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Netflix takes drastic action as stock plunges 40%, cuts 1,000 jobs

Netflix takes drastic action as stock plunges 40%, cuts 1,000 jobs

Layoffs affect 6% of workforce, the biggest reduction since 2022, as company moves to protect profitability
Falling viewing time and intensifying competition make breakthrough urgent Netflix, the world’s largest video streaming company, will cut about 6% of its workforce as it responds to slowing growth and subscriber departures.
| James choi
National Asian Culture Center to host 2026 ACC Big Door Cinema from Oct. 29-31

National Asian Culture Center to host 2026 ACC Big Door Cinema from Oct. 29-31

The “One Day, One Master: Fall in Love Cinema” program will feature screenings of “200 Pounds Beauty” (2006), “The Contact” (1997) and “Shiri” (1999), along with appearances by the films’ directors and actors.
The National Asian Culture Center , an institution affiliated with the Ministry of Culture, Sports and Tourism and led by Kim Sang-wook, will host “2026 ACC Big Door Cinema” from Oct. 29 to 31 at the Big Door outdoor stage of Theater 1 at the National Asian Culture Center.
| Joo Seong-cheol
Police refer Min Hee-jin to prosecutors on 1st over ILLIT plagiarism allegations

Police refer Min Hee-jin to prosecutors on 1st over ILLIT plagiarism allegations

Since the allegations were first raised in April 2024, the case has been found to involve false claims, in line with two court rulings.
Police find grounds for obstruction of business charges over false claims Police have referred Min Hee-jin, the former CEO of ADOR, to prosecutors after she raised allegations that ILLIT, a girl group under HYBE label BELIFT LAB, plagiarized NewJeans.
| James choi
Bong Joon-ho’s first animated feature ‘Ally’ set for July 14 release in France, with Korea to follow around the same time next year

Bong Joon-ho’s first animated feature ‘Ally’ set for July 14 release in France, with Korea to follow around the same time next year

Bong Joon-ho’s first feature-length animated film tells the story of Ally, a deep-sea fish on an adventure Top animation talent from 〈Toy Story 4〉, 〈Inside Out〉 and other global hits joins the project Production is accelerating with the goal of reaching theaters in France, Korea and the United States in 2027
Bong Joon-ho’s new film has finally set its release window. The animated film 〈Ally〉 announced its release schedule on Oct. 12. According to information released that day, 〈Ally〉 will open in France on July 14, with a Korean release planned around the same time.
| Seongchan Eol
“Lies as Easily as Breathing”: Musk, Altman and Zuckerberg Become Hollywood’s New Villains

“Lies as Easily as Breathing”: Musk, Altman and Zuckerberg Become Hollywood’s New Villains

‘Social Reckoning’ flops with $5.5 million opening weekend; Amazon abandons distribution of $40 million film
Zuckerberg becomes a screen villain as ‘Social Reckoning’ bombs at the box office Amazon abandons distribution of ‘Artificial,’ due in theaters in December, amid pressure allegations and a dismal showing The Silicon Valley titans who lead America’s “big tech” companies and the billionaire founders...
| James choi
Anne Carson’s ‘Autobiography of Red’ sales surge 203-fold in Nobel Prize boom

Anne Carson’s ‘Autobiography of Red’ sales surge 203-fold in Nobel Prize boom

Women ages 30 to 49 account for 73.5% of readers; new book ‘Wrong Norma’ due in November
The Swedish Academy’s selection of Canadian poet and classicist ‘Anne Carson’ as this year’s ‘Nobel Prize in Literature’ winner has sent South Korea’s publishing industry into a major sales frenzy. The academy cited her “bold and original body of work that creates new forms of contemporary...
| James choi
Filmmakers including director Jung Ji-young hold emergency news conference in Busan's Haeundae:

Filmmakers including director Jung Ji-young hold emergency news conference in Busan's Haeundae: "Don't turn films into political battlegrounds"

Filmmakers issue joint statement at the 31st Busan International Film Festival on Oct. 8, condemning outside pressure, including a Singapore letter sent Oct. 6, and threats to their personal safety
Leading South Korean filmmakers, including directors Jung Ji-young and Lee Myung-se, have taken a firm stand over the controversy surrounding 'Assassins', a film at the center of allegations of historical distortion.
| James choi
Shinsegae Group bets 1.4 trillion won on Warner Bros. acquisition, eyes Asian dominance with Harry Potter

Shinsegae Group bets 1.4 trillion won on Warner Bros. acquisition, eyes Asian dominance with Harry Potter

Secures a stake in the merger with a $1 billion investment, linking up with OTT platforms serving 200 million subscribers and unlocking theme-park synergies
Rewriting the rules of brick-and-mortar retail with blockbuster intellectual property Shinsegae Group is making a strategic bet amid a seismic shift in the global media industry. It will make an indirect investment of $1 billion, or about 1. 4 trillion won, in the acquisition of Warner Bros.
| James choi
[National Assembly Audit] Tving, Toss Payments face breached security systems — 39.54 million records leaked, with just four dedicated staff

[National Assembly Audit] Tving, Toss Payments face breached security systems — 39.54 million records leaked, with just four dedicated staff

As revenue surged to 400 billion won, lawmakers condemn lax management and demand reforms including victim compensation and zero-trust security
South Korea’s leading platform companies came under fire in a National Assembly audit over serious lapses in security management. Executives from 'Tving', 'Toss Payments' and 'Gangnam Unnie', all recently hit by large-scale hacking and personal-data breaches, apologized in unison.
| James choi
Twitch deploys real-time AI monitoring of livestreams, sparking dispute over ad payouts for “brand-unsafe” streamers

Twitch deploys real-time AI monitoring of livestreams, sparking dispute over ad payouts for “brand-unsafe” streamers

- CEO Dan Clancy says on podcast that Twitch is analyzing everything streamers say using AI speech-to-text (STT) technology - Real-time content evaluations designed to meet advertisers’ demands activate an ad-blocking system targeting streamers who regularly use jokes and profanity - Streamers push back: “Twitch claims to champion autonomy, then uses AI to flag even profanity and political comments made when we’re alone” - LGBTQ+ and queer-tagged creators fear they will lose advertising revenue to context-blind AI censorship
Twitch, the world’s largest livestreaming platform, has introduced a real-time AI monitoring system to identify content that does not suit advertisers and block the advertising revenue paid to the streamers behind it, drawing fierce backlash from creators.
| Yangsimoh