'Netflix Effect' lifts Korean content but market control worries grow

The Netflix series "Squid Game" is played on a mobile phone in this picture illustration taken September 30, 2021. REUTERS/Kim Hong-Ji/Illustration

SEOUL (Reuters) - When Netflix co-CEO Ted Sarandos visits South Korea this week he will find an entertainment industry that has achieved global fame through hits such as "Squid Game" and "The Glory", but also growing worries about the service's effects on the local market.

South Korea has created some of Netflix's biggest shows, which have become synonymous with the broader international success of the country's cultural exports and spurred the Californian company to invest $2.5 billion in local content.