Suseong Webtoon Establishes Webtoon IP Division... OTT Video Production and Webtoon Platform Distribution

Suseong Webtoon resolved to establish a Webtoon IP Division at last month’s board meeting. By creating business synergies with its subsidiary webtoon company Toomics, it has begun developing new revenue sources and additional businesses such as webtoon-based video content. Next month, it plans to leverage the global recognition of K-webtoons following Naver Webtoon’s U.S. stock market listing for domestic and international sales and marketing.

Suseong Webtoon’s Webtoon IP Division recently secured rights to 19 works, including Dalbit Howling, and launched a dedicated website. Dalbit Howling, serialized since 2019, has been supplied to webtoon platforms in seven countries overseas, including France’s Delitoon, North America’s Pocket Comics and Lala Toon, China’s Kuaikan, and Japan’s Lezhin JP. The division plans to supply a total of 19 works such as How to Live as a Max Level and The Demon Contract to leading domestic and international webtoon platforms.

A representative from Suseong Webtoon’s IP Division stated, "We will activate a ‘one source multi-use’ business by utilizing diverse webtoon IPs that satisfy subscriber needs across genres such as romance, fantasy, martial arts, and BL, without being concentrated in any specific genre."

Globally, there is a boom in producing dramas and films based on webtoon IPs. Suseong Webtoon is also riding this trend by diversifying its use of webtoon IPs. Its subsidiary Toomics has a track record of producing dramas based on webtoons such as Delivery Man, Gashiri Itgo, and Rugal. Currently, it is preparing another webtoon adaptation, Actor Detective Han Mu-yul. Beyond drama and film production, it continues to expand webtoon IP collaborations in various ways, including releasing diverse merchandise and developing character businesses.

Toomics’ first-quarter performance shows a positive outlook for its entry into the global webtoon market. Toomics recorded sales of 13.8 billion KRW and an operating profit of 2.2 billion KRW in the first quarter. Of the sales, 90% were generated overseas. With services in 11 languages worldwide, 50 million cumulative subscribers, and distribution of over 1,000 webtoon contents, Toomics’ assets will serve as a strong supporter providing various support to Suseong Webtoon’s newly established Webtoon IP Division.

The Webtoon IP Division is overseen by CEO Yoo Young-hak. Yoo said, "We expect interest and attention toward K-webtoons in the global market to increase this year," adding, "We also anticipate a reevaluation of the domestic webtoon industry." He further stated, "Suseong Webtoon will swiftly respond to rapid changes and achieve performance improvements through new opportunities and business diversification."