Naver Acquires Additional $838.9 Million Shares in U.S. Webtoon Subsidiary

NAVER announced on the 3rd that it will additionally acquire 413,782 shares of its U.S. webtoon content service subsidiary, Webtoon Entertainment, for 838.9 billion KRW. After the acquisition, the shareholding ratio will be 71.2%. The company stated that the purpose of this stock acquisition is to "focus on strengthening the global webtoon business capabilities."