Netflix is too strong
According to the Korea Times, more and more famous Korean dramas and entertainment shows are appearing on Netflix.
The drama Tastefully Yours, starring Kang Ha Neul and Go Min Si, is expected to premiere simultaneously on Genie TV and Netflix platforms next month.
This is the first time the KT production company has cooperated with Netflix to release a film - a clear change from the company's previous policy of only broadcasting original content on the internal platform Genie TV and the pay TV channel ENA.
An KT official said the company has "restructured its distribution strategy to enhance reach through simultaneous over-the-counter (OTT) streaming platforms."
Another highly anticipated drama, Weak Hero Class, season 2, will also be released exclusively on Netflix on April 25.
The first season, released in 2022, was produced by Wavve and became a hit. However, due to financial difficulties, Wavve has given up producing the sequel, and Netflix is taking over the project.
The Korea Times commented that this change reflects the increasingly deep division in the Korean content industry, as Netflix attracts many popular titles with great profitability.
It is very rare for a show/discussion to change the producer or distributor between seasons. But the trend is changing, with many popular series now moving to Netflix.
The show Screwballs debuted earlier this year on Netflix, considered the next season of the popular variety show Beat Coin aired from 2022-2024 on KBS. In addition to the renaming, the show still brings together a group of old artists including Kim Sook, Hong Jin Kyung, Jo Se Ho, Joo Woo Jae, Wooyoung (2PM) and producer Park In Seok once again took on the direction.
Similarly, JTBC's popular show "Crime Scene", which aired from 2014-2017, will return later this year with the name "Crime Scene Zero" on Netflix.
Domestic platforms are difficult to compete with
Yoo Geon Sik, Visiting Professor of Sungkyunkwan University, described this trend as Netflix's "richer" cycle.
"With Korean broadcasters and OTT platforms struggling financially, content will naturally flow towards Netflix, which has capital to support production," he said.
He warned that if this situation continues, domestic platforms will only produce content that Netflix transmits, weakening their competitiveness.
Some analysts hope that the upcoming merger of the two Korean platforms Tving and Wavve can help control Netflix's dominance, by merging content.
Tving, led by major shareholder CJ ENM, offers shows from tvN, Mnet and JTBC. Meanwhile, Wavve is supported by KBS, MBC and SBS public broadcasters, with the advantage of many content on ground television.
However, Professor Yoo Geon Sik expressed concern: "Tving and Wavve have cut down on original products, so even after the merger, there may not be major changes."
Despite South Korea's efforts to increase domestic online services, Netflix's appeal seems to be growing. This raises the question of whether Korean companies can truly compete with Netflix for the long term?
Even SBS, one of the main content providers for Wavve, has signed a content delivery contract for Netflix since January 2025.
Professor Yoo Geon Sik believes that if MBC or KBS encounter financial difficulties, these major broadcasters may also cooperate with Netflix.
