Netflix to invest $ 500 million in Korean content this year
At Netflix’s “See What’s Next: Korea” online event on Thursday, the streaming giant announced it would spend half a billion dollars to expand its roster of original Korean movies and shows. With major hits like the period zombie drama Kingdom and documentary film BLACKPINK: Light up the sky already in its stable – along with over 70 other titles – this generous investment marks an exciting next step for Korean content on the platform.
With nearly 4 million subscribers in South Korea alone (around 20% of Korean households), the addition of new originals will be welcome both at home and abroad, where Korean content has cultivated a global audience. “Great Korean stories are not new, in fact the storytelling is deeply rooted in Korean culture. But today we live in a world where Parasite is an Oscar winner for Best Picture, BlackPink plays Coachella, and over 22 million homes are turning to horror TV series, Sweet home,“Minyoung Kim, vice president of content for Korea, Southeast Asia, Australia and New Zealand, said in a statement.” Audiences around the world are falling in love with the stories, the artists and Korean culture. ”
At the virtual promotional event that brought together Korean directors, writers, actors and Netflix
Regarding the wide variety of Korean content that Netflix offers – from space dramas to historical zombie series to documentaries, Kim said, “When we started working with Korean filmmakers and talent in 2016, we knew we wanted to tell stories that had never been told. before. One of my team’s favorite questions to ask any designer is, “What’s the story you’ve always wanted to tell, but never got to tell?” “
Korean stars Bae Doona and Lee Joon appeared to promote their sci-fi series The silent sea, which will be released this year. The drama revolves around a team sent to an abandoned research center on the moon. Train to Busan director Yeon Sang-ho and the cast of his supernatural thriller series Hell (Yoo Ah-in, Park Jung-min, Kim Hyun-joo, among others) have also come online to promote their show.