Korean wave fuels global OTT platforms' competition

[Anchor]The global OTT platforms are focusing their attention on Korea due to the box office success of K-content.Netflix has been steadily increasing its share of Korean content, and Disney Plus has also entered fierce competition by filling more than half of its Asian content with Korean content.This is reporter Jeong Hae-joo from Singapore.[Report][“Various people come to this light shop.”]The only place that brightens the dark alley, 'Light Shop'.Customers with suspicious secrets come one by one.Thanks to the global success of the drama 'Moving,' Disney Plus plans to prominently feature Korean works next year as well.[Kim Hee-won/'Light Shop' Director: “The works of writer Kang Full have emotions that move people's hearts. I was also moved by that….”]The narrative captures Korean realities such as IMF unemployment, large corporations, and the counterfeit market, featuring top Hallyu stars like Kim Soo-hyun, Son Suk-ku, and Kim Hye-soo.The production costs are also enormous.[Kim Soo-hyun/'Knock Off' Kim Sung-jun role: “The process of going from an ordinary office worker to a businessman and then becoming a global counterfeit king was very interesting.”]As the marketability of K-content has been proven, Disney Plus has filled more than half of its Asian content with Korean works for next year.Netflix has also entered the competition by allocating 20% of its non-English content to Korea.[Carol Choi/Disney APAC Content Strategy Head: “The top 15 best performing titles, 9 of them came from Korea. Korea continuing to be an inspiration to many of the top storytellers around the region.”]Beyond K-pop, K-content, including dramas, movies, and variety shows, is expected to grow and expand its global influence next year.There are concerns that the domestic content ecosystem could be shaken as global OTT platforms with significant financial power intensify their offensive.It is a time when accurate market predictions and preparations are needed alongside growth.This is Jeong Hae-joo from KBS News in Singapore.