Netflix to invest $2.5 billion in South Korea to make TV shows, movies
April 25, 2023 – Streaming giant Netflix confirmed it will be investing $2.5 billion into creating Korean content for the platform, including television series, movies and unscripted shows, over the next four years.
America’s internet content is the nation’s third largest export. The market cap of its Big Tech platforms overshadows the gross domestic product of all but the biggest five national economies in the world. Many nations think Big Tech platforms are railroading their local culture and content. They had once imagined that the internet would allow the development of their domestic content and applications. Few countries have been able to develop platforms to compete with the likes of Google, Facebook, Apple etc. South Korea is one rare, possibly even precious, exception.
Hallyu! The Korean Wave: About the exhibition
From K-Pop costumes to K-drama props and posters, alongside photography, sculpture, fashion, video and pop culture ephemera, the exhibition invites visitors to delve into the phenomenon known as ‘hallyu’ – meaning ‘Korean Wave’. Hallyu rose to prominence in the late 1990s, rippling across Asia before reaching all corners of the world and challenging the currents of global pop culture today.
Korea’s creative and industrial coming of age and the associated art forms are celebrated at a new exhibit at London’s Victoria & Albert Museum. There are over 200 Korean icons on display, including the world’s first commercial MP3 player, Nam June Paik’s Mirage State (the 1986 sculpture comprising 33 TV monitors); sets, costumes, and posters from popular K-drama and film; digital cartoons designed for mobile devices; touchstones from K-pop stars G-Dragon, BLACKPINK and BIGBANG, BTS, and NCT; and a showcase of the millennia of Korean beauty with cosmetics packaging, porcelain pots, and face wrappings and skin care which today comprise some $13. billion industry globally.
Victoria and Albert Museum: Hallyu! The Korean Wave
Forbes: The Rise Of The National Creative Industries Strategy