S.Korea minister hopes Gangnam Style can spur service sector

MEXICO CITY Mon Nov 5, 2012 1:11pm IST

South Korean singer Psy of dance hit ''Gangnam Style'' signs a guest book while he attends a meeting with U.N. Secretary-General Ban Ki-moon during a photo opportunity at the U.N. headquarters in New York October 23, 2012. REUTERS/Eduardo Munoz

South Korean singer Psy of dance hit ''Gangnam Style'' signs a guest book while he attends a meeting with U.N. Secretary-General Ban Ki-moon during a photo opportunity at the U.N. headquarters in New York October 23, 2012.

Credit: Reuters/Eduardo Munoz

MEXICO CITY (Reuters) - The viral global success of South Korean pop singer Psy's "Gangnam Style" video stems from the "three C's" -- a combination of virtues that Seoul's finance minister says can spur the country's traditionally sleepy service sector.

"Cooperation, competition and creativity -- these three Cs are the factors of Gangnam Style's success," Finance Minister Bahk Jae-wan said.

The intricate group dances in "Gangnam Style" required cooperation, success in the K-pop scene was the result of fierce competition, and the whole process reflected great creativity, Bahk told Reuters in the Mexican capital.

Psy's song "Gangnam Style," which mocks the consumerism of a rich Seoul suburb and features a horse-riding-style dance, went viral on video-sharing website YouTube.

It has been viewed more than 530 million times on YouTube since it was released in mid-July -- inspiring scores of horse dance tributes and parodies around the world.

Bahk said he hopes South Korea, an industrial powerhouse whose films, TV soap operas and pop music have found a wide world audience in the past decade, can coax another C from the "Gangnam Style" phenomenon -- competitiveness in the service industry.

"Korea traditionally has had strong competitiveness in the manufacturing sector, but very weak competitiveness in the service industry," he said.

"Gangnam style gives us hope for the service industry's competitiveness." (Reporting By Paul Eckert; Editing by Chizu Nomiyama)

REUTERS SHOWCASE

Nifty Above 8,600

Nifty Above 8,600

Nifty hits record high above 8,600; state-run lenders gain  Full Article 

Indian in Iraq

Indian in Iraq

India says no contact with 39 men held by Islamic State in Iraq.  Full Article 

Sahara Issue

Sahara Issue

Sahara looks to raise $650 million loan to fund bail.  Full Article 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster.  Full Article 

Essar Group

Essar Group

Exclusive - Essar's planned oil-for-steel deal tests Iran sanctions  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

Oil Prices

Oil Prices

Oil hits new four-year low post OPEC as glut looms  Full Article 

Gold Imports

Gold Imports

India eases gold import rule in surprise move.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage