Live from South Korea — Steve Jang on Korea’s Exploding “Soft Power,” The Poverty-to-Power Playbook, K-Pop, “Han” Energy, Must-See Movies, Export Economies, and Much More (#707)
Illustration via 99designs“For Koreans, han can be a drive to do great things, to bond together, to understand each other, to empathize. But it can also just be anger and K-rage which, channeled correctly, allows you to build an entire industry and succeed on the global level to create pop culture phenomenons that win Grammys, and movies that win Oscars, and light up the world to what’s happening in this little country that used to be poor, that was broken after colonization and a war.”
— Steve Jang
Scroll down to the show notes section to see Steve’s must-see Korean movies and must-do things in Seoul.
Steve Jang (@stevejang) is the founder and managing partner at Kindred Ventures, an early-stage venture capital fund based in San Francisco. He is also a longtime friend and one of the founder-now-investor generation of VCs that arose out of the last technology cycle. Steve is one of the top 100 venture capital investors in the world, according to Forbes Midas List of top venture capital investors, and was ranked #45 in 2023. He is also a Korean-American, a gyopo, who is deeply invested and involved in both the technological and cultural worlds in the US and Asia.
Previously, Steve was an early advisor to, and angel investor in, Uber, and then an early-stage investor in Coinbase, Postmates, Poshmark, Tonal, Blue Bottle Coffee, and Humane, the AI device platform. He helped Uber, Coinbase, and Blue Bottle Coffee, among others, to expand into Korea and Japan. As an entrepreneur, Steve co-founded companies in the consumer internet, mobile, and crypto space.
In the film and music world, he is an executive producer, and his most recent film is Nam June Paik: Moon Is the Oldest TV, which tells the story of the greatest Korean artist, and father of digital video art, and which premiered at the Sundance Film Festival in 2023. His next film is a documentary about Vitalik Buterin, the creator of Ethereum.
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Listen onApple Podcasts[image error]Listen onSpotify[image error]Listen onOvercast#707: Live from South Korea — Steve Jang on Korea’s Exploding “Soft Power,” The Poverty-to-Power Playbook, K-Pop, “Han” Energy, Must-See Movies, Export Economies, and Much MoreThis episode is brought to you by Nordic Naturals, the #1-selling fish-oil brand in the US! More than 80% of Americans don’t get enough omega-3 fats from their diet. That is a problem because the body can’t produce omega-3s, an important nutrient for cell structure and function. Nordic Naturals solves that problem with their doctor-recommended Ultimate Omega fish-oil formula for heart health, brain function, immune support, and more. Ultimate Omega is made exclusively from 100% wild-caught sardines and anchovies. It’s incredibly pure and fresh with no fishy aftertaste. All Nordic Naturals’ fish-oil products are offered in the triglyceride molecular form—the form naturally found in fish, and the form your body most easily absorbs.
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Want to hear another episode featuring a gyopo? Listen to my conversation with streetwear artist Bobby Hundreds in which we discussed his double life as a parent-pleasing law student and clandestine artist, collaboration over competition, rolling with the tides of fickle fashion, necessary disconnections, subcultural security, hermit north stars, and much more.
#671: Bobby Hundreds — Building an Iconic Streetwear Brand, Making $7 Million in 40 Minutes, The Power of Garfield, Why Korean Entertainment is Taking Over the World, Maintaining the Mystery, The Fickleness of Fortune, and Developing “Nunchi”What was your favorite quote or lesson from this episode? Please let me know in the comments.
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SELECTED LINKS FROM THE EPISODEConnect with Steve Jang:Kindred Ventures | Twitter | Instagram | Threads | LinkedIn
Steve’s Top “Must-See” Korean Movies:
OldboyThe WailingThe HandmaidenMemories of MurderParasiteBurningMinariBroker (2022)Joint Security AreaSteve’s “Must-Do” Things in Seoul:
Walk and explore the old town areas of Samcheong, Insa, and Hongdae. Meander around these hills and small streets and alleys full of small shops, cafes, and tea houses.Headbob or dance with local folks at small DJ bars in Hongdae or Itaewon. Favorites are Cakeshop, Hills and Europa, and Gopchang Jeongol.Eat at a Hanwoo beef specialty restaurant. Hanwoo is the Korean version of Wagyu.Check out small art galleries, craft boutiques, and large museums including the Leeum. The artist community in Korea is a core element of Korean society, in historical, counterculture, and fine art spheres.Eat lunch in the food court of a major department store like Hyundai, Galleria, or Shinsegae. Completely different quality than what you’d expect in the US.Exercise at the outdoor park by the Han River. The colder the weather, the better.Get Tongdak (Korean fried chicken) and beer. If you aren’t eating next to taxi drivers and ajummas, then it’s not OG.Explore Dongdaemun Market, the largest independent fashion designer marketplace in the world.Go out for cocktails, makkoli (fermented soybean liquor), and karaoke (which is called “noraebang” in Korean) in Apgujeong, the cool kid area of Gangnam.Sign up for a K-pop boot camp for three months and pay to learn how to sing, dance, and dress to be in the next BLACKPINK or BTS.Nam June Paik: Moon Is the Oldest TV | Prime VideoPast Lives | Prime VideoHallyu (Korean Wave) | Korea.netK-Everything: The Rise and Rise of Korean Culture | The GuardianFull History of Korea in Five Minutes | History on MapsKorean Diaspora | WikipediaSouth Korea’s Complicated Embrace of Gyopo | Los Angeles TimesBlade Runner | Prime VideoKorea First to Protect Robot Rights | WiredSeoul Hopes to Start Flying Taxis in 2025 | Chosunilbo AMPKorea: From Hermit Kingdom to Colony | Association for Asian StudiesVan Nuys Senior HighYour All-in-One Hangul Guide | 90-Day KoreanWhat’s Behind Japan and South Korea’s Latest Attempt to Mend Ties? | United States Institute of PeaceNine Things You Should Know About Christianity in Korea | TGCConfucianism | National GeographicIntroduction to the Cultural Revolution | FSIThriving on Anxiety: Korea’s Multibillion-Dollar Hagwon Industry | Korea HeraldPachinko by Min Jin Lee | AmazonA Uniquely Japanese Take On Nostalgia | BBCSaudade: An Untranslatable, Undeniably Potent Word | alt.latinoBizarro World | WikipediaStranger Things | NetflixThe Upside Down | Stranger Things WikiHow to Say “No” In Japanese? It’s Harder Than You Think | Japan DevYakuza: Like a Dragon’s Punch Perm Is a Tough-Guy Look with a Wild History | InverseFamilies Divided by War in North and South Korea Reunite | CBS MorningsThis News Broadcast Reunited 10,189 Families Separated by War | The EthnographerThe Korean War | AP US History Study Guide from The Gilder Lehrman Institute of American HistoryAn Unpromising Recovery: South Korea’s Post-Korean War Economic Development: 1953-1961 | Association for Asian StudiesThe Host (English Subtitled) | Prime VideoWhat Are Chaebol Structures in South Korea? | InvestopediaSouth Koreans Push for Promised Chaebol Reforms | Financial TimesSquid Game | NetflixPhysical: 100 | NetflixAmerican Gladiators (1989 TV Series) | WikipediaThe Hunger Games | Prime VideoBLACKPINK at Coachella: Group Thanks Fans for Supporting Historic Set | Rolling StoneVenture Capital | InvestopediaPaving the Path to Soft Power: Crucial Moments in South Korea’s Cultural Policies | Wilson CenterManga Answerman: How Do Censorship Rules Work for Hentai? | Anime News NetworkHow the Beanie Baby Craze Came to a Crashing End | HistoryNaruto | Prime VideoWu-Tang ClanBackstreet BoysThis Is Spinal Tap | Prime Video“These Go to 11.” | Spinal TapK-Pop Trainee Program | ACOPIAThere’s a Uniquely Korean Word for Rage and Regret. So Why Had I Never Heard of It? | CBC Radio“Chips on Shoulders Put Chips In Pockets” | Josh Wolfe, TwitterThe Uniquely Korean Concept of Jeong (정/情) | Knowing KoreaWhat Is ‘Nunchi’, the Korean Secret to Happiness? | The GuardianOmotenashi : The Philosophy of Japanese Hospitality | TOKISouth Korea Has the Lowest Fertility Rate in the World – And That Doesn’t Bode Well for Its Economy | The Conversation1997 Asian Financial Crisis | Federal Reserve HistoryHow Gold Rode to the Rescue of South Korea | ForbesIs Korea’s College Entrance Exam Too Difficult? | Korea HeraldGwageo: Gateway to Success in Joseon | Korea HeraldEsports in Korea: Guide to Korean Gaming Culture | SeoulzLeague of LegendsThe Korean PC Bang: Everything to Know Before You Go! | The Soul of Seoul10 Popular Korean Cosplayers | KPOP Webmagazine LVKM+WoldHow Ugg Boots Became Fashion’s Hottest New Shoe — Again | Vogue‘Squid Game’ Has Transformed What It Means to Go Viral | ProtocolHollywood Relies on China to Stay Afloat. What Does That Mean for Movies? | NPRI Only Work 4 Hours by Timothy Ferriss (Korean Edition) | AmazonRyanair: The Full Story of the Controversial Low-Cost Airline by Siobhan Creaton | AmazonMaking Commerce Better for Everyone | ShopifyThe Story of Uber | InvestopediaTalk To Me In Korean Level 1 | AmazonReal-Life Korean Conversations For Beginners | AmazonWhy Do Some French People Dislike It When You Try to Speak Their Language? | QuoraThe Free, Fun, and Effective Way to Learn a Language | DuolingoThe Natural Way to Learn a New Language | The Michel Thomas MethodLearn to Read Korean in 15 Minutes | Ryan EstradaPowerful, Intelligent Flash Cards | AnkiLearn Fast and Remember Forever | SuperMemoThe Language Master: A Film about Michel Thomas | Michel Thomas MethodOne Piece Wiki | FandomDragon Ball ZGame of Thrones | HBOGame of Thrones Tour in Dubrovnik, Croatia | King’s Landing DubrovnikFour Apps You Need in Korea: Naver Map, Kakao Map, Google Maps, Subway | Your Korea FriendNaver MapKakao MapWeChatWhat Is K-Beauty and Why Is It So Advanced? | CoveteurHistory | SuntoryGangnam Style | PsyTeheran-ro : The Venture Capital Mecca of Korea | InvestKOREASouth Korean LLM War Intensifies to Fend Off ChatGPT | KED GlobalNuclear Tensions Escalate Dangerously on Korean Peninsula | ICANDon’t Hold Your Breath for Korean Reunification: Five Problems | TimeWho First Said ‘Long Time, No See’ and in Which Language? | Code SwitchHow to Order and Eat Korean BBQ | ThrillistKimchi | WikipediaHammer Stahl Kitchen Scissors | AmazonBattle of the Sauces at the Get Sauced SXSW Pool Party | Eater AustinBenuRestaurants, Products, Nationwide Shipping | MomofukuSouth Korea’s Archery Invincibility Explained | Land of LegendsSundance Film FestivalTV Buddha by Nam June Paik | National Gallery SingaporeElectronic Superhighway: Continental U.S., Alaska, Hawaii by Nam June Paik | Smithsonian American Art MuseumFive Times Artist Nam June Paik Predicted the Future | TateNam June Paik Videos | YouTubeHe5 and He6 | Psychedelic Rock ‘n’ RollJingle Bells / In-A-Gadda-Da-Vida (1969) by He5 | YouTubeLittle House on the Prairie: The 10 Darkest Episodes, Ranked | Screen RantRammsteinR-16 Korea National Championships | WikipediaHomemade Mandu (Korean Dumplings) | Beyond KimcheeSHOW NOTES[09:37] Why has Korean culture been globally overlooked until recently?[13:36] In Seoul, the future is now.[17:23] Gyopo and the Korean diaspora.[19:15] Modern relations between South Korea and Japan.[21:07] Christianity and Confucianism in South Korea.[23:17] The intensity of Korean (including gyopo) hagwons.[25:46] Why Steve finds Min Jin Lee’s Pachinko particularly moving.[28:07] Japanese nostalgia.[29:25] Seoul: the Bizarro Tokyo?[39:49] Generations of Korean families traumatized by North/South separation.[44:32] Class struggle and cultural dichotomy in Korean cinema and literature.[50:22] Activism in a chaebol-dominated landscape.[54:25] How Korean culture resonates on a universal level.[56:50] How big money finances the artistic class struggle against big money.[59:57] Is the K-wave a fad, or is it here to stay?[1:05:24] Getting a handle on the untranslatable han.[1:08:13] Jeong and nunchi.[1:14:38] What will it take to remedy South Korea’s disastrously low birth rate?[1:25:05] Why I’ve been so fascinated by the K-wave.[1:36:02] How I’ve been learning the Korean language.[1:47:04] Why so many Japanese women visit Korea.[1:47:57] The lucrative power of Korea’s export economy.[1:52:07] Why the main road in Gangnam is named after the capital of Iran.[1:54:19] The real reason Steve believes South Korea is so industrious on multiple fronts.[1:58:02] How learning just 10 sentences in another language can fundamentally change your experience.[2:00:28] Korean food![2:09:35] The unforgivable insult of leaving food uneaten.[2:11:25] Why you owe it to yourself to see Nam June Paik: Moon Is the Oldest TV.[2:17:46] Why you owe it to yourself to listen to “In-A-Gadda-Da-Vida” by Korean psych rock band He5.[2:18:15] How gyopo influence on the arts bypassed home censorship policies.[2:24:20] Why you owe it to yourself to visit Seoul sooner rather than later.[2:26:30] Parting thoughts.MORE STEVE JANG QUOTES FROM THE INTERVIEW“The North and South Korean governments at certain times, when they get along, they’ll try to do some great olive branch moves to reunite families. And they had the TV station film it, and they set up a whole area and they brought buses down. And it turned out to be not cathartic at all, but reopening pain.”
— Steve Jang
“Class struggle is the theme of so many [Korean] movies, books, TV series. It’s the suffering and the struggle to move out of their condition, and that society and the upper crust of society won’t allow it. This tension is in music, it’s in movies, it’s in literature, it’s in TV shows, it’s all around. And you might say, ‘Oh, no, it’s around every country.’ Sure it is. But it’s really strong and consistent in Korean movies and literature.”
— Steve Jang
“Han is probably the most talked-about collective trait of Koreans. What it essentially boils down to is this idea of collective suffering that the Korean people have through history, and manifests in this very complicated feeling of we are suffering and we share that pain with each other, but it’s somehow not always a negative. It can sometimes drive us to express ourselves in strong ways. It can drive us to suffer together collectively.”
— Steve Jang
“For Koreans, han can be a drive to do great things, to bond together, to understand each other, to empathize. But it can also just be anger and K-rage which, channeled correctly, allows you to build an entire industry and succeed on the global level to create pop culture phenomenons that win Grammys, and movies that win Oscars, and light up the world to what’s happening in this little country that used to be poor, that was broken after colonization and a war.”
— Steve Jang
“There is this accelerated sense of ‘We must achieve something tomorrow because we’re already behind.’ That is a very Korean mentality.”
— Steve Jang
“Tomorrow is not guaranteed for South Koreans. There’s a well-understood tension with North Korea that at any moment this could all be over.”
— Steve Jang
“Of all the cultural exports, Korean food is the most important one.”
— Steve Jang
“You get a thousand points of credit from any Korean if you try to speak the language. They love it. It’ll smooth all rough edges on anything that you’re talking about with them if you at least try.”
— Steve Jang
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