Netflix has announced that it plans to invest $2.5 billion in South Korea over the next four years to produce more Korean content. This commitment is twice the amount that Netflix had previously disclosed. The announcement shows that the company is capitalizing on the popularity of Korean content among its worldwide viewers. South Korea is seen as a crucial market for Netflix, with over 60% of its members watching Korean content last year. In the first quarter of 2023, the company added 1.46 million paid subscribers in the Asia Pacific, where it is growing the fastest, while subscription rates in other regions have slowed. Netflix also acknowledged that some subscribers had canceled their subscriptions following the company’s announcement of a crackdown on password sharing.

The investment in South Korea is expected to create a significant opportunity for Netflix and the country’s content industry and creators. This move highlights how South Korean stories are currently representing the global cultural climate, with shows like “Squid Game,” “The Glory,” and “Physical: 100” proving to be successful worldwide. In fact, according to Netflix, four out of the ten most-watched non-English TV shows ever on the platform are Korean productions. This announcement follows Netflix’s plan to launch its largest-ever lineup of South Korean content, with 34 new and returning titles to be released in 2023.