FAST: South Korea is positioned to become a global powerhouse by 2030

South Korea is rapidly emerging as one of the world’s most dynamic Free Ad-Supported Streaming TV (FAST) markets, according to new research from Omdia. By 2030, the country is projected to become the 12th largest FAST market globally, with revenues set to grow from $23 million in 2024 to $48 million.

Speaking at the International Streaming Festival in Busan, Maria Rua Aguete, Senior Director at Omdia, noted that “Korean content has never been stronger—on FAST and subscription services—and Netflix has been the biggest amplifier of that story worldwide. This popularity in SVOD is now driving the growth of Korean FAST channels globally.”

Since the launch of Samsung TV Plus in 2015, South Korea’s FAST ecosystem has grown rapidly. Wavve currently leads the sector, followed closely by Samsung TV Plus and LG Channels. New entrants like LG U+ and Diva (formerly D’Live) are also gaining traction. FAST has firmly entered the mainstream, with Samsung TV Plus ranking as the fifth most-watched video service on connected TVs in Korea, and LG Channels securing the tenth spot. This momentum positions South Korea as the third-largest FAST market in the Asia-Pacific region, behind only Australia and Japan.

Netflix has played a crucial role in elevating Korean content on the global stage. In South Korea alone, it offers over 8,000 Korean titles—more than Amazon, Apple TV+, and Disney+ combined. The global success of Squid Game, Netflix’s most-watched show ever with 1.65 billion hours viewed, underscores the impact of K-content. Meanwhile, K-pop-inspired productions such as K-Pop Demon Hunters have broken records as top-performing films, and Korean pop culture continues to dominate platforms like Spotify and TikTok, capturing younger global audiences. “Netflix is the global ambassador for K-content,” Rua Aguete added. “As we saw with Spain’s Money Heist, when one streamer leads, others follow. This rising global demand directly benefits FAST, where Korean series and formats are gaining ground on ad-supported platforms worldwide.”

Government support is further accelerating growth. Under its K-OTT Industry Global Competitiveness Strengthening Strategy, the Korean government has pledged ₩1 trillion (approximately $720 million) to bolster domestic OTT services, including FAST. In addition, the Ministry of Science and ICT, along with the Korea Association for ICT Promotion, has launched the Global K-FAST Alliance to expand Korean FAST channels internationally.

“The government sees FAST as the next chapter of the Korean Wave,” Rua Aguete concluded. “Korea now has the perfect storm: a thriving presence in both pay and free TV markets, supported by global demand and local investment.”