Netflix pulls in more Korean hits, stoking fears for local streaming survival

With more high-profile Korean dramas and entertainment programs heading to Netflix, questions are mounting about the viability of domestic streaming platforms, especially in light of the upcoming merger between Tving and Wavve. KT’s upcoming drama “Tastefully Yours,” starring Kang Ha-neul and Go Min-si, is set to premiere simultaneously on its in-house platform Genie TV and Netflix next month. This marks KT’s first co-release with Netflix, a shift from its previous policy of exclusively airing original content on Genie TV and ENA. A KT official said the company has “restructured its distribution strategy to enhance accessibility through simultaneous OTT (over-the-top streaming) releases.” Another highly anticipated drama, the second season of “Weak Hero,” will also debut exclusively on Netflix on April 25. The first season, which premiered in 2022, was produced by Wavve and became a breakout hit. However, due to reported financial difficulties, Wavve stepped back from producing the sequel, which Netflix has now taken over. A growing divide The shift reflects a deepening di