Found 2 pretty good materials about hallyu:
Where does the word hallyu come from?
The origin of the term is not sure: https://en.wikipedia.org/wiki/Korean_wave
Some say it comes from the Japanese word ryu (流) as a postfix to refer to ‘～way’, ‘~style’, ‘～group’; some say it comes from a Korean CD whose Chinese title was 韩流, Hanliu, literally the Korean Wave; some say it comes from Chinese media to describe the success of the first aired Kdramas on Chinese TV.
On this paper, it's slightly different:
Source: KIM M. (2011) « The role of the government in cultural industry: Some observations from Korea’s experience », Keio Communication Review , n°33.
Then the other material was about: Main factors that made Hallyu possible and that maintained Hallyu
Continuous support from the Korean government: Korea is probably one of the only countries in the world that has a Ministry of Culture (Ministry of Culture, Sports and Tourism to be exact). A division of the ministry, the Popular Culture Industry Division, focuses on Korean pop music, fashion, mass entertainment, comic books, cartoons, and other key products. The division along with three other divisions are referred to as the Cultural Content Office. Its budget is a staggering USD 5.5 billion, with the aim to boost economic growth particularly through growing the country’s cultural industry export industry. Additionally, the Korean government sponsors 20-30% of a USD 1 billion investment fund earmarked to nurture and export popular culture. The remaining funds comes from investment banks and private companies and are managed by the Korean Venture Investment Corporation.
One of the strategies of managing Hallyu is the careful study of its target audience – mostly people in Asian countries. The Korean government and its divisions follow these Asian countries and cultures closely to understand which Korean Wave products would have the best probability of success in different markets. The secret is that no one understands these markets better than Korea.
The Korean government has also been very active in managing Hallyu outside of Korea by conducting different cultural festivals displaying the Korean offerings, conducting PR campaigns to publicize Korean uniqueness and indirectly helping the entertainment industry by creating a very conducive environment. As of August 2020, the Korean Culture and Information Service has set up 32 Korean Cultural Centers in 28 countries across Africa, Asia-Pacific, Europe, and America to promote Hallyu.
The Korean government has also built and opened “K-Culture Valley” in Goyang, a Hallyu inspired theme park which would house everything from film studios, Korean restaurants, live music concerts to movie galleries, hotels, shopping malls selling Korean celebrity merchandise and even a Korean theme park at a cost of USD 1.2 billion. The purpose of this theme park has been to put in one place all the interesting components of Hallyu for visitors.
Lesser animosity towards Korea in Southeast Asian region: History, in a strange way, is positively aiding Korea and the growth of Hallyu. Most Asian countries were former colonies of Japan during the World War time. The direct result of this has been the continuing animosity towards Japan in many Asian countries, most notably in mainland China.
Hallyu Fan clubs
There’s one thing I didn’t understand in the paper though: how come lifting bans on imported and distributed content (programs, movies…) from Japan or foreign countries was a + for Hallyu or Korea?