Netflix intends to invest $2.5 billion to produce content from South Korea over the next four years, platform director Ted Sarandos announced in a statement received on Tuesday by Agence France-Presse following his meeting with South Korean President Yoon Sok Yul in Washington.

"Netflix is pleased to confirm that it will invest $2.5 billion to produce series, films and programs in South Korea over the next four years," Sarandos said in the statement.

He added, "This investment plan constitutes double the total amount that Netflix has invested in the Korean market since the launch of the platform in this country in 2016."

In recent years, South Korean business has achieved increasing success at the global level.

And Netflix data indicates that in 2022 more than 60% of the platform's users watched at least one work from South Korea.

Netflix, which invested more than $750 million to produce South Korean content between 2015 and 2021, had previously announced its intention to boost the production of South Korean works, without providing additional details.

President Yoon Sok-yul, who arrived in Washington Monday for a six-day official visit, welcomed what he described as a "very important" meeting with Sarandos, according to a statement received by AFP from the South Korean president's office.