This essay examines the role of streaming platforms in the transformation of the South Korean entertainment industry. It highlights the evolution of the studio system, the impact of cable television, and the dominance of conglomerates such as CJ ENM in content production. The role of international platforms such as Netflix and localization through Studio Dragon are also analyzed to show how these collaborations have expanded the reach of Korean content to the global market. It also examines the power imbalances in the entertainment industry, the challenges faced by traditional broadcasters, and the massive impact of streaming platform investments on the South Korean economy and culture. The study highlights that the combination of government support, technological innovation, and massive investment have created an ecosystem that has allowed streaming platforms to thrive.