Netflix recently launched in Asia but it immediately faces tough competition as Hong Kong's largest telecommunications company, PCCW, provides the latest Korean dramas through its new Viu streaming service, which is pronounced as view.

Hack Busters has reported that the new streaming service will deliver the latest Korean dramas and a host of various programs eight hours after they are shown on TV. Viewers can choose to watch the shows with Chinese or English subtitles. Audiences can access Viu content using their phones, tablets, and even on their PCs. Viewers can even choose to download the shows.

"We've done a survey of online users in Asia," said Viu managing director Janice Lee in a report by Telecompaper. "Out of that actually, anywhere from 50 to 80 percent watch Korean dramas. In Singapore, it's over 50 percent."

She added, "Korean content travels very well across the Asian market. We're planning on adding Chinese, Taiwanese and Japanese content, and PCCW also produces our own content and we'll definitely be bringing it to Viu as well."

CNET wrote that the increasing internet speeds all over the world allows companies like PCCW stream high quality videos for more and more people to enjoy. One of the major company that takes advantage of this internet speed development is Netflix, which recently announced at the CES 2016 that it will expand to 130 more countries, from the 60 that it already operates in.

Viu offers the streaming services on a freemium model, but the company is planning to launch a premium service for customers that takes away advertisements. The company hasn't announced an official date on when this will happen yet.

The Viu streaming service is currently available in Hong Kong, Singapore, and Malaysia. It plans to expand to India and Indonesia before the end of the first quarter this year.