Netflix Expands Business In South Korea; Opens Two New Production Houses
Netflix get 2 new production studios in South Korea
With their soaring popularity, K-dramas and K-movies are taking over the world. And it is proved once again. According to sources, Netflix, the streaming giant, has opened two new production facilities in South Korea. Moreover, the streaming company is also making additional investments in the region. Undoubtedly, this news does not come as a surprise. Most people around the world are aware of the “Hallyu Wave.” It also means the Korean wave, representing the growth of South Korean culture in other regions. Definitely, we have experienced the Hallyu wave. And it will continue to flow.
Since 2015, Netflix has reportedly spent $700 million on bringing more content from South Korea. This is the reason why Netflix has one of the best content libraries when it comes to South Korean entertainment. Without a doubt, Netflix has introduced its subscribers to some of the best films and shows from South Korea. And this new project will continue to do so. It has a variety of Tv shows and movies; you can easily watch them on Netflix.
As per the new deal, Netflix has just doubled its interest in South Korea and its entertainment industry. Moreover, we don’t see the streaming service stopping anytime soon. 2020 introduced us to many K-dramas, especially Netflix originals, and we are looking forward to other new releases. You can stream K-dramas such as The King: Eternal Monarch, Itaewon Class, and Record of Youth only on Netflix. Furthermore, it also has older K-dramas too. Daebak!
Netflix’s New Setup In South Korea
According to The Hollywood Reporter, Netflix signed leases on two fresh production studios outside of Seoul. The deed was done last Thursday. The decision is made by Netflix so it can “fulfill the needs and wants” of the subscribers. It is revealed that people around the world want more content from South Korea. Apparently, the current South Korean stuff on Netflix is not enough for the fans. And we can’t blame them for thinking this way, because it is true.
From 2015 to 2020, Netflix’s $700 million investment resulted in more than 80 shows and movies made in South Korea. The popularity of the shows is not limited anymore. The constant demand from regions like Japan, Southeast Asia, and the Middle East has made the expansion of the country’s creative output an important aspect of its global growth. More content on Netflix, more subscribers.
Not only Asian countries but the west is also hooking up on K-dramas. Previously, an article stated that many Americans loved the K-drama Crash Landing On You on Netflix. And will now explore more shows on the streaming giant. Other hits include Sweet Home, The Kingdom, and Start-Up. Honestly, the list is too long. So, we will advise you to check out the list yourself. We promise you will fall in love with them.
With the new expansion, we expect more shows. And thankfully, we also know what is coming first. According to sources, the Korean remake of the Spanish show La Casa Da Papel (Money Heist) will film in one of the new production studios.
What Does Netflix Say?
Vice President of operation of studios, Amy Reinhard, also expressed her thoughts on the new deal. She said that Netflix is thrilled to deepen its investment in Korea and its films and shows.”With these new studios, Netflix is better positioned than ever to increase our production of great stories from Korea.” Amy said. She also said that it would provide several production-related jobs in the area. And it will also help professionals in the Korean creative community.
The new production studios in Korea are based out of Seoul. They will include six stages spanning 9,000 square meters at YCDSMC, Studio 139. Whereas the other will have three stages of approximately 7,000 square meters at Samsung Studio. Both of them are located in Paju-si and Yeoncheon-gun, respectively, in South Korea’s Gyeonggi Province.
Netflix’s new projects also bring new deals to the table. This includes deals with powerhouses CJ ENM/Studio Dragon and JTBC. New titles to debut on Netflix are Silent Sea, Squid Game, Hellbound, All of Us are Dead, D.P., and others.