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Netflix Set to Pour $2.5 Billion into South Korean Market

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Moscow, April 25 – South Korean news agency Yonhap reported that the US streaming service Netflix said it would invest $2.5 billion in the Republic of Korea over the next four years to produce South Korean series, films and TV shows.
As noted, the service announced its plans after a meeting between the President of the Republic of Korea, Yoon Sok Yul, and a Netflix executive, Ted Sarandos, after the South Korean leader’s arrival in Washington.
“We were able to make this decision because of our great confidence in the Korean content industry and we will continue to make great stories… I have no doubt that our investment will strengthen our long-term partnership with the Korean and Korean creative ecosystem,” Sarandos was quoted as saying by the agency.

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In addition, according to the agency, Sarandos said the amount is double the amount that Netflix has invested in South Korea since 2016.
The agency added that the South Korean president welcomed the investment and said he expected it to be a “big opportunity” for South Korean content companies, content creators, and Netflix.
Netflix was founded in 1997 and is headquartered in Los Gatos, California. Since 2013, he has been producing his own movies, series and TV shows.

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