Statement comes as South Korean President Yoon Suk-yeol is on a six-day see to the United States.
Netflix has actually revealed it will invest $2.5 bn on South Korean material in the most recent indication of Korean culture’s explosive appeal worldwide.
CEO Ted Sarandos made the statement on Monday following a conference with South Korean President Yoon Suk-yeol, who is on a six-day check out to the United States.
“We had the ability to make this choice since we have excellent self-confidence that the Korean innovative market will continue to inform excellent stories,” Sarandos stated in a declaration.
Yoon hailed the statement as a “excellent chance” for Korean developers and Netflix.
South Korean movie and music have actually gotten worldwide renown over the last few years in the middle of the sensational success of K-pop acts, consisting of BTS and Blackpink, and movies such as the Oscar-winning “Parasite”.
Netflix series “Squid Game”, which informs the story of indebted participants in a fatal competitors for a prize money, ended up being the streaming service’s most-watched program of perpetuity upon its release in 2021, rapidly acquiring more than 1.6 billion views.
More just recently, Korean-produced “The Glory”, a drama about a lady looking for vengeance on her bullies from school, and “Physical:100”, a truth physical fitness competitors, have actually ranked amongst the popular programs on the website.
More than 6 in 10 Netflix audiences enjoyed a South Korean-produced program on the website in 2022, according to business information.
Sarandos stated the financial investment showed Netflix’s self-confidence that South Korean developers would “continue to inform excellent stories”.
“It is amazing that the love towards Korean programs has actually resulted in a larger interest in Korea, thanks to the Korean developers’ engaging stories,” he stated.
“Their stories are now at the heart of the worldwide cultural zeitgeist.”
South Korea’s cultural exports, consisting of music, computer game and movies, struck a record high of $12.4 bn in 2021, according to federal government figures.
Source
:
Al Jazeera and news companies