[Asia Economy Reporter Hyungsoo Park] As the Netflix original content 'Ojingeo Game' (Squid Game) gains popularity worldwide, KBS came under scrutiny at the National Assembly's Science, Technology, Information and Broadcasting Committee's audit held on the 12th.
Democratic Party lawmaker Jo Jeong-sik told KBS President Yang Seung-dong, "The status of our country's popular culture is rising globally," adding, "KBS should take the lead in playing such a role."
People Power Party lawmaker Park Seong-joong said, "It is problematic that we create the works, but the large profits go to the U.S. (Netflix)," and asked, "Why can't KBS produce content like 'Ojingeo Game'?"
President Yang replied, "'Ojingeo Game' is a level of work that terrestrial broadcasters like KBS cannot produce," and said, "I think KBS should do what it can."
He went on to mention the drama production company Monster Union, saying, "We could consider growing it into a large studio and producing terrestrial TV and online content separately." KBS established Monster Union jointly with its affiliates.
Concerns were also raised about the increasing possibility of domestic content producers becoming dependent on online video services (OTT) like Netflix.
Democratic Party lawmaker Yoon Young-chan said, "Recently, as domestic content is produced with external investments, our own capabilities are facing a crisis."
People Power Party lawmaker Park Seong-joong also stated, "Netflix invests huge production costs but takes all the profits from the hits," calling it "the Netflix dependency of the media industry."
President Yang said, "Since Wave's content competitiveness will develop in the future, we will respond with vigilance and strive to nurture Hallyu content in the long term," urging the government for interest and support.
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