Squid Game’s mega-hit spurs Netflix to release record K-content

Netflix Inc. plans to release 10 additional Korean-language originals this year as the smash success of Squid Game has impelled the world’s top streaming service to expand K-content to boost subscribers worldwide.

Netflix is set to showcase 25 Korean-language works this year, including six original films and 18 series, the largest annual slate from the country so far. In 2021, it showed 15 Korean original programs including Squid Game, the streamer’s biggest show ever.

“Korean offerings have now become indispensable content in the global market,” said Don Kang, Netflix’s vice president of content for Korea, in an online press conference on Wednesday. “We are excited to continue collaborating with Korean storytellers to bring the K-wave to new heights.”

Netflix, which launched the service in 2016 in South Korea, has invested 1 trillion won ($839.6 million) in the country so far. The streaming platform has introduced more than 130 Korean titles to overseas fans.

Global viewing hours of Netflix’s Korean shows grew sixfold last year, compared to 2019. Some 95% of Squid Game’s viewership came from out of the country, while many of these viewers went on to explore other Korean content, according to Netflix.

SCHOOL ZOMBIES TO START

Among the 25 shows slated for 2022, the dystopian zombie series All of Us Are Dead will be the first to make its global premiere, on Jan. 28. The drama is a story about a number of students, trapped in a school amid a zombie virus outbreak, who come together in their fight for survival. The series highlights a number of rising stars including Yoon Chan-young and Park Ji-hu.

The Accidental Narco, starring hit actors Ha Jung-woo and Hwang Jung-min, is the show getting the most buzz. Based on real-life events, the story is about an ordinary entrepreneur who is forced to risk his life by joining the secret mission of government agents to capture a Korean drug lord.

Netflix is set to release Money Heist: Korea - Joint Economic Area, a South Korean version of the hit Spanish series Money Heist. The series cast features Yoo Ji-tae and Kim Yunjin.

Among the film, Seoul Vibe, starring Yoo Ah-in and Ko Kyung-pyo, is expected to be in the spotlight. The action blockbuster narrates a talented crew of baby drivers that investigates slush fund scandals during the 1988 Seoul Olympic Games.

Meanwhile, Netflix’s Kang expects the over-the-top (OTT) media service industry in South Korea to grow further.

“More global OTT providers have come to Korea in the last couple of years, but there are still many more people who do not watch than current OTT users,” Kang said.

“In that sense, it is not a zero-sum market. The OTT industry is expected to grow further.”

Write to Hee-Kyung Kim at hkkim@hankyung.com
Jongwoo Cheon edited this article.