10: Sport Market Value Network in Korea

The industrialization of sport is one of the most important keywords for understanding the late 20th century’s and forthcoming 21st century’s sport phenomena. It has accelerated along with the break-up of cold war in the late 20th century, the globalization of economy, the emergence of multiple forms of media, and the advent of information society. Unlike the cold war era where sport development was led by the government, the market has emerged as a main driver of sport phenomenon. In today’s world, the sport has created a huge value network: media want sport’s contents value, firms pursue sport’s media value, federal and local governments chase sport’s economic and social values, and the general public needs sport’s entertainment and welfare values. This value network is boosting industrialization with the influx of capital (Kang, 2005).