Netflix remains an employee-driven company despite its international success. It encourages employees to take calculated risks for the betterment of the company and trusts them to make decisions that serve its best interest. That holds especially true when it comes to Korean content; streamer has led and propelled it with shows such as Squid Game, The Glory and Physical 100. Why Netflix’s Pledge to Not Exploit Local Talent in Korea is a Big Deal South Korean ISPs could soon use a recent court ruling to charge bandwidth usage fees to traffic-hogging streaming services like Netflix. While consumers might oppose such fees, providers could benefit immensely. They'll now have greater leverage when negotiating with streaming platforms -- possibly leading to higher customer prices - further pushing back against content piracy. Netflix's commitment to not exploit local talent in their Korean productions demonstrates their recognition of the industry's significance to global media ecosystems and is why they're willing to invest in content from this region where subscription growth is increasing rapidly. Korean content industry has not only garnered international viewers' interest but has also generated substantial economic benefits to its home nation. Its global success is part of what is known as the Korean Wave or Hallyu phenomenon - an explosive surge of digital popular culture from South Korea which has transformed domestic economy, national identity, and soft power dynamics within South Korea itself. South Korea has witnessed an extraordinary cultural revival in recent years due to its embrace of digital platforms as a medium to showcase the unique blend of tradition and modernity that characterises their society. One such film, Parasite, made history at Cannes Film Festival by becoming the first non-English language film ever to win its most esteemed award: Palme d'Or; it also went on to win Golden Globes, BAFTAs and earned Best Picture Oscar nominations. Additionally, the Korean government views the Korean Wave as a strategic tool to achieve national development goals in areas of cultural diversity, exports and global brand recognition. Their official manual for nation branding published in 2011 states: "Culture can serve as an important means for creating positive national development" (Ministry of Foreign Affairs 2010). The Korean Wave is supported by government funding of top art institutions, including KAFA - known for producing director Bong Joon-Ho's 1994 graduate film Incoherence which became a cult hit and later led to blockbusters Memories of Murder and The Host. 1. It’s a Commitment Last year, Netflix's investment in Korean content led to increased subscriptions throughout Asia and sparked an "Korean wave." But Netflix isn't alone in riding this wave: domestic Korean operators like Tving (backed by studio giant CJ ENM, broadcaster JTBC and tech giant Naver) and Wavve (co-owned by KBS, MBC & SBS as well as telecom giant SK Telecom) are investing heavily in original programming to capture eyeballs both locally and abroad. Content competition is fueling the expansion of Korean production companies. Last year, Korean production companies were responsible for six of the top 10 most-watched titles on Netflix Asia-Pacific; that equated to an economic impact estimated by accounting and consulting firm Deloitte of over KRW5.6 trillion and 16,000 jobs being created as a result. Netflix co-CEO Ted Sarandos pledged in a statement that its spending on Korean series would not bypass young local talent. He pointed to the popularity of shows such as Squid Game, The Glory and Physical 100 on both local and international levels as evidence that their "bumper investments" in Korean content have had a beneficial effect on Korea's economy. Netflix's statement continues by noting their commitment "exceeds that of creating great works, supporting local talent such as first-time writers, directors and producers as well as working with organizations such as Korea Radio Promotion Association to give talented youngsters experience in film and TV production and promising that Netflix's 2022-2025 production budgets will include money to create movies alongside series. 2. It’s a Statement Netflix's business processes center around creating an environment in which they can become the most-sought streaming platform and offer investors lucrative returns. This requires commitment from every member of its production chain - with innovative thinking, smart work and effective communication being key components. Netflix uses this approach to meet its goal of having meaningful impacts across societies and provide worthwhile experiences to their users. The company's roster of Korean shows, such as drama series like "Squid Game" and "The Glory" to unscripted programs like "Physical 100", has established it as the dominant streamer within Korea's rich and competitive domestic market. Furthermore, these shows have also proven a global catalyst, spreading "Korean Wave" far beyond East Asia to win fans beyond Korean entertainment's existing markets. Netflix recently issued a lengthy statement outlining their new production spending commitment and how they hope that local companies involved in the industry may also gain from it. They cite Dexter Studios providing digital intermediates as well as Westworld VFX firm expanding due to work from Netflix; additionally they referenced a 2021 report which estimates that growth of Korean content industries generated an economic ripple effect of up to KRW5.6 trillion with 16,000 jobs being created as an estimate by them.