Naver to invest $134 million on overseas comics business

Home > Business > Industry

print dictionary print

Naver to invest $134 million on overseas comics business

Korea’s top portal operator Naver said Monday it will invest 150 billion won in its online comic platform to better penetrate into overseas markets.

Naver said it will make the investment through a paid-in capital increase program and acquire 300,000 additional shares in its wholly-owned affiliate, Naver Webtoon.

Naver Webtoon said it plans to use the cash to expand its presence in foreign markets like the United States and Japan.

The portal operator has been making various efforts to beef up its comic business, also investing some 60 billion won in January in its affiliate.

Naver said it currently has some 5 million active users in the United States, claiming the investment will help Naver Webtoon achieve further growth going forward.


Yonhap

More in Industry

Are you Taycan to me?

Facebook hit with $6 million penalty for customer data leak

Spinoff to give LG chairman's uncle his own conglomerate

Lotte companies make appointments earlier than usual

Doosan Heavy becomes largest shareholder of Doosan Fuel Cell

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now