Netflix was interested in the lucrative South Korean market for the next Squid Game hit, and the company said it would spend $2.5 billion on Korean material over the next four years.

Ted Sarandos, who is co-CEO of the company, told South Korean President Yoon Suk-yeol in Washington about the funding.

The streaming giant has had a lot of success with Korean shows like Squid Game, which is very famous.

The top dog elaborates on the big investment, saying that it will be used to fund filming in Asia’s fourth-largest economy.

“We were able to make this decision because we have great confidence that the Korean creative industry will continue to tell great stories,” he said.

Mr. Sarandos says that the President’s love for and strong support of the Korean entertainment business and the “Korean wave” also influenced the company.

Even though more information was kept secret, a Netflix representative said that the company “didn’t have anything to add at this time.”

In 2021, Squid Game broke every record Netflix had ever set and became the most-watched show ever.