The K-Drama Paradox: Global Hits, Local Struggles. Why does the worldwide success of Squid Game and The Glory not lead to the financial stability of their creators? Why are Korean production companies getting poorer while their content conquers the global charts? In this sharp and incisive industrial critique, Haum Bae dissects the structural paradox of the modern "Hallyu" (Korean Wave). Moving beyond the glitz and glamour of the red carpet, this report uncovers the cold reality of "Globalization Without Accumulation"—a phenomenon where fame spreads globally, but industrial power and wealth fail to take root at home. In this 58-page executive report, you will discover: The IP Trap: How the current global distribution model strips local producers of their long-term growth potential. Structural Fragility: Why "Success" for an individual creator often means "Burden" for the production organization. The Future of K-Content: A provocative manifesto on how the industry must pivot to survive the next decade of global competition. Globalization Without Accumulation is an essential read for media professionals, investors, researchers, and anyone who wants to understand the hidden mechanics of the world's most influential content industry. Stop looking at the glittering surface. It's time to see the iceberg beneath.