Top 5 Video Streaming Platforms in South Korea 2024: OTT Market Trends and Marketing Tips

"What are the most popular video streaming platforms in South Korea, and how do they differ from those in Japan?

Which OTT services dominate the Korean market in 2024?

While Japan has its own ecosystem of video streaming platforms, the services that are most prominent in South Korea are quite different.

For marketers interested in expanding their presence in Korea or exploring video-based advertising, understanding the unique characteristics of the Korean OTT market is essential.

In this article, The Digital X, with over 18 years of experience in digital marketing, explores the fast-evolving Korean video streaming market. We’ll provide insights into current trends, user behavior, and top-performing platforms to help you craft an effective digital marketing strategy for Korea.

We’ve also selected five of the most popular Korean OTT platforms, including both global and domestic players, along with a detailed explanation of their key features and marketing relevance.

If you’re looking to boost brand awareness in Korea, be sure to also check out our related article:

“Top 3 Korean Promotion Strategies for 2024: Data-Driven Marketing Tips”

Features and Trends of South Korea’s Video Streaming Market

First, let’s explore the trends shaping South Korea’s video streaming landscape and highlight how it differs from Japan.

Below are the current usage statistics for video streaming services within South Korea:

Reference: wiseapp

In South Korea, the primary operators of subscription-based OTT (Over-The-Top) services are telecom providers, broadcasting companies, and content production firms.

Since 2019, the South Korean OTT market has undergone repeated restructuring and renewal, leading to the following notable characteristics and trends:

Key Features and Trends of South Korea's OTT Market

Movie and TV Content Dominate Korea’s OTT Market

Unlike the United States, where the “cord-cutting” trend has led users to cancel cable subscriptions in favor of OTT platforms, South Korea has not experienced a similar shift. Roughly 95% of Koreans across all age groups still subscribe to paid cable TV or IPTV services, which continue to maintain a strong user base.

This is primarily because cable TV remains affordable (around 1,000 yen per month) and OTT content offerings are often similar to what is available on television. As a result, many users in Korea retain their IPTV subscriptions while adding OTT services to access specific content.

It’s also common for users to cancel one OTT service and switch to another once they feel content satisfaction has peaked — highlighting the competitive nature of user retention in the Korean market. To combat churn, OTT providers are increasingly focused on creating exclusive and differentiated content to secure long-term engagement.

Reference: Newww Media

Korean OTT Platforms’ Countermove Against Netflix

Netflix remains the most subscribed video streaming platform in South Korea, maintaining a dominant lead in the market. Its popularity surged even further after forming a strategic partnership with CJ ENM, one of Korea’s top media and entertainment conglomerates, and Studio Dragon, a leading drama production company.

In response, several domestic Korean OTT providers have begun to consolidate and expand in an effort to compete with Netflix. These efforts include mergers and strategic alliances aimed at building stronger local platforms. For instance:

• The 8th-ranked OTT platform “seezn” merged with TVING (ranked 2nd) in October 2022.

• Additionally, merger discussions are ongoing between TVING and wavve (ranked 4th), signaling aggressive moves to create a unified domestic OTT powerhouse.

The Discontinuation of Korea’s Former Top Video Platform “PandoraTV”

PandoraTV, launched in 2004, was once South Korea’s most popular video-sharing platform, even surpassing YouTube in domestic traffic. It was the first platform globally to introduce user-submitted ads, attracting over 20 million monthly visitors.

The platform allowed users to stream movies and anime for free, offered Japanese language support, and gained significant attention from Japanese users as well.

However, due to rampant issues such as copyright infringement and the spread of illegal content, PandoraTV was officially shut down on January 31, 2023.

Today, visiting the former PandoraTV URL redirects users to Moviebloc, a decentralized film distribution platform. Moviebloc enables users to purchase movie tickets or invest in film projects using its proprietary digital currency.

That said, the current Moviebloc site hosts only a limited selection of films and operates under a completely different business model. As a result, it cannot serve as a direct successor or replacement for the now-defunct PandoraTV.

Reference: Leawo

YouTube Used as a Search Engine in South Korea

YouTube, widely known as an online video-sharing platform in Japan and globally, plays an expanded role in South Korea — it’s often used as a search engine, particularly among younger users.

While many still watch YouTube as a substitute for traditional television, Korean youth increasingly rely on it to search for information, similar to how Google is used in other countries.

Within this ecosystem, genre-based content like “ASMR” and “Mukbang” (eating broadcasts) has gained massive global traction. Notably, these video trends originated from Korean creators, showcasing the country’s influence on digital video culture.

These genres continue to drive user engagement and hint at emerging trends that marketers and content creators should keep an eye on when targeting the Korean market.

Top 5 Video Streaming Platforms Originating in South Korea

Let’s take a closer look at five of the most popular homegrown South Korean video streaming platforms, selected from the top eight services currently dominating the Korean OTT landscape.

These five platforms were developed domestically and reflect unique characteristics of South Korea’s media consumption habits and digital content trends.

We’ll also explain whether each platform is accessible from Japan, so be sure to use this as a reference when considering your options.

TVING

TVING is South Korea’s largest homegrown video streaming platform, launched in 2020 and second only to Netflix in popularity. It is operated by leading entertainment company CJ ENM, which also runs popular Korean TV channels like tvN, Mnet, and OCN — making TVING a go-to platform for Korean television content.

While TVING has gained attention among fans of K-dramas and K-POP in Japan, it is typically not accessible from Japan. However, viewers can still watch its content using a VPN (Virtual Private Network).

Coupang Play

Coupang Play is a South Korean video streaming platform operated by the e-commerce giant Coupang.

Although it was once criticized for having a limited content library, Coupang Play has rapidly expanded its offerings through aggressive investment, now rivaling TVING in popularity.

One of Coupang Play’s key strengths lies in its sports content. It offers live broadcasts of major sports leagues such as the K League, NFL, MLS, NHL, and Asia’s largest MMA event, ONE Championship.

In addition to the latest Korean dramas, the platform also produces original series, making it a rising star in the streaming market and gaining interest from international audiences, including Japan.

However, Coupang Play is not available for viewing outside South Korea, so a VPN (Virtual Private Network) is required to access it from Japan or other regions.

wavve

wavve is a South Korean video streaming platform jointly launched by the nation’s three major terrestrial broadcasters — KBS, MBC, and SBS — in collaboration with telecommunications company SK Telecom.

The service began in 2019, and by 2022, it had surpassed 3 million users, placing it among the top three OTT platforms in South Korea.

wavve offers real-time streaming of domestic Korean dramas, variety shows, sports, news, and more — essentially content that is also broadcast on terrestrial TV. Much of the content can be accessed for free, which contributes to its popularity.

However, wavve is not available for viewing from outside South Korea, so a VPN service is recommended for users in Japan or other countries who wish to access the platform.

U+Mobile TV

U+ Mobile TV is a video streaming service offered by LG U+, one of South Korea’s major telecommunications carriers, specifically designed as an optional add-on for mobile subscribers.

As a mobile-exclusive platform, it requires users to download the dedicated app to access content on smartphones or tablets.

The service provides access to programming from South Korea’s three main terrestrial broadcasters and uniquely includes adult content, which is not typically available on competing platforms.

Users can enjoy a wide range of free movies and dramas, along with 15 different channel categories such as news, entertainment, sports, music, and kids content.

WATCHA

WATCHA is a subscription-based video streaming platform specializing in Korean entertainment.

Founded in 2011, WATCHA expanded its service to Japan in 2020, making it the only Korean OTT platform on this list accessible from Japan without a VPN.

Now expanding across Asian markets, WATCHA offers a curated library of popular K-dramas, trending variety shows, and exclusive Korean titles not available on other Japanese platforms.

A key feature of WATCHA is its commitment to providing unique content, including hidden gems and niche Korean films that even hardcore fans might not have seen.

The platform supports smartphones, tablets, and Chromecast, allowing flexible viewing across multiple devices.

Frequently Asked Questions (FAQs)

Conclusion

Korean-origin video streaming platforms have been rapidly expanding and are now making inroads into the broader Asian OTT market.

While only a few of these platforms are currently accessible from Japan, their influence is growing — and wider availability may be just around the corner.

For businesses looking to implement video marketing in Korea, understanding local market trends and platform behaviors is essential.

Use the insights and platform overviews provided in this article as a foundation for planning your content strategy and adapting it for the Korean audience.