First Lady Kim Geon-hee, 2.5 Billion Investment in Netflix, Requests "Please Maintain Continued Interest in Korea"

Mrs. Kim Meets Netflix CCO
Bavaria CCO "Delivering Korean Culture Through Variety Shows and Dramas"
President Yoon Exchanges Letters with Netflix
$2.5 Billion Investment Pledged Within 3 Hours of U.S. Visit

First Lady Kim Keon-hee, wife of President Yoon Suk-yeol, welcomed Netflix's announcement of a $2.5 billion (approximately 3.3 trillion KRW) investment in K-content and urged continued interest in Korea.

On the 24th (local time), First Lady Kim met with Bela Bajaria, Netflix's Chief Content Officer (CCO), and exchanged views on Korean content production and the promotion of Korean culture overseas, spokesperson Lee Do-woon conveyed in a written briefing.

First Lady Kim said, "As Korean culture is gaining global attention, Netflix is taking the lead in distributing Korean dramas and films," welcoming Netflix's announcement of investment in K-content. She added, "Through Netflix's investment, please continue to pay attention so that many promising new Korean actors, directors, and writers can be discovered."

When First Lady Kim mentioned that there is significant overseas interest not only in Korea's traditional culture but also in youth culture, CCO Bajaria responded positively.

CCO Bajaria expressed agreement, noting that unlike the past when Hollywood culture dominated, today Korean culture, language, and characters are greatly loved. She cited strong female characters portrayed in works such as The Glory, Good Job (Gilboksoon), and Okja as examples.

There was also mention of the dynamism of Korean culture. First Lady Kim said, "Korea is called 'Dynamic Korea' because it is a cultural powerhouse with individuality and charm in various fields such as traditional and modern music, architecture, and more." She added, "Since this year and next year are designated as 'Visit Korea Year,' if Netflix’s dramas, films, and variety shows capture this dynamism well, more people will visit Korea and experience its style and beauty."

CCO Bajaria replied, "The more Korean-colored the content is, the more it is loved," and promised, "We will ensure that Korea’s traditions, culture, and food are well conveyed through variety shows and dramas."

First Lady Kim Keon-hee, wife of President Yoon Suk-yeol, met with Bela Bajaria (left), Chief Content Officer (CCO) of Netflix, at Blair House in Washington DC on the 24th (local time), and then took a commemorative photo with Kim Min-young, Head of Netflix Asia-Pacific Content (right). Photo by Yonhap News.

Earlier, President Yoon, on the first day of his state visit to the United States, met with Ted Sarandos, co-CEO of Netflix, at Blair House in Washington, D.C., securing a $2.5 billion investment. The large-scale investment agreement was announced just about three hours after his arrival, with President Yoon and Sarandos reportedly exchanging letters to pre-commit to investment and support.

At the meeting, President Yoon told Sarandos, "You are someone who recognized market changes early, jumped into the business, created a business model, and pioneered the market, and many people want to learn from you." He continued, "Sarandos said the relationship between Netflix and Korean content companies is like the Korea-U.S. alliance, and I completely agree. The Korea-U.S. alliance is a value alliance that protects freedom, and culture is an essential requirement to protect and expand freedom."

Sarandos responded, "Collaborating with Korean creators is a great strength for us. Korean works have tremendous stories, and we are exporting Korean culture to the world." He added, "The work of adding Korean subtitles started small, but now we operate 34 offices worldwide, which is a great achievement."

The announced investment amount is double the total amount Netflix invested in Korea over six years from 2016 to last year. Sarandos said, "The reason we could make this decision was because we had faith in the Korean creative industry and believed Korea would continue to tell wonderful stories." He also mentioned, "President Yoon’s affection for the Korean entertainment business and Hallyu and his strong support played a part."

President Yoon Suk-yeol, on a state visit to the United States, is speaking with Ted Sarandos, Co-CEO of Netflix, at a meeting with global company executives held on the 24th (local time) at the White House Reception Hall in Washington, DC.
[Photo by Yonhap News]

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