Table 2.

Independent variable descriptions and descriptive statistics.

X variables	Definition	Meaning	Mean	Std. Dev.
$FDI$	Ratio of country's FDI from South Korea (USD) to country's GDP (USD million)	Investment relations with South Korea	0.762	3.557
$Trade$	Country's trade with South Korea as a percentage of the country's total trade	Trade relations with South Korea	4.078	13.87
$Income$	South Korea's real GDP per capita/country's real GDP per capita	Benefits of immigrating to South Korea	11.88	17.03
$Distance$	Distance from country's capital to capital of South Korea (km)	Cost of immigrating to South Korea	9599	3733
$Education$	Number of international students from country in South Korea	Demand for education in South Korea	757.9	5501
$Internet$	Percentage of Internet users in population	Degree of development of Internet infrastructure	55.54	27.74
$KSI$	Number of King Sejong institutes per million people	Korean language education resources provided by King Sejong Institute	44.94	135.5
$Hallyu$	Per capita consumption of Korean cultural goods (USD)	Popularity of Hallyu	0.084	0.326
$Population$	Total population (millions)	Control for impact of population	41.44	153.5
Z variable
$FTA$	Dummy variable; 1 for FTA with South Korea, 0 otherwise	Meet valid exclusion restriction	0.296	0.457