Translating Hallyu Phenomenon and its Underlying Impact in the Purchasing Intentions of Filipinos

Abstract

The Korean Wave is playing a huge role in the decision-making of customers when purchasing different products and services. This also asks the question of whether this phenomenon is really starting to pave the lives of every Filipino as it becomes the standard when buying food, clothing, media, and the like. The drive to the transition of preferring Korean products over Filipino ones is widely seen in the Philippines. The objective of this paper is to determine the impact of the Korean wave on the purchasing intentions of Filipino consumers in terms of frequency, volume, and amount to spend. This Hallyu consists of their trends, personalities, the strategy of Korean entertainment, and the image and popularity of their culture. Multiple Linear Regression (MLR) will help analyze the relationship between the various variables, therefore predicting how the factors will affect the purchase intentions of Filipinos. Results show that the popularity of Korean culture is the indicative factor on the increase of frequency, volume, and amount to spend by Filipinos in purchasing Korean products. Trends and standards also come up because of their iconic creations that spread throughout the country. The paper is intended to fill the gap in this field to help businesses, advertisers, and marketers cope with this phenomenon.