I have my theory just stating the same below. Feel free to lay down your theory below.
Ps. This is not specifically for any bollywood or k-artist. It's just a general observation
1. Koreans are promoting their culture, their language, their style/ lifestyle in the right way. They bring something that intrigues the world to the table. They have something for us to look forward to, to learn.
Whereas bollywood/tv is busy following Western culture/lifestyle/music/language. We don't offer them or ourselves anything new to be curious about. It's one of the most basic - intrigue the mind, capture attention - simple.
2. Artist represent society and vice versa
I ain't no fan of Korean Cancel culture, it's too harsh. However most artists as long as they are in business enjoy immense goodwill. The prerequisites they want their representatives to have is a clean image. They pride on clean images, people who survive on talent. It basically implies if you aren't a good person you will be "dethroned" till you mend ways or are proven not guilty. The society almost thrives in being called a society that doesn't take bullshit from their representatives in the name of freedom of expression just because they're artists. You cannot deny that this promotes a positive image about actors and inturn about Korean society that idolizes them. They don't put up with wrong behaviours. Period.
The celebs we worship do they represent us well? I don't think so. As a society we don't tolerate wrong,however if a celeb does it it's termed as okay. But is it really okay?
So, I do believe the major reason even western audiences acknowledged Korean dramas and music atleast initially is because it had that feel good factor. A welcome change after the negativity in the Western artistic formats too.
I love bollywood too but I can in no way turn a blind eye to it's shortcomings. Especially the current trend of negativity, lack of talent and originality is simply a turn off. The only way to revolutionize bollywood/dramas again is through talent, original scripts, lyrics and melodies.
In my case I craved for some talented people working on a simple romantic comedy, an intense drama, clean comedy, historical depicting history with some authenticity, a fantasy that makes me forget reality. But alas I grew tired of waiting expecting something like this from Bollywood so i shifted to Korean & chinese dramas/ music
All that said I do think we have immense talent in india we just aren't putting our best foot forward I.e. We aren't giving opportunity and scope/choosing the right people to showcase thier talent, to represent us correctly globally
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