This report proposes directions to improve the Korean Wave Index to enable the development of relevant policies and the strategic utilization of specialized companies specialized in the Korean Wave context. The new Korean Wave Index shall consists of athe share of the Korean Wave contents， the Korean Wave profits， and the contents’ preferences， so that the Index can examine if the contents are competitive enough to maximize the profits， and can predict the sustainability of the Korean Wave contents themselves. Furthermore， to enhance the applicability of the Index to policies， the report suggests that the classification system for the content industry shall reflect the development of the Korean Wave and be rearranged to enable the domestic and overseas comparison.