Strategizing of the creative economy youth innovation ecosystem national brands (South Korean experience)

Abstract

National strategic brands are an indisputable competitive advantage for the reputation formation and attraction of investments within the whole country. Taking into account the geopolitical transformations, the departure of Western brands opens up unlimited strategic opportunities for the creation and popularization of domestic national brands.Main goal of the artickle is to identify the best foreign practice for creating a national brand on the South Korea example. In case of that K-pop cultural phenomenon and experience in the strategic development and the youth innovation ecosystem of the creative economy support strategic analysis is conducted. Based on the identified practice, a domestic national creative economy brand strategic priority was established. The article is based on the theory and methodology of strategizing developed under the scientific supervision of leadership of Foreign Member of the Russian Academy of Sciences, professor V.Kvint. The strategic success of the South Korean K-pop phenomenon (the experience of creative economy development) was partly made possible according to a stimulating state policyN — such a policy should include issues of stimulating entrepreneurship and innovation, reducing legislative barriers and improving the conditions for running business in the field of technology, cultural and creative industries. South Korea’s experience as a leader in the creative economy development expresses serious economic and social efficiency. The formed national brand has the power to influence not only the national market, but also the foreign one.