Netflix announced that it will increase domestic subscription prices starting from the 9th.
This marks Netflix's first price increase in South Korea since November 2021, when the prices of the standard and premium subscription plans were raised 42 months ago.
Netflix raised the basic plan by 26%, from 9,500 won to 12,000 won per month, and the ad-supported standard plan by 27%, from 5,500 won to 7,000 won per month.
The basic plan is the lowest-priced option that currently allows subscribers to watch Netflix programs without ads, and new sign-ups have been suspended since December 2023. However, existing members using this plan will remain, and they plan to increase the prices for these individuals.
The standard plan (13,500 won per month) and the premium plan (17,000 won per month) will maintain their existing prices without changes.
A representative from Netflix noted, "We are changing our pricing plans to provide a variety of quality entertainment experiences, and this will lead to reinvestment to provide greater value to our members."