Media Partners Asia has projected the APAC online video sector to grow at 6.7% CAGR to reach US$78.5 billion in value by 2028, with Korea accounting for US$14 billion. As one of the biggest scaled markets in the region, Korea has an outsized influence on the region due to the tremendous popularity of K-content and K-Pop. But all is not well in the land of K-entertainment. Spiraling production costs, a more cautious content investment mindset and increasing competition from other Asian producers have thrown up significant challenges. Will the K-content production industry continue to thrive, and if so, how will it innovate to rebound to greater heights?
With the overwhelming success of Netflix in Korea, will any other streamer, local, regional or international, be able to match its dominance or succeed in this market? What lies ahead for the once all-powerful FTA channels and is the Korean advertising industry leveraging the full potential of Connected TV advertising?
