Making Korea’s platform into the ‘Netflix of comics and webtoons’

Minister of Culture, Sports and Tourism (hereinafter referred to as Ministry of Culture, Sports and Tourism) Yoo In-chon announced the ‘Direction of Comics and Webtoon Industry Development’ at Art Korea Lab (Jongno-gu, Seoul) on Tuesday, January 23. This measure is the second policy announcement following the ‘Video Industry Leap Forward Strategy’, which was the first policy announcement in the content sector in November last year, and policy announcements on major areas of the content industry are expected to continue in the future.

  The market size of the comics and webtoon industry grew by 23% year-on-year to KRW 2.624 trillion in 2022, and thanks to the overseas expansion of our webtoon platform, overseas exports also reached USD 107.64 million (a 31.3% increase over the previous year) for the first time. It is growing at an alarming rate, exceeding $100 million. This figure exceeds the average growth rate of the content industry, and the comics and webtoon industry is expected to become the next-generation core industry that will drive the growth of our content industry in the coming years.

  * Average annual growth rate of sales and exports in 2022: (comics and webtoons) 22.2%, 27.7%, (content industry) 5.9%, 8.3%

  In addition, webtoons are themselves a treasure trove of intellectual property (IP) and a window for intellectual property (IP) expansion, becoming an important axis of the content industry. As many dramas based on webtoons are creating success stories, the popularity of webtoon intellectual property (IP), which has proven marketability and is easy to film, is growing. In addition, webtoons are a field in which Korea is the only country with a global platform, and is expected to serve as an important bridgehead to expand the influence of K-content in the global market.

  Accordingly, the Ministry of Culture, Sports and Tourism prepared the ‘Comics and Webtoon Industry Development Direction’ to increase the competitiveness of the comics and webtoon industry in line with the industry’s growth period and to foster the comics and webtoon field as a nationally focused strategic industry. On Monday, November 27th last year, Minister Yoo In-chon personally met with cartoon and webtoon industry officials and listened to their opinions on the spot.

*  [ Comics/webtoon industry development direction promotion goal ]     ◎  Comics/webtoon industry scale  : KRW 2.6 trillion in 2022 → KRW 4 trillion in 2027    ◎  Comics/webtoon export scale:  USD 107 million in 2022 → ‘ 27 years, $250 million    ◎  Establishment of a new global representative festival (Cartoon world’s ‘Cannes Film Festival’)

[1] Support for creating success stories like ‘Netflix’, a platform for comics and webtoons

  Last year, four domestic companies were listed among the top five in global webtoon platform sales. Based on its success in Japan, ‘Kakao Piccoma’ recorded overseas profits of $600 million, and ‘Naver Webtoon’ operates ‘Canvas’, a serial space for amateur webtoon writers in the United States. Korean platforms are expanding their presence in the global webtoon market. is growing its influence.

  The Ministry of Culture, Sports and Tourism will spread these success stories and strengthen support so that a world-class comics and webtoon platform like ‘Netflix’ can be created in the comics and webtoon industry. First of all, we will promote new businesses to provide information on the overseas markets that our companies want to enter and provide consulting when actually entering the market (from 2025). In addition, according to the 2023 webtoon survey, ‘the most supported when entering overseas markets’. Considering that ‘interpretation and translation support’ was selected as a ‘necessary item’, the related budget for ’24 was expanded to 1 billion won (600 million won in ’23).

  In addition, we will hold a global event to promote ‘webtoon’ to comics readers around the world and reveal the presence of Korean comics and webtoons, and target key markets such as Japan and the United States through selection and concentration. (’24 KRW 3 billion per year) We support ‘international co-productions’ and promote ‘international contests’, while supporting the overseas expansion of Korean small and medium-sized platforms that supply specialized content tailored to local demand to discover content that captures the hearts of local readers. and plan to distribute it (’25~).

[2]  K- Cultivating field – oriented comics and webtoon manpower through benchmarking in leading content areas

  With the rapid growth of the comics and webtoon industry, the demand for manpower is also increasing. Accordingly, the Ministry of Culture, Sports and Tourism will first benchmark the ‘Korean Film Academy’ and ‘Game Talent Institute’ to promote creative, industry, and translation human resource training projects respectively. In the future, the ‘(tentative name) Comics and Webtoon Talent Academy (hereinafter referred to as the Academy) will integrate each training project. )’ establishment is promoted (~’27).

  First, in 2024, we will establish a new course to train industrial manpower needed in the field, such as planning and production producers (PDs) and professional manpower in charge of secondary commercialization, and provide education in connection with the industry. In addition, starting in 2025, a small elite curriculum will be established to produce about 30 creative talents each year who will create super intellectual property (IP). Lastly, as the overseas expansion of comics and webtoons becomes more active, we are also pursuing the establishment (tentative name) Translation Support Center (2025) to train translators specialized in webtoons and provide consulting on translation and editing.

[3] Establishment of representative festivals and international award ceremonies in the comics and webtoon industry, such as the ‘Cannes Film Festival’

  This fall, a representative festival in the comics and webtoon world will be held. Although it is the home country of webtoons and possesses internationally popular comics and webtoon intellectual property (IP), it reflects the disappointment of the industry and readers that there is no proper comics and webtoon festival in Korea, so that readers, writers, and everyone involved in the industry can enjoy it together. The festival is scheduled to be held in Korea. In addition, during the festival period, the ‘(tentative name) International Cartoon and Webtoon Awards’ will be held to award internationally authoritative works and awards to industry workers, creating an awards ceremony and festival as prestigious as the ‘Cannes Film Festival’ in the comics and webtoon world. I plan to go out.

[4] Establishment of an all-out support system centered on the Ministry of Culture, Sports and Tourism, and reorganization of the legal system centered on ‘industry’

  To promote and foster the comics and webtoon industry, the support organization and budget will also be strengthened. First, we plan to strengthen the organization and raise its status to support creation, distribution, investment, and overseas expansion by establishing a new cartoon webtoon industry team at the Korea Creative Content Agency (hereinafter referred to as KOCCA) in 2024. In addition, a ‘Comics Promotion Committee’ in which creators and industry experts participate will be formed to establish an official and representative channel for communication with the industry and creators. (1st quarter of 2024)

  Meanwhile, despite the rapid change in the industrial environment since its enactment in 2012, the current 「Act on the Promotion of Comics」, which has not seen any significant changes, is being completely revised into the 「Act on the Promotion of the Comics and Webtoon Industry」 to promote the comics and webtoon fields. Establish a legal and institutional foundation that can develop as an ‘industry’.

  * Promoting research including establishment of new comics/webtoon industry and reporting regulations (currently defining only the definition of ‘comics business operator’), comics/webtoon industry cluster (creation of regional bases), and webtoon autonomous rating, etc.

  Minister Yoo In-chon said, “I am confident that comics and webtoons will become the next-generation main field of our country’s content industry following K-pop, dramas, and games.” He added, “We will speedily pursue the strategies and tasks announced this time to improve the field.” “We will mobilize all the resources available to the Ministry of Culture, Sports and Tourism so that changes can be felt,” he said.

Editor Jun Beom