Sangjin Park CFO "Considering Future NASDAQ Listing Possibility for Naver Webtoon" (Comprehensive)

[Asia Economy Reporters Kwon Jae-hee and Boo Ae-ri] Naver Webtoon, the webcomic platform of South Korea's largest portal site Naver, is reportedly considering listing on the U.S. stock market to strengthen its global standing.

According to Bloomberg on the 20th (local time), Park Sang-jin, Naver's Chief Financial Officer (CFO), stated in an interview with Bloomberg, "We are considering expanding the sale of dollar bonds to strengthen our overseas presence, and we are also considering the possibility of an initial public offering (IPO) on the U.S. stock market in the future."

Bloomberg reported that while Naver Webtoon does not currently have plans for additional fundraising, it may consider going public once its business in the U.S. stabilizes and becomes known to American investors.

Park, the CFO, added, "Going global is inevitable for growth. We need to seek business opportunities and meet capable partners to complement our assets."

This move by Naver Webtoon follows Coupang's successful listing on the Nasdaq market last month. Bloomberg interpreted, "Coupang's Nasdaq listing demonstrates companies' efforts to expand globally and investors' willingness to provide funding for such expansion."

Recently, Naver has made overseas investments, including acquiring stakes in Spain's secondhand trading service company Wallapop and Canada's internet novel platform Wattpad. Furthermore, Bloomberg cited Park saying that Naver's messenger service Line is seeking more opportunities not only in Japan but also in Europe, Southeast Asia, and Taiwan.

Naver Webtoon is strengthening its storytelling business in the North American market through its webcomic unit and Wattpad. To this end, Naver Webtoon relocated its headquarters to Los Angeles (LA), USA, last December to accelerate its local market penetration.

A Naver official said, "Naver has created and achieved results by building a webtoon and web novel ecosystem in the global market. Especially since the U.S. is the largest entertainment market in the world, the achievements Naver Webtoon has made in the U.S. positively influence growth not only in North America but also in Europe and South America."