gangnam Style" bring South Korea by 2012?
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.