If you were totally enthralled by the first season of “Squid Game,” or have found yourself enchanted by titles like “Extraordinary Attorney Woo,” there’s excellent news for you this week. South Korean President Yoon Suk Yeol visited Washington, D.C. this week, and while there had a chance to meet with Netflix co-CEO Ted Sarandos.

The meeting must have been productive, because Netflix announced it is planning to spend $2.5 billion on more Korean content between now and 2027, according to The Wrap. In a statement, Sarandos said that past successes with Korean-made titles made the decision a simple one from Netflix’s standpoint.

“We were able to make this decision because of our great confidence in the Korean content industry, and we’ll continue to make great stories,” he said said. “I have no doubt that our investment will strengthen our long-term partnership with Korea and Korea’s creative ecosystem.”

Considering just how popular Korean content has become for Netflix, it’s easy to see why the company is so committed to offering more of it. A report from December 2022 indicated that over 60% of Netflix’s global subscribers had watched at least one title from South Korea last year, which helped that country surpass the United Kingdom to become the second-biggest creator of content for Netflix in the world.

That trend has continued in 2023, as the service has announced a slate of 34 shows and movies from Korea are set to debut sometime this year. This influx of titles from South Korea is one of the big reasons more than 50% of Netflix's total library is now content from outside the United States.

Despite raising the ire of its U.S. customers by announcing rules to stop password sharing would be introduced domestically this quarter, Netflix seems to be chugging right along. Its Korean content spending pledge comes on the heels of news that it had grown by 1.75 million users in the first quarter of 2023, rising to 232.5M globally. The service’s continuing international growth, coupled with a new infusion of popular Korean content will keep it on secure financial footing as the decade goes on.

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Netflix is a leading subscription-based video streaming service that offers on-demand access to an extensive library of over 3,000 movies, 2,000+ TV shows, and a growing collection of acclaimed Netflix originals. Renowned for producing groundbreaking content, Netflix has become a cultural powerhouse with hit originals like “Stranger Things,” “Wednesday,” “Squid Game,” “The Crown,” “Tiger King,” “Bridgerton,” “The Witcher,” and “Black Mirror.”

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The platform constantly updates its catalog, introducing fresh content alongside timeless classics and international hits. Netflix’s commitment to storytelling has also earned critical acclaim, with award-winning exclusives such as “Roma,” “Marriage Story,” “The Power of the Dog,” “Mank,” and “Ma Rainey’s Black Bottom.” In 2023, their animated film “Guillermo del Toro’s Pinocchio” won an Academy Award for Best Animated Feature, further solidifying Netflix’s reputation for high-quality content.

Recently, Netflix has expanded beyond standard movies and TV titles with the addition of video podcasts, and is also exploring a digital store that would offer third-party streamers within the app.

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