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[Netflix’s sales in South Korea exceeded 1 trillion won for the first time, with more than 80% going to the U.S. headquarters] On October 14, members of the Science, Technology, Information, Broadcasting and Communications Committee of the National Assembly of Korea analyzed the audit report of Netflix’s Korean subsidiary Netflix Services Korea and released the results on October 14. The results showed that Netflix’s sales in South Korea last year were 1.0542 trillion won, exceeding 1 trillion won for the first time. However, 853.9 billion won was paid to the U.S. headquarters in the form of subscription membership fees, accounting for 81% of total sales. The operating profit of the Korean legal entity was 20.3 billion won, with an operating profit margin of only 1.9%.
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