Netflix Expected to Invest More in Korean Content

Hanwha Investment & Securities said in its report on Nov. 30 that Netflix established a corporation in South Korea in September this year and this is to invest more in Korean content.

“The existing corporation, Netflix Services Korea, is responsible for OTT service management, membership management and marketing and the new corporation is in charge of original content production, content procurement and investment, production site management, and so on,” it explained, adding, “Netflix has set up such corporations in content leaders and the examples include the United Kingdom and Spain.”

According to Hanwha Investment & Securities, Netflix made equity investments in Studio Dragon and JContentree late last year, this is Netflix’s first equity investment in a pure content production firm, and the corporation in South Korea is Netflix’s first content corporation in Asia.

“Netflix has invested 800 billion won in about 70 Korean TV dramas, movies, and the like since 2015 and the establishment of the corporation has to do with the satisfactory outcome of the investment,” it went on to say, continuing, “These days, major OTT service providers are focusing on Southeast Asian markets, where even Netflix is yet to exceed one million subscribers by country and Korean TV dramas are enjoying huge popularity.”