Seeking Quality Content

President Yook Sul-yeol (left) speaks with Netflix co-CEO Ted Sarandos (right) at a meeting with top executives of global companies held at Blair House, a guest house in Washington, D.C., on April 24 (local time).
President Yoon Suk-yeol (left) speaks with Netflix co-CEO Ted Sarandos (right) at a meeting with top executives of global companies held at Blair House, a guest house in Washington, D.C., on April 24 (local time).

South Korean President Yoon Suk-yeol and Netflix CEO Ted Sarandos met in Washington D.C. on April 25. The CEO said that his company would invest US$2.5 billion in the South Korean market over the next four years. This is in contrast to the US$1.3 billion or so Netflix previously invested in the market from 2016 to 2022.

After the news, entertainment stocks in the South Korean stock market showed upward movement. For instance, Showbox and Studio Santa Claus Entertainment gained 11.46 percent and 7.59 percent, respectively.

The Korean president is scheduled to meet with U.S. President Joe Biden to discuss defense and security issues, including the war in Ukraine. Under the circumstances, defense stocks rose as well. For example, Hyundai Rotem, Korea Aerospace Industries, and LIG Nex1 gained 3.56 percent, 3.12 percent, and 3.45 percent, respectively. Hyundai Rotem, in particular, rose for the 10th consecutive trading day.

Copyright © BusinessKorea. Prohibited from unauthorized reproduction and redistribution