Netflix announces 500 million dollar investment in South Korea

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Streaming big Netflix has introduced plans to spend practically USD 500 million in South Korea in 2021, thus including extra selection and variety to their rising slate throughout the globe.

South Korean exhibits, films and Ok-pop have garnered world recognition in latest years, constructing viewers base in international locations such because the US and India, which have a sturdy leisure trade of their very own.

“The Ok-Wave, or Hallyu as we name it right here in Korea, is a big second of nationwide pleasure and we’re proud to be a part of it. Great Korean tales are nothing new, in reality storytelling is deeply rooted in Korean tradition.

“But today we live in a world where ‘Parasite’ is an Academy Award Best Picture winner, BlackPink plays Coachella, and over 22M households tune into a horror TV series, ‘Sweet Home’. Audiences around the world are falling in love with Korean stories, artists, and culture,” Minyoung Kim, Netflix’s VP content material for Korea, Southeast Asia, Australia and New Zealand, stated in an announcement, posted on the streamer’s official web site.

The streamer revealed that it has launched over 80 unique Korean exhibits and flicks to its members all over the world, together with Kim Eun-Hee’s hit zombie thriller sequence Kingdom, young-adult drama Extracurricular and not too long ago launched house drama Space Sweepers.

“That’s why we’re investing nearly 500 million USD in Korea in 2021 to add more variety and diversity to our growing slate,” Kim added.

Netflix has over 3.8 million subscribers in South Korea.

The streamer stated will probably be working with prime expertise and filmmakers in addition to rising voices from throughout South Korea to create tales in each style.

“This year, we have Korean dramas like ‘The Silent Sea’, ‘Squid Game’, and ‘Kingdom: Ashin of the North’, bold films like ‘Carter’ and ‘Moral Sense’, new reality series like ‘Baik’s Spirit’, documentaries like ‘My Love’, and our first Korean sitcom, ‘So Not Worth It’,” Kim stated.

South Korean dramas akin to Crash Landing on You, It’s Ok to Not be Ok, Love Alarm and Lovestruck in the City have garnered large recognition on the streaming platform in the latest years.

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