Giant robot doll Younghee from the Netflix thriller “A Squid Game” is displayed at the Olympic Park in Seoul, South Korea. “The Squid Game” was a worldwide success and remains Netflix’s highest-grossing show of all time.
Jung Sung Joon | Getty Images
Netflix Don Kang, Netflix’s vice president of South Korean content, said the company is spending $2.5 billion on South Korean content and sees opportunities outside of Asia.
Over the next four years, Netflix to invest $2.5 billion in various South Korean content Spanning TV series, film and nonfiction, Kang told CNBC’s “Squawk Box Asia.” He said it will double the number of non-fiction shows it produces from about four in 2022 to at least eight this year, reflecting South Korean viewers’ demand for variety shows.
These include the reality show “Physical 100,” released earlier this year, in which a hundred contestants pit themselves against each other in a series of grueling physical challenges.
“I think it’s really the first non-fiction show with a global perspective, and it’s got people very excited,” he said. Korean competition or documentary shows don’t usually go very far outside of Korea and the Asia-Pacific region, but Kang said the success of “Physical 100” is a “very positive sign”.
In 2022, “The Physical 100” tops Netflix’s weekly ratings for non-English TV shows for two weeks in a row. Another Korean variety show to achieve global success in 2022 is the reality show “Single’s Inferno,” which Kang says is among the top 10 globally.
Expand to a global audience
Before joining Netflix in 2018, Kang said, he worked on international distribution of Korean shows. “Back then it was mainly romantic comedies” that got the attention, he said. Due to language and cultural differences in other regions, the distribution is limited to nearby countries such as Japan and other Southeast Asian countries, he added.
But Netflix invested in localization through subtitles and dubbing, which removed language as the first barrier to entry and “made a world of difference,” he said.
“You can’t underestimate the … diverse tastes of people around the world,” Kang said, citing the thriller series “Squid Game” as an example. Netflix considered changing its title to something with more context for international audiences, but ended up keeping its original “engaging title that evokes curiosity,” Kang said.
netflix Slate of Korean Content Announcements so far this year include genres such as drama, post-apocalyptic and social commentary and conspiracy, as well as non-fiction, in addition to romance.
Kang said South Korea has the ability to tell stories that convey its unique culture while also resonating with universal emotions among global audiences. “When a show is loved by Korean audiences, it has a good chance of being loved by audiences all over the world.”
