Netflix, marking the 10th anniversary of its service in South Korea, is keeping its investment drive in K-content while broadening its approach to include discovering new talent and supporting production infrastructure.

At the "Next on Netflix 2026" event held at the Conrad Hotel in Seoul on Jan. 21, Kang Dong-han (강동한), Netflix vice president for Korean content, said goals set when the service launched in South Korea in 2016 had become reality. He added Netflix will now continue investing in line with that.

Netflix is continuing the $2.5 billion (about 3.3 trillion won) investment in Korean content it announced in 2023. After a typical production period of 2 to 3 years, titles produced with the funds will begin to be released in earnest from this year. Kang said the number of annual releases can vary depending on the production cycle, but broad-based investment will continue across series, films, unscripted shows and licensing.

A key point is a larger share for new creators. Netflix filled 1 out of every 3 Korean titles it released over the past 3 years with debut works by new directors or writers. Kang said Netflix will expand talent development programmes and provide training that shares global production technology and filming techniques. He added Netflix will bear the risks involved in trying new stories.

◆Focus on stories over star creators; 24 titles to be released

Netflix will release 24 Korean originals this year. The lineup comprises at least 12 series, 8 unscripted titles and 4 films. Compared with last year, it increases series and unscripted titles by 1 each, while cutting films to 4 from 7.

In the series category, key titles include "Slowly and Intensely," written by Noh Hee-kyung and starring Song Hye-kyo and Gong Yoo, and "Scandal," directed by Jung Ju-woo and featuring Son Ye-jin and Ji Chang-wook. "Wonderfuls," "Donggung" and "Can This Love Be Interpreted?" are also planned. Bae Jong-byeong (배종병), senior director for Korean series, said the company places the greatest importance on stories and messages rather than star casting or famous creators.

In films, the focus is "Possible Love," director Lee Chang-dong's first release in 8 years. Starring Jeon Do-yeon and Sul Kyung-gu, it depicts the story of 2 couples living opposite lives. "Pavane," "Husbands" and "Cross 2" will also be released. Kim Tae-won (김태원), director for Korean films, said Netflix will present films that will be remembered 10 or 20 years from now.

In unscripted titles, popular content returns, including season 3 of "Culinary Class Wars" and season 3 of "The Devil's Plan." The lineup also includes "Lee Seo-jin's Different Different," produced by Na Young-seok, and "Yoo Jae-suk Camp," featuring Yoo Jae-suk and Byun Woo-seok. Yoo Ki-hwan (유기환), director for Korean unscripted content, said the slate was designed to satisfy diverse tastes.

◆On IP allocation and M&A concerns: "Investment unchanged"

Netflix also addressed concerns about IP profit sharing and fears of reduced investment stemming from global mergers and acquisitions.

On controversy over IP exclusivity, Kang said Netflix fully covers production costs and bears all risks. He said contract structures are very flexible, and in cases of major success such as "Squid Game," Netflix provides sufficient compensation to production teams over successive seasons.

Asked about the impact on Korean investment from global M&A such as a recently reported rumour of acquiring Warner Bros. Discovery, Kang said demand for Korean content will not change regardless of global market conditions. He said the Korea investment plan will continue without any impact.

On rising production costs, Kang said necessary investment for high-quality content must be made. He added Netflix's role is to manage that appropriately while protecting the quality of works.