If I may quote "Mr. Ramstad" (got to love that level of formality):
Mr. Russell says the growth of South Korea's entertainment industries is a function of economic development that has left more Koreans with the time and resources to become pop-culture "consumers." To a lesser extent, he credits technology changes that reshaped distribution and a receptivity to new cultural products bound up in the globalization of trade over the past two decades. In short, the talent has been there all along and the time finally became ripe for it to flourish as a business.
Mr. Russell's book is the first by a non-Korean to explain the rise of Korea's entertainment industries. With lots of pictures, lists (top TV shows, most expensive movies, worst flops) and sidebar articles, the book could hardly be more approachable.
Anyhow, be sure to check out Evan's story. And if it inspires you to pick up a copy of POP GOES KOREA, you can find it on Amazon.com here.
UPDATE: The Korean newswire Yonhap, which always likes to report on the big-time international papers when they report on Korea, has picked up the story, too.