Suseong Webtoon Sets Sights on 100 Million Subscribers

Tumix Holdings, the largest shareholder of Suseong Webtoon, has raised funds by using its shares as collateral. Tumix Holdings plans to use the funds to prepare for the era of 100 million subscribers.

On August 27, Suseong Webtoon announced that Tumix Holdings had signed a repurchase stock contract agreement (RSCA) with a US-based hedge fund. This contract was made based on funds raised through TTU Private Equity.

Under the terms of the agreement, Tumix Holdings will transfer its shares for five years and, at maturity, will repay the principal and retain the right to repurchase the shares. A company representative explained, "Although it is formally a stock sales contract, it is a stable long-term financing method that does not affect management rights."

The representative added, "Issuing corporate bonds or new shares could dilute the stock price. Since there is a possibility that shareholders' asset value may decline in the short term, we chose to raise funds by using the largest shareholder's shares as collateral."

Tumix Holdings will invest the secured funds in its global expansion strategy and the establishment of an AI-based creative infrastructure. The company emphasized that this is part of securing resources to reach 100 million members worldwide and to create an artificial intelligence (AI) creative ecosystem optimized for webtoon artwork.

The webtoon platform Tumix currently has approximately 60 million global subscribers. The company is working to expand overseas platform partnerships, supply localized content, and strengthen multilingual services. The raised funds will be used to develop AI-based creative tools and build production automation technologies. These investments aim to simultaneously enhance webtoon production efficiency and the ability to provide customized content.

Suseong Webtoon recorded consolidated sales of 62.8 billion won and an operating profit of 6 billion won in the first half of this year. A company representative stated, "We will responsibly pursue our long-term growth strategy and global expansion plans."