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On this file photograph taken on Oct. 19, 2021, the Netflix brand is seen on the Netflix, Inc. constructing on Sundown Boulevard in Los Angeles, California. (AFP-Yonhap) |
A subsidiary of Netflix will make investments $100 million in South Korea over the following six years to construct particular visible results amenities in a transfer that may assist flip the nation into an Asian hub for high-tech content material creation, Seoul’s trade ministry stated Friday.
Scanline VFX will perform the funding plan by 2027, in accordance with the Ministry of Commerce, Trade and Power. An occasion to formally announce the plan befell in central Seoul, with Stephan Trojansky, the top of the worldwide visible results firm, in attendance.
Scanline VFX’s funding comes amid intensifying competitors within the native video streaming market led by many gamers, together with Netflix and their push to create Korean originals after international hits of such dramas as “Squid Sport” and “Hellbound.”
Scanline VFX, established in 1989 in Munich and not too long ago acquired by Netflix, is engaged on numerous initiatives not only for the US streaming service large but additionally for a lot of international manufacturers, resembling Warner Bros. and Marvel Studios. It’s identified for creating particular results for the US well-liked sequence “Sport of Thrones.”
“Its funding marks the primary of its form in Asia to construct amenities for motion pictures’ particular results that make the most of digital actuality rendition know-how,” the trade ministry stated in a press launch.
“It is going to lay the groundwork for South Korea to emerge as an Asian hub for content material manufacturing primarily based on info and communication know-how,” the ministry added.
The trade ministry promised to supply all doable assist underneath related legal guidelines to assist facilitate Netflix’s deliberate funding within the high-tech film manufacturing sector down the highway. (Yonhap)
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