[Featured Stock] JoyCity Recognized as Webtoon Comics... Support Base Established with Amendment to the Comics Promotion Act

JoyCity is showing strong performance. This is interpreted as due to the analysis that a support foundation for webtoons has been established following the revision of the Comics Promotion Act.

As of 9:53 AM on the 28th, JoyCity is trading at 4,805 KRW, up 4.68% compared to the previous day.

The day before, the amendment to the "Comics Promotion Act," which includes webtoons as comics and encourages the expanded use of standard contracts in the comics sector, passed the National Assembly plenary session. The amendment changed the definition of comics to "works expressed through drawings or letters by processing real or imaginary worlds in one or more segmented spaces, drawn on tangible or intangible media (including digital media)," thereby including webtoons as comics.

Regarding the passage of the amendment, Kwon Chang-ho, Secretary General of the Webtoon Association, welcomed it, saying, "It establishes the legal definition that webtoons are also comics, essentially resetting the foundation, and it creates a basis for support or promotion projects."

Meanwhile, JoyCity has strengthened its business by signing a serialization contract last year with the Chinese webtoon platform Kuaikan through its webtoon-specialized subsidiary Joyple Entertainment. Currently, it is producing original webtoon titles in various genres and plans to release about 20 titles this year.