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Netflix Expands South Korean Footprint, Leasing Two Production Facilities
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hollywoodreporter.comNetflix is doubling down on South Korean content, a reflection of the East Asian nation's cultural influence globally. The streamer said Thursday that it has signed leases on two production facilities outside of Seoul so that it can "feed the demand" of subscribers around the world who are "eager to watch more original Korean series and films." From 2015 to 2020, Netflix has spent $700 million on Korean content, which included more than 80 shows made in the country.
The popularity and reach of South Korean entertainment —from important neighboring markets like Japan and Southeast Asia to Latin America and the Middle East —has made the country's creative output a vital category to the company's global growth ambitions.
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