Netflix to spend $500 million in South Korea this year to develop new content - CNBC

Netflix said Thursday that it will spend $500 million this year on films and series produced in South Korea to broaden its growing slate of content from the country.

In the last five years — from 2015 to 2020 — Netflix invested $700 million to expand its slate of Korean content and established two purpose-built production facilities in the country.

Besides acquiring rights to existing Korean content, Netflix has made more than 80 original shows and films locally, including the popular zombie thriller "Kingdom" from creator Kim Eun-hee.

"Over the last two years, we've seen the world falling in love with incredible Korean content, made in Korea and watched by the world on Netflix," Ted Sarandos, co-CEO and chief content officer at Netflix, said via video at the event.