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HomeHollywood NewsNetflix Expands South Korean Footprint, Leasing Two Production Facilities

Netflix Expands South Korean Footprint, Leasing Two Production Facilities

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Netflix’s new production bases in Korea will include six stages spread over 9,000 square meters at YCDSMC< /strong>

Reflecting the global power and popularity of the country’s cultural production, Netflix has spent nearly $ 700 million on Korean films and TV series over the past five years.

Netflix

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is ​​doubling down on South Korean content, a reflection of the cultural influence of the East Asian nation globally.

Streamer said on Thursday that it had signed leases at two production facilities outside Seoul to feed the “demand” of customers around the world who are “eager to see more original Korean series and movies.”

From 2015 to 2020, Netflix has spent $ 700 million on Korean content, including more than 80 shows performed in the country.

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The popularity and reach of South Korean entertainment – from important markets such as Japan and Southeast Asia to Latin America and the Middle East – has made the country’s creative production an important category for the company’s global growth ambitions.

Recent hits on the service, which were one of the most popular TV series in many Asian markets in 2020, include Sweet Home, Kingdom Season 2, The King: Eternal Monarch, Start-Up and It’s OK to Not Be OK.

Netflix’s new production bases in Korea will include six stages spread over 9,000 square meters at YCDSMC – Studio 139 and the other three stages at Samsung Studios at about 7,000 square meters. The facilities are located outside of Seoul in South Korea’s Gyeonggi Province, in Paju-si and Yeonchon-gun respectively.

Netflix is ​​thrilled to deepen its investment in Korea, as well as Korean Films and Series,” said Amy Reinhard, Netflix’s studio operations. “With these new studios, Netflix is ​​better than ever to scale up our production of Korea’s great stories, as well as provide a wealth of production-related jobs for talented professionals in Korea’s creative community.”

In the coming years, most of Netflix’s original production will be handled in two studios. Among the projects already set to begin shooting is La Casa de Papel, a planned Korean remake of the streamer of his hit Spanish crime drama Money Heist.

Netflix’s content creation partnership in Korea includes deals with local powerhouses CJ ENM / Studio Dragon and JTBC. There are new Korean-made stories in production or development span titles such as Move to Heaven, Kingdom: North, Ashen of the North, Silent Sea, Squid Game, Hellbound, All of Us Dead, D.P., and others.

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