When a chubby South Korean man in his mid 30's writes a song about a trendy suburb in Seoul, I doubt he ever imagined that a day would come where he would be receiving a golden pay cheque of $8 million through ad revenue on Youtube.

Yes, the Gangnam Style video by South Korean rapper Psy (who is playing at Future Music Festival) has reaped more than $US8 million in the process of becoming the first video to crack over 1 billion views mark!

So what did Youtube trend analyst Kevin Allocca conclude to why it became so popular? "Simple! the universal appeal of catchy music - and er, great equine dance moves."

Add the $8 million to the countless touring, digital downloads, advertising deals and on demand services and you got one happy South Korean chappy galloping all the way to the bank.

Psy aka Park Jae-Sang has put the cherry on top of his success by receiving South Korea's highest cultural honour in that being, the Okgwan Order of Cultural Merit.