Netflix Bolsters Korean Content After 'Squid Game' Success

  • By Byun Hee-won

    January 20, 2022 11:49

    Streaming giant Netflix is bolstering Korean content following the success of last year's hit Korean series "Squid Game" and "Hellbound."

    Netflix on Wednesday said it will unveil more than 25 Korean "original" shows this year exclusively produced by the platform, 10 more than last year. It invested W1 trillion in Korean shows until last year, while more than 130 Korean shows were shown (US$1=W1,190).

    The time that subscribers devoted to watching Korean content increased more than six times last year compared to two years ago.

    In the case of "Squid Game," which attracted the most viewers, 95 percent of viewers were overseas, and the series was the top show in 94 countries, including Brazil, France and Turkey. Bloomberg estimated last October that the streaming service invested US$21.4 million to produce "Squid Game" and earned $891 million.

    "Hellbound" and "Silent Sea" which were released on Netflix late last year, also became the most-watched non-English series. Netflix said there are now around 5 million paid subscribers in Korea, up around 1.2 million over the year.

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