From my point of view
K-pop has become a very popular term but it is a bit difficult to define what K-pop is. It's more than just a genre because it includes: pop, rock, hip-hop, rap, ballads, etc. Actually I would say that it's not really a genre since K-pop literally refers to pop music from South-Korean culture and that is just beginning to be understood.
There are many people who can generalize it thinking that K-pop it is music in East Asia but that's not true, for example music in China is known as C-pop and the same with other Asian countries.

K-pop group, Stray Kids. Source: Banana
¿Why did the K-pop "boom" happened?
Personally, all the East Asian culture has always caught my attention since I first saw "Boys over flowers" (a South Korean drama), but it was grown because all the content that I have known from there (dramas, music, anime, etc.) exceeds my expectations. K-pop has been the most recent type of content that I have consumed from an East Asian country and I really like it.
It's not that I don't like music from Mexico it's just that it's more reggaeton than any other gender and honestly lately I don't love reggaeton .
If we talk about k-pop in a global context, we have to mention BTS.
At least 44 million people listen to BTS or have heard of them, even if they don't know who they are, like one of my brothers who told me: "What is that? People have already mentioned that to me but I don't know what it is" .
If (like my brother) you don't know what BTS is, I'll explain: it's a K-pop group that has broken world records worldwide and made collaborations with other famous performers (Coldplay, Halsey, Steve Aoki, Lauv, Niki Minaj).

YouTube statistics show the views on millions of the most viewed videos within 24 hours of their release, there are 4 from BTS and one from Black Pink (another k-pop group). Source: Satista
My point is that they are very talented and famous, and since they started releasing songs in English their success became greater and more present. They are relevant to the subject because they paved the way to k-pop for many people around the world who did not know this type of music.
In addition, k-pop is much more than a single group, there are other groups like: Stray Kids, BlackPink, Twice, NCT, Seventeen, Mamamoo, EXO and soloists like ZICO, IU, Sunmi and others (they really don't end) , and they are all extremely talented.
K-pop can be treated as a musical genre but it includes many sub genres and I highly recommend giving it a chance.
Finally, since the BTS fandom scares me a bit, I want to clarify (in case there are any ARMY's around), that I do not think that BTS is not the one of the most talented but since I mentioned them previously I decided not to do it again in the last mention of K-pop groups and soloists.
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