Netflix yields ground on 'Squid Game' dispute with South Korea

Global streaming giant Netflix is considering giving an additional reward to the Korean producers of Squid Game the platforms biggestever original show a senior official of the company was quoted as sayingDean Garfield vicepresident of public policy at Netflix said his company is in talks with Squid Game production crews including director Hwang Donghyuk over special bonuses Representative Kim Yeungshik told reportersThe Netflix official made the remark during a meeting with Rep Kim while visiting Seoul for meetings with South Korean officials from the information service authorities and national assembly including Kim Hyun whos the vicechairperson of the Korea Communications Commission It was the first comment by a Netflix official on the controversial issue reports Yonhap News AgencyNetflix came into the spotlight since the phenomenal success of Squid Game spiked a controversy in South Korea over the streamers monopoly of the entire intellectual property of Koreanlanguage shows the company invests in with no additional reward to local creatorsKoreanlanguage thriller Squid Game released in September became the most popular Netflix original show in any language attracting more than 140 million households over the first four weeks of releaseAccording to US news outlets Netflix spent 21 million on Squid Game but enjoyed an estimated 900 million in profit from an increase in subscribers and rise in stock pricesBut director Hwang and crew members who had reportedly agreed to a fixed 10 per cent margin to the total production cost have had no additional income and incentives in accordance with the shows global successGarfield also said that Netflix is seeking other alternative ways to iron out disputes with South Korean telecommunications companies and regulators over the cost of using the local network The streamer which refused to pay for the use of the network lost a lawsuit against local internet service provider SK Broadband Co in JuneThe South Korean government has been increasing pressure on Netflix to pay the network usage fees South Korean President Moon Jaein said last month that global platforms should meet their responsibilities commensurate with their size and ordered the government to review the dispute involving NetflixAlso Read Squid Game creator shares he intended to target global audience from startThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever