Netflix has announced a $2.5 billion investment in South Korean content, following the phenomenal success of the “Squid Game” series. Netflix CEO Ted Sarandos made the announcement during a meeting with South Korean President Yoon Suk-yeol, who was visiting the United States. Sarandos stated that they have faith in the Korean creative industry and its ability to create great content.
South Korean music and films have grown in popularity in recent years, with the global success of K-pop acts such as BTS and Blackpink, as well as the Oscar-winning film “Parasite,” contributing to this trend. After its release in 2021, “Squid Game” became Netflix’s most-watched show, with over 1.6 billion views.
According to Netflix data, more than 60% of its viewers watched a South Korean-produced program in 2022. Sarandos stated that the investment reflected Netflix’s confidence in South Korean creators’ ability to continue producing great stories, resulting in increased interest in Korea. The investment is a fantastic opportunity for Korean creators and Netflix to strengthen their relationship and develop diverse Korean content.
