Culture could be South Korea’s biggest export. From the infectious beats of chart-topping K-pop groups to the cinematic brilliance of awardwinning films like Parasite, the Korean wave, or Hallyu, is sweeping across the globe, captivating audiences with its vibrant energy and enchanting storytelling, The Guardian writes.South Korea’s emergence as a cultural superpower is a testament to its remarkable transformation over the decades, evolving from a nation known primarily for cars and electronics to a global hub of creativity and innovation.

The global appetite for all things South Korean remains insatiable. K-pop dominates the charts, while groundbreaking shows like Squid Game captivate audiences worldwide. This cultural wave has prompted a Korean “gold rush ” in Western studios, with Netflix leading the charge with a USD 2.5 bn investment in South Korean projects. Even the BBC is getting a slice of the Korean Wave, launching a series like the GangnamProject that explores the journey of becoming a K-pop superstar.

Behind this cultural explosion lies a mix of government support and private sector ingenuity. Initiatives from the Culture, Sports, and Tourism Ministry have nurtured talent and facilitated the export of cultural products, while private enterprises have thrived with government backing. From the secrets of K-beauty to the flavors of K-food, South Korea’s cultural exports are booming, with local and international sales reaching a high of USD 52.8 bn in the first half of 2023 — and is expected to expand.

However, this cultural success story is not without its challenges. Issues like fair funding distribution alongside controversies surrounding mental health and exploitation have cast shadows on the industry. Yet, the Korean wave continues to evolve and expand, with growing international interest in Korean language and literature.

Is “the halving” driving BTC’s surge? There are as many theories about what has driven BTC north of USD 72k as there are pundits talking up the asset class, but one theory gaining a lot of currency in recent days attributes it to “the halving.”

Uh, Enterprise? What the [redacted] are you talking about? “The halving” (BTC bulls insist it is “The Halving, a proper noun) is a mechanism built into the currency designed to control the supply of new coins — effectively ensuring it remains valuable.

How it works: BTC has a built-in limit of 21 mn coins. The halving is a programmed event (architected by BTC’s pseudonymous creator, Satoshi Nakamoto) that cuts the reward for miners in half, roughly every four years, thus controlling supply and making it hard to hit 21 mn coins in circulation (cf: Zeno’s Paradox).

It’s happened before: When BTC was first introduced, the reward for mining a block (IYKYK) was 50 BTC. The reward dropped to 25 BTC in 2012 (the first halving), then to 12.5 BTC in 2016, and to 6.25 BTC in 2020.

Why is it important? The idea is that the halving makes it less attractive for “miners” to make BTC, thus slowing its production and putting a floor under the price — kind of like OPEC+ output cuts designed to make sure oil remains expensive.

When will the “halving” happen? Nobody knows for sure, but most likely in April, it seems.

How is it impacting price? Some pundits think the prospect of tighter supply going forward is behind BTC breaking the USD 72k barrier for the first time a few weeks back.

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