Netflix will be investing ₩550 billion KRW ($495,399,575 USD) into Korean content in 2021, further expanding their already high-profile content library.
Netflix shared in their year-to-come roadshow event See What’s Next Korea 2021 details about what they expect to do in 2021. At the event, Korea and Asia Contents Director Kim Min Young shared how Netflix plans to further grow Korean content on Netflix.
Even before Netflix entered Korea in 2016, the status and fandom that Korean content had was high. Since then, we have invested ₩770 billion KRW ($693,559,405 USD) into Korean content that goes beyond just the typical genres and formatting.
We will invest around $500 million USD, or ₩550 billion KRW, into Korean content just this year, 2021. It is our strategy to create Korean content along with the industry, and help the entire Korean production industry grow together.
We will not lose our motivation and become conceited. We will do our best to promote Korean content to the entire world.
We will help our fans around the entire world discover and find joy in Korean content.
We intend on being part of the future where Korean content is loved. We have prepared a clear way to move forward with Korea.
— Kim Min Young
Netflix recently signed multi-year leases with two production studios in Paju and Yeoncheon, laying the foundation for long-term production of their own, original Korean content. Netflix has already shown their prowess with their recent productions and distribution, such as Sweet Home, Kingdom 2, Busted! Season 3, Space Sweepers, and the upcoming Undercover. In addition, their lineup of hits such as Extracurricular, Okja, Love Alarm, and Persona have shown they are here to stay.