In 2016, Netflix made a debut in South Korea. The country is regarded as one of the most challenging countries for global companies to thrive because of local competitors.
Supermarket giants Walmart and Carrefour did not survive in a tough competition with local supermarket brands such as E-mart and Lotte Mart. Yahoo that was once dominantly used for a search engine withdrew its service in 2012 in the wake of local teach companies’ drastic growth such as Naver, Kakao, Daum and Nate.
Because of the examples I mentioned above, people might think Korean people tend to be loyal to national companies for the economy. This is not true because many other global companies have settled down in the nation such as Apple, Starbucks.
When Nextflix announced the country’s video streaming service, it brought quite a bit of attention because sceptics loved to find out if it would be a go-to platform. Korean video companies did not want to share their content with the new competitor, resulting in a lack of Korean content.
In 2016, Netflix drew public attention by releasing a film directed by Bong Joon-ho who would win the Oscar with Parisite in 2020. It was shocking that the film…
