Exploring economy by language: My ‘enlightening’ experience in South Korea

By monetizing language services, the country taps into a lucrative market, bolstering its economic output. Moreover, the provision of translation services creates employment opportunities for individuals proficient in both Korean and English, thereby stimulating job growth and economic development

My experience as a research Professor in South Korea (2018-2021) provided a fascinating window into the intersection of language and economic activity. Korean wasn't just a means of communication, but a force shaping the economic landscape. Throughout my tenure, I encountered numerous instances where language, particularly Korean, played a pivotal role in shaping economic activities, shedding light on the multifaceted ways in which language influences economic dynamics. One of the most striking observations during my time in South Korea was the ubiquity of Korean language in official documents and communications. Whether it was administrative paperwork or professional correspondence, Korean was the primary medium of communication.

However, for individuals like me, who required documents in English, a fee was often levied to facilitate translation services. This practice effectively transformed language into a commodity, with financial implications for both individuals and the broader economy.

The requirement to pay for document translation services not only reflects the economic value attributed to language but also contributes to the overall economy of South Korea.

By monetizing language services, the country taps into a lucrative market, bolstering its economic output. Moreover, the provision of translation services creates employment opportunities for individuals proficient in both Korean and English, thereby stimulating job growth and economic development.

Language plays a significant role in facilitating international mobility, especially when it comes to travel and healthcare. Even seemingly simple tasks, like obtaining a Covid-19 test result (RT-PCR) for travel, can highlight the importance of a shared language.

For example, if the report is only issued in Korean, travellers may need to pay for translation services to obtain an English version. This reliance on translation services underscores the broader impact of language on global interactions and the challenges of navigating different languages during cross-border movements. Beyond its economic implications, the language economy in South Korea also reflects broader cultural and linguistic considerations. Korean language, deeply intertwined with the country's cultural identity, serves as a potent symbol of national pride and heritage.

However, the increasing demand for English-language services reflects the country's growing engagement with the global community and the necessity of linguistic diversity in an interconnected world.

While the language economy presents numerous opportunities for economic growth and cultural exchange, it also poses certain challenges. Language barriers can hinder communication and accessibility, potentially impeding international cooperation and economic integration. However, by investing in language education and translation infrastructure, South Korea can harness its linguistic assets to foster innovation, entrepreneurship, and cross-cultural understanding.

India's language economy presents a double-edged sword. While brimming with potential for economic growth and cultural exchange, it also faces hurdles. Language barriers can disrupt communication, accessibility, and inclusivity, potentially hindering international collaboration and economic unity.

However, India isn't without solutions. By investing in language education, strengthening translation infrastructure, and promoting multilingualism, the country can unlock the true power of its linguistic diversity.

This can fuel innovation, entrepreneurial ventures, and foster a deeper understanding between cultures.

(The author is an Assistant Professor at DY Patil International University, Akurdi, Pune)