Netflix announced on the 9th that it will raise its domestic subscription fees by introducing two new plans. As a result, the ad-supported Standard plan will increase from 5,500 won to 7,000 won, a 27% hike. The Basic plan, launched in 2016, will rise by 26% from 9,500 won to 12,000 won.
Netflix plans to support customers in choosing a subscription plan that suits their lifestyle through partnerships with Naver Plus Membership, telecommunication companies, and other affiliated products.
The company explained, “We are changing our subscription plans to provide a variety of high-quality entertainment experiences, which will lead to reinvestment to offer our members better value.”