Netflix Inc’s co-Chief Executive Officer Ted Sarandos is planning a two-day visit to South Korea from June 20 to meet Prime Minister Han Duck-soo and other key officials, Yonhap News Agency reported yesterday, according to Reuters.

Sarandos’ decision to visit comes about two months after the US streaming service announced its plans to invest $2.5 billion in South Korea over the next four years to produce Korean TV series, movies and unscripted shows.

Netflix did not immediately respond to Reuters’ request for a comment.

Sarandos met South Korean President Yoon Suk Yeol (in the picture) in Washington in April, catering to international success enjoyed by South Korea’s entertainment industry in recent years.

Known as the “Korean Wave” or Hallyu, the country’s entertainment industry has enjoyed a global boom in recent years. Its music market, led by K-pop groups such as BTS and Blackpink, have been leading the charge, the Reuters report added.

Meanwhile, Netflix has started expanding its crackdown on password sharing to the United States and more than 100 other countries, alerting users that their accounts cannot be shared for free outside of their households, Reuters had reported last week of May.

The streaming video pioneer has been looking for new ways to make money as it faces signs of market saturation, with efforts including limits on password borrowing and a new ad-supported option, Reuters reported.

Netflix had said it was sending emails about account sharing to customers in 103 countries and territories, including the United States, Britain, France, Germany, Australia, Singapore, Mexico and Brazil.

The emails state that a Netflix account should only be used in one household. Paying customers can add a member outside of their homes for an additional fee. In the United States, the fee is $8 per month.

The company had estimated that more than 100 million households had supplied their log-in credentials to friends and family outside their homes.

(Photo courtesy Ted Sarandos’ Instagram account)