SBS and Netflix Forge Strategic Partnership to Globalize K-Content

In a significant move to enhance the global reach of K-content, South Korea's leading terrestrial broadcaster SBS has partnered with the global entertainment giant Netflix. The partnership was formalized at the SBS Broadcasting Center in Mokdong, Seoul, with key figures including SBS President Bang Si-hyuk and Netflix's Vice President of Korean Content, Kang Dong-han, in attendance. This collaboration aims to create a win-win situation for both companies, allowing SBS to expand its content globally while Netflix enhances the value of its subscriptions by offering diverse experiences to its members.

The agreement includes provisions for Netflix to provide SBS's new and existing dramas, variety shows, and educational programs to its domestic subscribers. Additionally, select new SBS dramas will be released simultaneously worldwide. Starting next year, viewers can expect to see popular SBS variety shows such as Running Man (런닝맨), I Want to Know That (그것이 알고 싶다), and The Story of That Day (꼬리에 꼬리를 무는 그날 이야기), along with classic hits like Sandglass (모래시계), Stove League (스토브리그), and Penthouse (펜트하우스) on Netflix.

Furthermore, the two companies plan to globally release some of SBS's new dramas in the second half of next year. Netflix will also produce subtitles and dubbing in various languages and engage in local marketing efforts to boost the competitiveness of K-content.

SBS has been committed to producing high-quality content that resonates on the global stage, similar to how the BBC has strengthened its global competitiveness through partnerships. This collaboration with Netflix is a strategic decision aimed at enhancing SBS's competitive edge. Netflix, in turn, will broaden the scope of Korean content available to its domestic and international subscribers, actively increasing the value of its offerings.

Kang Dong-han, VP of Netflix, remarked that the partnership marks a new milestone in promoting the excellence of Korean storytelling worldwide. He expressed hope that the innovative vision of SBS combined with Netflix's passion for Korean content will usher in a new golden age for K-content that lasts for over a century.

Bang Si-hyuk, President of SBS, stated that this agreement is rooted in SBS's future strategy of expanding beyond terrestrial TV to a global audience. He emphasized that the collaboration with Netflix will allow viewers worldwide to engage more with K-content, contributing significantly to its globalization. He also highlighted that this partnership will create new opportunities for both SBS and Netflix, particularly in increasing viewer engagement.