Launched by South Korean tech giant Naver Corporation in 2004, Webtoon gained popularity as a hosting platform for a specific type of short-form digital…
SEOUL (Reuters) -South Korean tech giant Naver's webcomics business, called "Webtoon", will rely on its deep bank of content and creators to fend off new competition from larger Silicon Valley rivals, its CEO said, as it plans a listing next year. The global webtoon industry made $4.7 billion in 2021 and is projected to make $60.1 billion by 2030, according to Spherical Insights & Consulting. More recently, Amazon Japan launched a webcomics service called "Amazon Fliptoons" while Apple Books has also started a webtoons platform in Japan, with plans to expand to other countries.
Amid the expansion of tech giants into the realm of digital comics, the CEO of WEBTOON is unwavering in his belief that his company possesses the tools for