"Consumer Goods Exports Increase by 270 Billion Won Due to Son Heung-min... Equivalent to Exporting 9,800 Passenger Cars"

Our soccer 'flagship star' Son Heung-min (Tottenham) generated an effect of increasing consumer goods exports by 270 billion KRW last year, according to a research result. This is equivalent to exporting about 9,800 passenger cars.

The Hyundai Research Institute analyzed this in a report titled 'Economic Effects of Big League Sports Stars' released on the 20th.

Looking at the recent growth rate of South Korea's consumer goods exports, it showed a growth trend of 8.0% last year and 17.1% in the first half of this year. Among these, the shares of direct consumer goods (such as food) and nondurable consumer goods (such as clothing and cosmetics) expanded from 4.3% and 10.9% respectively in 2005 to 10.2% and 17.3% in the first half of this year, diversifying the product categories.

Son Heung-min [Image source=Yonhap News]

In particular, with players who recently advanced to big leagues such as Son Heung-min, Hwang Hee-jo (Nottingham), and Hwang Hee-chan (Wolverhampton) gaining attention, the institute analyzed that consumer goods exports increased significantly based on Son Heung-min.

According to the institute, Son Heung-min's contribution to consumer goods exports is estimated at about 0.24 percentage points, based on his annual awareness growth rate (0.5 percentage points) and the rate at which national awareness converts into product usage (48.7%). Applying this to last year's consumer goods export amount (about 110.963 trillion KRW), the consumer goods exports generated by Son Heung-min in one year are estimated to be about 270 billion KRW.

Specifically, exports of direct consumer goods, durable consumer goods, and nondurable consumer goods increased by 31 billion KRW, 186 billion KRW, and 53 billion KRW respectively.

Additionally, the effect of Son Heung-min's increase in consumer goods exports is calculated to induce about 590 billion KRW in production throughout the economy. The induced value-added effect is predicted to be about 184 billion KRW.

The institute added that the economic effect based on the average contract period (5 years) with Son Heung-min's team is estimated to reach an export increase of 1.305 trillion KRW and a production inducement amount of 2.95 trillion KRW.

This content was produced with the assistance of AI translation services.