Calay News
Netflix CEO Ted Sarandos said Thursday that the planned $2.5 billion investment in South Korea is an “opportunity” for the country’s businesses. Sarandos assured that they are committed to a long-term investment in South Korea, which has become one of Netflix’s top content providers with global hits such as “The Squid Game” and “Glory.”
The $2.5 billion investment, announced in April during Korean President Yoon Suk Yeol’s state visit to Washington, will be an extraordinary partnership between the Korean creative community and Netflix, according to Sarandos. He also stressed that they will continue to invest in story creators in the country.
The Netflix CEO stressed the importance of collectively investing in industry talent, mentioning that between 2022 and 2025, approximately one in five Netflix titles in Korea will be created by emerging writers or directors.
Netflix’s entry into South Korea in 2016 was marked by a conflict with the country’s internet service providers, who accused the platform of being responsible for significant congestion in internet traffic.
With this investment, Netflix seeks to strengthen its relationship with the Korean creative industry and continue its growth in the country. South Korea has proven to be an important market for the company, with an audience hungry for high-quality content and a strong community of talented creators.
