Netflix Emphasizes Win-Win with Korean Content Industry "Economic Impact 5.6 Trillion Won"

Hosting 'Netflix Partner Day' to Introduce Collaborations with Partners

Netflix has emphasized co-growth with the Korean content industry. On the 29th, it held the 'Netflix Partner Day' and introduced collaborations with its partners. The focus was not on well-known beneficiary production companies but on specialized technology firms. The emphasis was placed on the socio-economic effects across the entire content industry sector, dispelling criticisms that it hinders the growth of domestic platforms.

Kang Dong-han, Netflix Korea Content Head VP (Vice President), stated, "So far, we have distributed eighty Korean works to 190 countries," adding, "Over the past five years, we have invested 770 billion KRW, creating 16,000 jobs and generating an economic effect of 5.6 trillion KRW. This year, we will invest 550 billion KRW to grow together with the Korean content industry." He continued, "Korean content collaborated with Netflix has now established itself as popular culture enjoyed worldwide beyond Asia," and "especially, the recently released 'Ojingeo Game' (Squid Game) was the most-watched Korean content on Netflix in the United States for the first time."

Netflix's role in overseas viewers watching Korean content is absolute. According to a survey by the Korea Foundation for International Cultural Exchange, the share of Netflix in movies and dramas is 64.3% and 63.2%, respectively. Variety shows and animations also exceed 50%. VP Kang emphasized, "We provide subtitles in thirty-one languages and dubbing in twenty languages so that members worldwide can enjoy Korean content closely," adding, "A virtuous cycle structure leading to the growth of the domestic creative industry has been established."

Netflix presented companies such as Sel (special makeup), Dexter Studio (color grading), Livetone (sound), Westworld (VFX), and iYuno-SDI (dubbing and subtitles) as proof of this. Sel has participated in 'Okja,' 'Kingdom,' 'Sweet Home,' and 'The Silent Sea,' gaining recognition even in the overseas special makeup industry. CEO Hwang Ho-gyun said, "With the global growth of Korean content, special makeup artists are gaining attention," adding, "Opportunities for overseas expansion have also increased significantly." He continued, "Netflix provided not only physical support but also systematic schedule and budget management, allowing sufficient pre-production time to maximize creative capabilities."

Dexter Studio handled color grading for 'Kingdom,' 'The School Nurse Files,' 'Time to Hunt,' 'Space Sweepers,' 'Night in Paradise,' 'Sweet & Sour,' and 'The Silent Sea.' Notably, 'Kingdom' Season 2 was the first in Korea to undertake 4K HDR work. Director Park Jin-young of the color grading division said, "Dexter Studio's technical skills combined with Netflix's guidelines incorporating the latest technologies such as UHD, HDR, and 4K enabled us to deliver even more outstanding work." Livetone, responsible for the sound of 'Okja,' 'Kingdom,' 'Space Sweepers,' and 'The Silent Sea,' saw its performance increase by 49% in the first half of this year compared to the previous year. CEO Choi Tae-young said, "The volume of content currently in production or about to be released has more than doubled compared to last year."

Westworld carried out VFX for 'Sweet Home,' 'All of Us Are Dead,' and 'The Silent Sea.' When established, it had fewer than ten employees, but now it has grown to about 170 employees. CEO Son Seung-hyun said, "Since collaborating with Netflix, the average sales of domestic VFX companies have increased nearly fourfold." iYuno-SDI, which has worked with Netflix since 2015, has grown to be capable of dubbing in 60 languages. It currently handles about 600,000 hours of subtitle translation. Global Client Director Oh Hye-seok said, "Subtitles and dubbing have come to be recognized as an important role in localization that conveys not only translation but also emotion and fun," adding, "This is evidence that the expertise and status of content-related fields are rising every year along with the expansion of the creative ecosystem."

This content was produced with the assistance of AI translation services.