Korea's historic victory over Poland in the World Cup Finals, is expected to generate about W14 trillion, roughly US$11.5 billion in direct and indirect economic gains, as the country's festive mood reaches a peak in the wake of the team possibly advancing to the second round and even the quarterfinals after Tuesday's landmark win.

According to a report released by the Hyundai Research Institute, economic benefits for the country will be far-reaching with increases in domestic consumption and an upgraded sovereign image, as well as brand-power enhancement for local products.

The study says direct economic effects are estimated to reach W2 trillion, including W940 billion in consumer spending, as well as W564 billion in overseas publicity.

Immeasurable indirect economic boosts are expected to come from strengthened export competitiveness and heightened public morale, as well as enhanced stock investor sentiment. The think tank says the World Cup will greatly boost the economies of co-hosts Korea and Japan, regardless of their tournament performance and the actual gains would far exceed expectations.

(Arirang TV)