Suseong Webtoon, Affiliate Toomics Global Acquires Webtoon Producer Terapin

Suseong Webtoon announced on the 19th that its affiliate, Toomics Global, will acquire a 96.14% stake in the webtoon production company Terafinn. The acquisition price is 29 billion KRW, and the final acquisition process is planned to be completed by January next year.

Terafinn is a webtoon production company that owns popular webtoon IPs such as The Count’s Scoundrel, Pillaging Bride, and Being Raised by Villains. From last year to the first half of this year, it has been close to the monthly break-even point (BEP) through profitability-focused work restructuring and organizational adjustments.

Suseong Webtoon plans to strengthen the supply capacity of works on its own platform held by its subsidiary Toomics by acquiring Terafinn and expand the webtoon value chain. Terafinn is also the second-largest shareholder with a 21.05% stake in Toptoon Media, a webtoon company that owns the webtoon platform 'Toptoon.'

Suseong Webtoon has set a plan to strengthen its dominance in the overseas webtoon market through collaboration with Toomics, Terafinn, and Toptoon. Terafinn’s webtoon IP Pillaging Bride consistently ranks high on Japanese platforms such as Line Manga and Piccoma. The company expects this to be beneficial for Suseong Webtoon’s business in Japan.

Terafinn supplies webtoons to more than 10 major platforms in Japan, including Line Manga, Piccoma, and Mecha Comics. Therefore, the incorporation of Terafinn as a subsidiary of Suseong Webtoon is expected to greatly aid Suseong Webtoon’s expansion into the Japanese market. Collaboration with Toptoon, where Terafinn is the second-largest shareholder, is also anticipated to help diversify Suseong Webtoon’s overseas expansion.

A representative of Suseong Webtoon said, "We expect performance to improve through synergy between platforms and production companies," adding, "Suseong Webtoon’s sales next year, including Terafinn, are expected to exceed 130 billion KRW, with operating profit reaching 15 to 20 billion KRW."

Yoo Young-hak, CEO of Suseong Webtoon, emphasized, "Through the acquisition of Terafinn, we will strengthen Suseong Webtoon’s content production and distribution capabilities and reinforce our position in overseas markets by supplying a variety of works."

Suseong Webtoon is strengthening its global webtoon services to benefit from exchange rate gains while enhancing profitability. With 60 million global members, Suseong Webtoon made its first entry into the Japanese market last October by signing a work supply contract with Amazon Japan. Toomics’ top 10 popular webtoons in the English-speaking market surpassed 100 million page views in the first quarter.