Netflix to invest $2.5B in Korean content over four years
Christopher Jue/Getty Images Entertainment
During South Korean President Yoon Suk Yeol's visit to Washington on Monday, Netflix (NASDAQ:NFLX) co-CEO Ted Sarandos said that the company is set to invest $2.5B in Korean content over the next four years.
That is double the amount Netflix (NFLX) invested in Korean content since it first entered the market in 2016.
"I have no doubt that our investment will strengthen our long-term partnership with Korea's creative ecosystem. We are deepening our partnership with Koreaâs creative industry which has produced such amazing hits as 'Squid Game,' 'The Glory,' 'Physical 100," Ted declared, while expressing appreciation for Korean creators and their compelling stories.
"This investment is not an end but a new beginning," added President Yoon. "I will work hard so that our creators and Netflix can fully display their capacity. The Korea-U.S. alliance is an alliance of values that protects freedom, but culture is a prerequisite to protecting and expanding freedom."
More related news:

Netflix Has Made It To The Other Side
Netflix: South Korea Derails Its Business Model
Netflix's Squid Game Success, The Content Slate, And The Challenges To Look Out For