https://www.cnbc.com/2023/05/12/netflixs-2point5-billion-investment-in-korean-content-targets-global-audience.html

Netflix has announced a $2.5 billion investment in Korean content over the next four years, aiming to expand its appeal beyond Asia. This investment will cover TV series, films, and nonfiction shows, doubling the number of nonfiction shows produced. The success of shows like "Squid Game" and "Physical 100" has demonstrated the global potential of Korean content. "Physical 100" became the first Korean nonfiction show to achieve significant international viewership, topping Netflix's non-English TV show rankings. Another successful Korean show, "Single's Inferno," also made it to the global top 10 list in 2022. This investment is part of Netflix's strategy to deepen its partnership with the Korean creative industry, which has produced global hits and contributed significantly to the global cultural zeitgeist. The commitment was made by Netflix's co-CEO Ted Sarandos during a meeting with South Korean President Yoon Suk Yeol, highlighting the strong support from the Korean government for the entertainment industry. This move also comes at a time when other global players like Disney+ and Apple TV+ are expanding their Korean content offerings. The investment is expected to have a significant economic impact, boosting various sectors within the Korean content production industry and beyond Variety, Time, CBS News.