Netflix Inc said on Tuesday it plans to invest $2.5 billion in South Korea over the next four years to produce Korean TV series, movies and unscripted shows, doubling the amount the company has invested in the market since 2016.
Known as the "Korean Wave" or Hallyu, South Korea's entertainment industry has enjoyed a global boom in recent years. Its music market, led by K-pop groups such as BTS and Blackpink, have been leading the charge.
In 2021, exports of content including music, video games and films reached a record high of $12.4 billion, according to the latest government data, leaving behind home appliances and rechargeable batteries in export volume. "We were able to make this decision because we have great confidence that the Korean creative industry will continue to tell great stories," Sarandos said in a statement, citing the streaming platform's global hits produced by South Korean creators such as "Squid Game", "The Glory" and "Physical:100".
"Squid Game", a 2021 release, remains Netflix's most-watched series of all-time, having racked up 1.65 billion hours of streaming in the first 28 days.last week, as it looks to crack down on unsanctioned password sharing into the second quarter to make improvements, delaying some financial benefits.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Breakingviews - South Korea's chip dilemma gets sharperPresident Yoon Suk Yeol is walking a diplomatic tightrope. As the South Korean leader starts his week-long state-visit to the United States marking the 70th anniversary of the countries' alliance, the White House has asked Seoul to 'urge' its chipmakers not to fill any supply shortfalls in China if Beijing cracks down on Idaho-based Micron Technology , the Financial Times reported, citing four sources. There are no good options for Yoon.
Les mer »
South Korea aims to deliver the world's first solid state-batteries for EVsSouth Korea is investing 20 trillion won ($15 billion) by 2030 in the world’s first solid-state batteries for electric vehicles.
Les mer »
Gov. DeSantis visits Japan, South Korea, Israel and Britain ahead of potential 2024 presidential announcementRon DeSantis, the governor of Florida, traveled to Tokyo for a meeting Monday with Japanese Prime Minister Fumio Kishida and Foreign Minister Yoshimasa Hayashi.
Les mer »
South Korea restores Japan on trade 'white list'South Korea has formally restored Japan to its list of countries it gives preferential treatment in trade, three years after the neighbors downgraded each other’s trade status amid a diplomatic row over historical grievances
Les mer »
Biden to unveil new efforts to protect South Korea from nukesPresident Joe Biden will use this week’s celebratory state visit by South Korean President Yoon Suk Yeol to underscore that the U.S. is ready to step up its efforts to deter a North Korean attack on South Korea, according to senior administration officials.
Les mer »
Morning Bid: South Korea to avoid recession ... justA look at the day ahead in Asian markets from Jamie McGeever.
Les mer »