Netflix Inc. is expanding its reach in South Korea by partnering with internet giant Naver Corp. to offer streaming services through the latter’s membership program.
Starting November 26, Naver Plus members can access Netflix’s ad-supported plan, typically priced at 5,500 won ($4.20), through their existing 4,900 won ($3.75) monthly subscription. The deal gives users access to Full HD content, two-device streaming, and mobile games.
The partnership comes as Netflix prepares to release new Korean content, including the second season of its hit series “Squid Game” and a new drama featuring actors Seo Hyun-jin and Gong Yoo. The streaming service has seen significant growth in its ad-supported tier, reporting a 35% quarter-over-quarter increase in subscribers.
Netflix added 5.07 million subscribers globally in the third quarter, with its ad-supported membership reaching 70 million monthly active users. The collaboration with Naver, which operates South Korea’s dominant search engine and various digital services, signals Netflix’s push to deepen its presence in the Asian streaming market.
The deal reflects a growing trend of streaming services seeking local partnerships to expand their subscriber base amid intensifying competition from rivals like Disney+ and Amazon Prime.
