Netflix to invest $2.5bn in South Korean films, series programs

Streaming service bolsters ties with country's roaring entertainment sector

20230425 South Korean President Yoon Suk Yeol speaks next to Netflix co-CEO Ted Sarandos

South Korean President Yoon Suk Yeol, left, speaks next to Netflix co-CEO Ted Sarandos during a news conference in Washington. © Yonhap/Reuters

KIM JAEWON, Nikkei staff writer

SEOUL -- Netflix will invest $2.5 billion in South Korean movies, series and other content over the next four years, the company said on Tuesday, strengthening its partnership with the country's entertainment industry after the global success of "Squid Game," "The Glory" and "Physical: 100."

The U.S. streaming service said the investment plan is two times the total amount it has invested in the South Korean market since starting services here in 2016.

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