Suseong Webtoon Subsidiary Toomics "Expecting Largest Operating Profit Since Establishment"

As the popularity of K-webtoons rises overseas, Suseong Webtoon’s subsidiary, Toomics, is accelerating its performance improvement this year.

Yu Young-hak, CEO in charge of the webtoon business, said, "We are currently conducting a preliminary settlement of Toomics’ third-quarter performance," adding, "Operating profit in July and August has exceeded 1 billion KRW, making significant operating profit growth possible this year." He continued, "This year’s operating profit will be the largest since the company’s founding," and "We expect sales to surpass 60 billion KRW."

Toomics achieved sales of 29 billion KRW and operating profit of 5.1 billion KRW in the first half of this year. Last year, it recorded sales of 57.4 billion KRW and operating profit of 10.3 billion KRW.

The company cited the rise in global recognition of K-webtoons and a steady, diverse content lineup as the background for this year’s performance growth. With Naver Webtoon’s listing on NASDAQ this year, the recognition of K-webtoons in the U.S. market has greatly increased. Toomics webtoons, which are serviced in 11 languages across 9 countries, have strengthened their lineup in Japan this year and enhanced content targeting the European and North American markets.

They are making strides in Japan, the world’s largest comic market. Starting this year, K-webtoons have been provided through Japan’s largest e-commerce platform, and a variety of genre content has been secured. Toomics offers 354 original contents for Japanese readers.

Toomics is a subsidiary in which Suseong Webtoon holds a 41% stake. It is a webtoon company with steady sales growth and sustained operating profit. Suseong Webtoon is pursuing a plan to expand its stake in Toomics to increase management control and make it a key subsidiary capable of consolidated performance. Suseong Webtoon also owns subsidiaries such as Future Hightech, a semiconductor parts and equipment subsidiary for HBM, and The Queen AMC, an entertainment agency to which actress Kim Nam-joo, known as the "Drama Queen," belongs.