Netflix (NASDAQ: NFLX) co-CEO Ted Sarandos has confirmed the streaming giant's plans to invest $2.5 billion in South Korea's creative industries over the next four years.
This ambitious investment plan doubles the total amount Netflix has poured into the South Korean market since launching its service in 2016.
Sarandos expressed confidence in the continued growth of South Korea's creative industries, citing their ability to tell compelling stories that resonate with global audiences.
The president's strong support for the South Korean entertainment industry and his role in fueling the Korean Wave influenced Netflix's decision to increase its investment.
The global popularity of South Korean shows, driven by the compelling storytelling of South Korean creators, has increased interest in the nation's culture.
Shows such as "Squid Game," "The Glory," and "Physical:100" have captured the attention of viewers around the world, bringing South Korean stories to the forefront of the global cultural zeitgeist.
Netflix's significant investment aims to strengthen its long-term partnership with South Korea and its creative ecosystem.
By deepening its collaboration with South Korea's creative community, the streaming platform plans to continue to grow alongside local talent and bring the excitement of South Korean entertainment to fans around the world.
Sarandos thanked the President, the South Korean creative community, and Netflix's partners in South Korea for their support and contributions to this strategic investment plan.
