Ted Sarandos, Co-CEO of Netflix, recently announced the company’s plan to invest $2.5 billion in Korean content, including series, films, and unscripted shows over the next four years. This investment is double the total amount that Netflix has invested in the Korean market since its launch in the country in 2016.
Sarandos shared the news during a meeting with President Seok-Yeol Yoon in Washington, DC, earlier this week, expressing his gratitude and admiration for the Korean creative industry, which has produced global hits such as ‘Squid Game,’ ‘The Glory,’ and ‘Physical:100.’
“We have great confidence that the Korean creative industry will continue to tell great stories. We were also inspired by the President’s love and strong support for the Korean entertainment industry and fueling the Korean wave,” said Sarandos.
The Co-CEO also highlighted how the popularity of Korean shows has led to a wider interest in the country, putting Korean content at the heart of the global cultural zeitgeist. “It is incredible that the love towards Korean shows has led to a wider interest in Korea, thanks to the Korean creators’ compelling stories. Their stories are now at the heart of the global cultural zeitgeist,” added Sarandos.
Netflix’s investment aims to “strengthen its long-term partnership with Korea and the country’s creative ecosystem,” said Sarandos.
“We would like to express our gratitude to the President and also to the Korean creative industry and our partners in Korea,” concluded the Netflix co-CEO.
There have been some major Korean hits and ‘Squid Game’ was definitely a good one to watch and the second season is expected to start filming this year. ‘Beef’ directed by Lee Sung Jin and starring Steven Yuen and Ali Wong is actually really good too.
