YouTube Premium Price Increased by 43% to 14,900 Won
YouTube Music Premium for 11,990 Won
The monthly subscription price for YouTube Premium in South Korea will increase from 10,450 KRW to 14,900 KRW. The price for YouTube Music Premium will also change from 8,690 KRW to 11,990 KRW. The rate of increase is approximately 43% and 38%, respectively.
YouTube Korea announced this price increase on the morning of the 8th via email and customer center notices. The company explained, "This decision was made after careful consideration," and added, "This is the first price increase in South Korea in three years since September 2020."
The new prices will be applied immediately to new subscribers.
Existing subscribers will be charged the increased price starting 30 days after the 8th. To continue their Premium membership, they must indicate their 'consent' to the new prices. If they do not agree to the changed prices, the membership will be automatically terminated. Customers who have temporarily paused their membership must agree to the new prices when resuming their membership.
Long-term subscribers will have a temporary exemption from the price increase until their payment date in April 2024. Long-term subscribers are those who started their subscription before September 2020. Similarly, if they do not agree to the price increase, their existing membership will be automatically terminated.
YouTube Premium is a paid membership service that allows users to watch YouTube without ads and save videos offline, and it includes the benefits of YouTube Music Premium. YouTube Music Premium is a paid service for using the YouTube Music app.
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As YouTube, the number one online video service in South Korea, raises its prices, the domestic impact is expected to be significant. According to a survey conducted in November last year by the Korea Information Society Development Institute (KISDI) of 1,054 media users, YouTube was the most preferred OTT service at 56.7% in the 'OTT viewing behavior by device' survey, followed by Netflix at 36.2%.
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