Deadline reports on a meeting between Netflix CEO Ted Sarandos and South Korean President Yoon Suk-yeol, where the streaming giant’s future collaboration with the South Korean film and TV industry was discussed. Sarandos confirmed that Netflix will invest 2.5 billion dollars in South Korean films and series and that the agreement is valid for the next four years.
Sarandos elaborates:
“We were able to make this decision because 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 fuelling the Korean wave.
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. I have no doubt our investment will strengthen our long-term partnership with Korea and Korea’s creative ecosystem.”
Netflix has had great success with South Korean content, with Squid Game undeniably the biggest commercial success. Other major South Korean series include Kingdom, Stranger, Mr Sunshine and The Uncanny Counter – all of which are currently streaming via Netflix.
It will be exciting to see what Netflix offers for South Korean content in the next four years.
How do you feel about Korean movies and TV series?
