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Korea's webtoon industry made almost $1.5 billion in 2023: Report

Published: 02 Jan. 2025, 18:42

Webtoonists and students pose for a photo after painting the wall together as part of a volunteer activity on Oct. 29 in Daegu. [NEWS1]

Korea’s webtoon industry generated an annual revenue of 2.19 trillion won in 2023 ($1.49 billion), according to a Korea Creative Content Agency (Kocca) report released on Thursday.

The report highlighted that total revenue of Korea’s webtoon industry in 2023 had a 19.7 percent jump from the previous year. This marked the sixth consecutive annual rise since Kocca began releasing the report in 2018.

The report, jointly conducted by Kocca and the Ministry of Culture, Sports and Tourism, was based on data analysis, surveys and interviews with relevant businesses, webtoonists and users.

Regarding exports, Japan ranked as the top importer of Korean webtoons, accounting for 40.3 percent of total exports. North America came next at 19.7 percent, followed by China, Southeast Asia and Europe.

Kocca indicated that its upcoming projects will be based on this report. These initiatives include translation assistance, promotion of venture businesses and support for the creation of intellectual property.

BY YOON SEUNG-JIN [[email protected]]