Netflix approves $500mn to South Korea to tap Asian & US markets

Spoiler Alert: This article contains spoilers. Proceed with caution if you have not watched the show/movie.

The streaming giant Netflix has decided to spend USD 500 million in South Korea in 2021 to add more variety and diversity to their growing slate across the globe.

In the recent years, South Korean shows, movies, dramas are getting popular throughout the world. It specially accumulates the audiences of US and India, which have a robust entertainment industry of their own. Netflix itself have over 3.8 million subscribers in South Korea.

Netflix broadcasted South Korean dramas like Crash Landing on You, It's Okay to Not Be Okay, Love Alarm and Lovestruck in the City that became quite popular series and were praised by global audience in the recent years.

The VP of Content for Korea, Southeast Asia, Australia & New Zealand, Minyoung Kim said in a statement, “The K-Wave, or Hallyu as we call it here in Korea, is a huge moment of national pride and we''re proud to be part of it. Great Korean stories are nothing new, in fact storytelling is deeply rooted in Korean culture.” 

“But today we live in a world where ‘Parasite’ is an Academy Award Best Picture winner, BlackPink plays Coachella, and over 22M households tune into a horror TV series, ‘Sweet Home’. Audiences around the world are falling in love with Korean stories, artists, and culture,” Minyoung Kim, Netflix’s VP content for Korea, Southeast Asia, Australia and New Zealand, said in a statement, posted on the streamer’s official website.

Netflix said that they introduced nearly 80 original Korean series and movies to the global audience including the thriller series Kingdom, Adult series Extracurricular and Song Joong-ki and Kim Tae-ri starring South Korean space opera film Space Sweeper.

Minyoung Kim stated, "that's why we're investing nearly 500 million USD in Korea in 2021 to add more variety and diversity to our growing slate.”

Netflix also revealed that they would work with South Korea’s top talent filmmakers and voice artists to create series and films of different variety. Kim said ,“So Not Worth It. We can’t wait for our members around the world to fall in love with these Korean stories.”

“This year, we have Korean dramas like The Silent Sea, Squid Game, and Kingdom: Ashin of the North, bold films like Carter and Moral Sense, new reality series like Baik’s Spirit, documentaries like My Love, and our first Korean sitcom, So Not Worth It” opined Kim.

Stay tuned to Devdiscouse to get spoilers on K-dramas and South Korean films.

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