Netflix will invest $2.5 billion in South Korean content over the next four years, the streaming giant's CEO Ted Sarandos announced after meeting with the country's President Yoon Suk Yeol in Washington.

"Netflix is delighted to confirm that we will invest USD 2.5 billion in Korea including the creation of Korean series, films, and unscripted shows over the next four years," Sarandos said in a statement given to AFP Tuesday.