Netflix Sales in Korea Surpass 1 Trillion Won for First Time, With Over 80% Flowing to US Headquarters

A member of the National Assembly's Science and Technology Information Broadcasting and Communications Committee, Han Jun-ho, released an audit report on Netflix Services Korea on October 14. The results show that Netflix's sales in South Korea reached 1.0542 trillion won last year, marking the first time they surpassed the 1 trillion won mark. However, 853.9 billion won was paid to the US headquarters under subscription fees and other categories, accounting for 81% of total sales. The Korean subsidiary's operating profit was 2.03 billion won, with an operating profit margin of just 1.9%.