Aju Business Daily

SEOUL -- Coupang, also known as the South Korean version of Amazon, has signed a content supply agreement with two filmmakers in an effort to beef up its over-the-top service which was released in December last year.

The South Korean ecommerce giant famous for its overnight grocery delivery said in a statement on January 14 that it signed content supply contracts with New Entertainment World (NEW) and Showbox. The two content companies play vital roles in leading the country's box office sized at 2.5 trillion won ($2.2 billion) as of 2019.

NEW will service 25 films including the zombie blockbuster series "Train to Busan" and "Penninsula" through Coupang Play, the ecommerce giant's over-the-top (OTT) service. Showbox will provide 51 hit movies.

Coupang Play is offered free for Coupang's premium overnight delivery service users who pay a monthly subscription fee of 2,900 won ($2.6). There are more than five million premium subscribers in December. South Korea's OTT market is led by Netflix, the world's top video-on-demand OTT service. There were more than 3.3 million paid subscribers of Netflix in South Korea s as of 3Q 2020.