Hastings said more details will be announced later this year.
"Okja" represents Netflix's first investment in a Korean film project. The latest work by Bong currently being filmed at a remote village in eastern Korea is slated for launch next year on Netflix and in movie theaters.
South Korean media reported that Netflix invested $50 million, among the largest in the South Korean movie industry.
In January, Netflix launched its service in 130 more countries as part of its efforts to boost international subscribers. It is available in 190 countries to 81.5 million subscribers but not in China, the biggest market for Korean TV series and films.