Pallavi Kumari
The author is a Post-graduate Student at the Jawaharlal Nehru University, New Delhi. This article was an outcome of the ‘Korea Centre Summer Internship Programme-2024′.
Abstract
In the realm of contemporary cultural phenomena, Korean entertainment has become a significant part of global pop culture, captivating the interest of youth. The allure lies in the unique storytelling and visual style characteristic of Korean media. One of the noteworthy aspects of it is Webtoon: a digital comic platform emerging from South Korea. It has now become a global cultural and economic phenomenon, similar to the K-dramas and K-pop. Webtoon now holds immense power shaping media consumption especially among younger audiences and this is evident in the growing trend of adapting more webtoons into dramas. As a new form of Korean pop culture, webtoons have rapidly gained international popularity and emerged as a soft power and economic asset for South Korea.
This research examines webtoon’s rising cultural influence and economic impact, assessing its role in spreading the Korean Wave (hallyu) and transforming the domestic publishing industry. Utilizing qualitative methodology, I analyze webtoon’s expansion into global markets through online platforms, its adoption by media studios for adaptation into films, TV shows, and merchandise. The findings demonstrate webtoon’s appeal among international audiences, especially youth, owing to its web-based accessibility, unique visual style, and engaging stories. This research further evaluates the increase in webtoon exports, licensing deals, and consequent revenue generation, underscoring its status as a cultural export diversifying hallyu. By providing a holistic understanding of webtoon’s ascent as Korea’s new pop culture wave and its emerging economic influence, this research emphasizes webtoon’s significance as an innovative medium advancing Korean soft power and the creative economy.
Keywords: Webtoon, Hallyu, Korean Wave, Soft Power, Creative Economy
Introduction
Korean webtoons have emerged as a global cultural phenomenon, revolutionizing the comic industry and reshaping entertainment consumption patterns worldwide. This article explores the rise of Korean webtoons, tracing their evolution from a domestic digital comic format to a powerful force in the global entertainment landscape. We begin by examining the historical context of Korean comics, or manhwa, and their transformation into the digital webtoon format. The article then delves into the economic aspects of the webtoon industry, highlighting its exponential growth, diverse revenue streams, and impact on employment opportunities. Next, the article analyzes the global expansion of Korean webtoons, focusing on their dominance in the Asia-Pacific region, their expansion into the North American market, and their emerging presence in Europe, Latin America, and beyond. Throughout, this article explores how webtoons are reshaping comic reading practices, influencing entertainment consumption behaviors, and driving innovation in storytelling and digital content delivery. Finally, the article considers the future implications of the webtoon phenomenon, discussing how Korean platforms are leveraging technological advancements and globalization strategies to position webtoons at the forefront of the comic industry’s evolution. This comprehensive exploration aims to provide readers with a thorough understanding of the webtoon industry’s current state, its global impact, and its potential to redefine comic artistry and narrative experiences for a new generation of global entertainment consumers.
Webtoon: A New Form of Korean Wave
Korean popular culture, known as the Korean Wave or Hallyu, has emerged as a global phenomenon in recent decades, captivating international audiences with its diverse forms of entertainment. From the gripping narratives of K-dramas to the infectious melodies of K-pop, Korean cultural exports have garnered immense popularity, especially among younger demographics (Jin and Yoon, 2014). South Korea’s reputation on the global stage has skyrocketed, with the nation now widely recognized for its critically acclaimed web series, boundary-pushing movies like Parasite, and chart-topping K-pop groups like BTS and Blackpink, whose influence extends far beyond the realms of music. Amidst this cultural renaissance, a new form of Korean storytelling has emerged, one that seamlessly blends traditional artistic roots with the digital age – the webtoon. These mobile-optimized digital comics, originating from South Korea, have rapidly expanded their global readership through online platforms since their debut in the early 2000s, solidifying their position as the latest Korean pop culture export to garner international recognition.
The evolution of webtoons is intrinsically woven into the rich tapestry of Korea’s comic book history, known as manhwa, which dates back to the 1920s. The genesis of this artform can be traced to the period of Japanese occupation from 1910 to 1945, a time of cultural exchange that saw Japanese language and cultural elements permeate Korean society. Despite restrictions on importing Japanese cultural goods, Korean artists found inspiration in the vibrant world of Japanese manga, adapting its diverse genres and storytelling techniques to meet the burgeoning demand for comics among Korean youth.
As the decades progressed, Korean comics blossomed into a distinct art form, forging an identity that resonated with the nation’s audiences. The rise of sun-jeong manhwa, a genre centered on the experiences of young girls exploring themes of romance, friendship, and personal growth, marked a pivotal moment in this evolution. Pioneering female creators like Hwang Mi Na and Kim HyeRin played instrumental roles in shaping and popularizing this genre during the 1980s and 90s. The 1980s ushered in a new generation of Korean artists who boldly challenged conventions, exploring diverse themes such as revolution, war, religion, and identity through their works. Renowned creators like Go Uyeong, Bak Sudong, Lee Hyeon-se, Lee Sang-woo, Heo Young-man, Park Bong-seong, and Lee Hee-jae pushed the boundaries of Korean comics, paving the way for the digital revolution that would follow.
As the digital age dawned, Korean comics underwent a transformative metamorphosis, propelled by the advent of web-based platforms and the rise of webtoons. These digital comics transcended the confines of traditional paper formats, embracing the limitless possibilities of the online realm to deliver immersive storytelling experiences to a global audience. Platforms like Daum and Naver became epicenters of creativity, providing a fertile ground for both established and emerging artists to showcase their talent and reach new heights of artistic expression. Despite challenges such as piracy and translation barriers, webtoons surged in popularity, captivating audiences worldwide and inspiring adaptations into movies, television shows, and merchandise. The appeal of webtoons among youth audiences, both domestically and internationally, is undeniable. Their engaging narratives, vibrant visuals, and accessible online platforms resonate deeply with younger demographics, shaping consumption patterns and preferences in unprecedented ways.
The economic implications of the webtoon industry are significant, contributing to revenue generation and job creation within Korea’s burgeoning creative sector. Through lucrative licensing agreements, merchandise sales, and advertising revenue, webtoons have become a valuable asset, underscoring their versatility and commercial viability within the entertainment industry. This transformation is evident in the evolving landscape of the domestic publishing industry, where webtoons are fostering innovation and entrepreneurship, ushering in a new era of storytelling and content creation. Moreover, webtoons are part of a broader, strategic push by South Korea to assert its cultural influence and soft power on a global scale. The concept of soft power, coined by Joseph Nye in the realm of international relations, refers to the influence a country wields through the charismatic appeal of its popular culture. The transnational dissemination of Korean popular culture, known as the Korean Wave or Hallyu, has gradually transformed South Korea from an Asian backwater into a vibrant, ultra-modern, and trend-setting society.
Korea’s major conglomerates, or chaebols, along with smaller industry players, have been proactively exploring innovative globalization and localization strategies, keenly aware of international cultural products, trends, and markets. The nation’s creative industries, encompassing television, film, music, e-sports, fashion, and beauty products, have received escalating financial support from the government, reflecting the strategic importance placed on cultivating soft power through cultural exports.
As Korean dramas, movies, and music have captivated audiences across China, Taiwan, Vietnam, Japan, and beyond, the world has witnessed the rapidly evolving soft power expansion of the Korean Wave, enticing international audiences to consume and enjoy Korean culture and products. While Asia’s creative and cultural industries have been studied extensively, many investigations of the Korean Wave have overlooked one of the newest sectors diversifying the Hallyu entertainment market: webtoons. In essence, webtoons represent a modern cultural export that is reshaping the entertainment industry by seamlessly blending innovative storytelling with digital mediums, captivating audiences worldwide. Born from the rich heritage of Korean comics, webtoons have transcended geographical boundaries and evolved into a global phenomenon, solidifying South Korea’s position as a cultural powerhouse in the 21st century.
Economic Aspect of Webtoon
The South Korean webtoon industry has witnessed an extraordinary surge in recent years, propelled by rising domestic and global popularity, as well as successful adaptations into dramas and movies. This remarkable growth is evident in the staggering market figures, diverse revenue streams, and the industry’s global expansion efforts.
The total sales of the South Korean webtoon market skyrocketed to an astonishing 1.57 trillion won ($1.23 billion) in 2021, marking a remarkable 48.6% increase from the previous year, according to data from the Korea Creative Content Agency (KOCCA). This staggering figure is a testament to the industry’s meteoric rise, as it is nearly four times larger than the 379.9 billion won recorded in 2017 when data compilation began. The global webtoon market size, valued at $3.7 billion in 2021, is projected to reach an unprecedented $56.1 billion by 2030, growing at an impressive compound annual growth rate (CAGR) of 36.8% from 2022 to 2030. Closer to home, the domestic webtoon market in Korea alone was estimated to be approximately 1.829 trillion won in the “2023 Webtoon Industry Survey.”
The revenue streams within the industry are diverse, with webtoons – digital comics read on computers and mobile devices – accounting for a substantial 76.5% of the total revenue in 2021. Paid content emerged as the largest contributor, making up 63.2% of the total, followed by overseas content at 17.4%, webtoon publications at 6%, and sales of intellectual property (IP) rights at 2.8%. The “2023 Webtoon Industry Survey” further revealed that the average revenue related to webtoons among surveyed companies was approximately 9,660.2 million Korean won, with paid content revenue constituting the largest share at 66%. The industry is driven by a plethora of key players, with leading names such as NAVER Corp., Kakao Corp., Lezhin Entertainment, Tappytoon, ToryComics, Toomics Global, Ridibooks (RIDI Corp), KidariStudio, Webtoon Factory, and Izneo Webtoon. These companies are not only driving innovation and captivating audiences but also contributing significantly to the industry’s growth and revenue generation.
Employment opportunities within the webtoon sector are also on the rise, as the “2023 Webtoon Industry Survey”4 revealed that the average number of employees in webtoon-related companies in 2022 was 46.7, with an average of 6.9 new hires. Notably, the proportion of female regular employees was higher compared to male regular employees in the surveyed companies, suggesting a positive trend towards gender diversity within the industry. The survey also highlighted that operational staff accounted for a substantial 63.8% of the workforce in webtoon businesses, indicating the significance of operational roles within the industry. The industry landscape is diverse, with companies employing various establishment methods. The survey revealed that the highest proportion (43.4%) of responding companies were newly established specifically for conducting webtoon business. Furthermore, the largest share of webtoon business fields among the responding companies was in ‘webtoon planning/production,’ accounting for 64.5% (2023 Webtoon Industry Survey).
The Korean webtoon market has experienced significant growth, with sales by agencies managing webtoon authors and content distribution reaching 534.7 billion won in 2020, an increase of 111.6% from the previous year, according to the Korea Creative Content Agency. The annual revenue surpassed the 1 trillion won threshold for the first time in 2021, continuing to see an increase in sales and surpassing the milestone of 1.2 trillion won (1 billion USD) (2023 Webtoon Industry Survey).
The webtoon industry has carved out a unique role as a source of fresh ideas for producers and screenwriters on the entertainment scene, with several hit TV series, including “Reborn Rich,” “Extraordinary Attorney Woo”, and “All of Us Are Dead,” being adapted from renowned web-based comics.
Overall, the South Korean webtoon industry has experienced remarkable growth, driven by domestic and international popularity, successful adaptations, diverse revenue streams, and a vibrant ecosystem of creators, production companies, and distribution platforms. While challenges like illegal distribution persist, the industry continues to expand globally, offering employment opportunities, business prospects, and captivating storytelling experiences that resonate with audiences worldwide.
While the industry continues to thrive, illegal distribution remains a persistent challenge. The estimated scale of the illegal distribution market for webtoons in Korea decreased to 721.5 billion won in the “2023 Webtoon Industry Survey,” but this estimate did not include unauthorized translations and distributions in other languages, suggesting that the actual scale of illegal distribution may be larger. The infringement rate of illegal replication sites for webtoons was determined to be 39.45%, representing a decrease compared to the previous year, but still a significant concern for the industry.
The Global Rise of Korean Webtoons: Reshaping Comics in the Digital Age
After achieving success in Korea, major webtoon players like NAVER and Kakao began exploring to create a global market for webtoon by investing heavily in international growth and expansion strategies. The “2023 Webtoon Industry Survey” revealed that 43.6% of companies were exporting their content overseas, highlighting the industry’s global aspirations and the potential for webtoons to resonate with audiences worldwide. Essential factors for overseas business success included interpretation and translation support, establishing networks with overseas buyers, and conducting thorough market research to understand the preferences and cultural nuances of international audiences.
Successful webtoons like “Lore Olympus” by Rachel Smythe have gained massive international popularity, with 1.3 billion views and 6.3 million subscribers as of May 2023, exemplifying the industry’s potential for global reach and the capacity of webtoons to transcend cultural boundaries.
What began as a domestic craze has rapidly evolved into a transformative force reshaping the global comic industry. With their strategic international expansion, Korean webtoon platforms are transcending boundaries and reshaping consumption patterns across diverse regional markets., Korean webtoons are poised to drive the next wave of comic market evolution worldwide.
Asia-Pacific Dominance
The Asia-Pacific region stands as the epicenter of Korean webtoons’ dominance, underpinned by South Korea’s technological prowess and the meteoric popularity of digital comics. This market experienced explosive growth, surging to a staggering $8.17 billion in 2021, propelled by the proliferation of Korean and Chinese webtoon content. Major regional players like Kuaikan, Bilibili, and Tencent Animation have harnessed this soaring demand, rapidly diversified their offerings and capitalized on the widespread appeal of Korean webtoon storytelling. The consumption statistics are nothing short of astonishing: In China alone, a remarkable 297 million users devour online comics, reflecting the world’s largest regional base for digital publishing. Kuaikan commands over 167.8 million monthly active users, while competitor Bilibili Comics witnessed its user base nearly quadruple from 7.4 million to 26.5 million between 2019 and 2021.
And this growth trajectory shows no signs of slowing. By 2026, the Asia-Pacific comics market is projected to reach a staggering $11.892 billion, with digital formats expected to command an impressive 26.7% market share. Korea itself occupies a commanding 23.7% of this colossal regional market, second only to the industry behemoth Japan at 62.8%. Yet the disruptive influence of Korean webtoons extends far beyond mere market share statistics. They have fundamentally reshaped consumption dynamics, captivating audiences with their cutting-edge digital interfaces, episodic binge-worthy narratives, and genre-bending creativity. From action-packed fantasies like “Solo Leveling” to supernatural romances like “True Beauty,” Korean webtoons offer an unparalleled diversity of captivating tales delivered in an optimized format for modern mobile lifestyles.
North American Expansion
While Asia stands as the heartland for webtoons, Korean platforms have mounted an aggressive expansion into the lucrative North American comic market. Valued at $2.075 billion in 2021, this market has undergone a profound digital transformation, with online comics projected to skyrocket from their current 10.8% foothold to a commanding 27.7% share by 2026.[2] Korean webtoon behemoths like Naver’s LINE Webtoon and Kakao Entertainment have been at the vanguard of this disruptive wave, weaponizing strategic partnerships and tactical acquisitions to gain unprecedented Western audience penetration. LINE Webtoon boasts over 82 million monthly active users spanning Asia and North America, while also collaborating with major comic book titans like Marvel and DC Comics.
Meanwhile, Kakao’s acquisition of platforms like Tapas Media and Radish Fiction have allowed them to channel a deluge of authentic Korean webtoon content to voracious English-speaking audiences. The blockbuster success of titles like “Love Advice from the Great Duke of Hell” hitting #1 during its debut underscores just how potent this content localisation strategy has become. Beyond the raw subscription metrics, Korean webtoons have catalysed a seismic shift in Western comic consumption culture. Their digitally optimized interfaces, combined with compelling serialized narratives starring charismatic anti-heroes and breathtaking fantasy worlds, have captured imaginations in a way traditional print comics struggle to replicate. Breakout hits like Rachel Smythe’s “Lore Olympus”, which has amassed over 1 billion global views and reaped multiple prestigious Eisner awards, exemplify the cross-cultural appeal and creative resurgence Korean webtoons have sparked. With hugely popular Marvel collaborations planned for 2024, this platform will likely emerge as the new standard for Western comic distribution.
Emerging Frontiers: Europe, Latin America, and Beyond
As Korean webtoon platforms continue to consolidate their dominance in established markets like Europe and Latin America, they are also strategically expanding their reach into promising new territories across South and Southeast Asia, the Middle East, and Africa. Armed with a potent combination of proven localization expertise, cultural capital, and aggressive funding, Korean titans such as Naver Webtoon and Toomics are leading the charge to penetrate these emerging frontiers.
In regions where digital consumption is on the rise, Korean webtoon platforms are actively launching localized services tailored to meet the unique preferences of diverse audiences. For instance, platforms like Naver Webtoon, Lezhin Comics, and Toomics are expanding their Spanish-language offerings in countries such as Mexico, Chile, and Argentina, capitalizing on the region’s growing appetite for digital content. According to market research, the Latin American comic market reached $55 million in 2021, with projections indicating sustained growth in digital consumption.
Moreover, collaborations with local players such as Social Comics in Mexico further enhance market penetration and cultural resonance. Beyond Latin America, Korean webtoon firms are also venturing into South and Southeast Asia, where internet connectivity is rapidly expanding, unlocking vast potential for digital comics consumption. Platforms like Toomics, Mr. Blue, and Bomtoon have already launched pioneering localized services in countries like Indonesia, Vietnam, and Thailand, tapping into the region’s diverse cultural landscape and storytelling traditions. Meanwhile, in the Middle East and Africa, where the comic market is still largely dominated by print formats, Korean webtoons are gradually gaining traction through unofficial channels like fan-translation communities. With a growing appetite for digital content, particularly among younger demographics, Korean platforms are poised to make official launches later this decade, capitalizing on the region’s evolving media landscape. The Middle Eastern comic scene, estimated at $32 million, presents a significant growth opportunity for Korean webtoon platforms as they prepare to enter the market officially.
Moreover, Korean webtoon platforms are not merely content with offering existing IP in digital formats; they are actively cultivating new creative pipelines centered around addictive, episodic content designed specifically for digital-first experiences. Initiatives like “Tapas” dedicated original content for the Indian market and Naver subsidiary Wattpad’s support for amateur writing communities worldwide underscore Korean webtoon platforms’ commitment to innovation and audience engagement on a global scale. These strategic initiatives represent the vanguard of Korean webtoons leveraging their cultural capital to gain first-mover advantage across promising frontiers. By anticipating and capitalizing on evolving audience preferences and consumption patterns, Korean webtoon platforms are poised to reshape the global digital comics landscape in the years to come, cementing their position as leaders in the digital entertainment industry.
The Digital Frontier
While the wider comic industry still grapples with maintaining relevance in an increasingly digital world, Korean webtoons stand out as paragons of how to fully embrace new technologies to reach and engage ever-broader demographics. Even previous industry titans like Japan and America have seen their comic crazes wax and wane over the decades. Yet Korea’s digital-native versatility seems primed to drive a new golden age of comic consumption renaissance. Backed by Korea’s world-class technological infrastructure and deep institutional investment into cutting-edge R&D initiatives, webtoons benefit from a unique synergy between creative talent and engineering expertise. This harmonized development pipeline is already paying dividends, ensuring Korea’s cultural exports resonate with global audiences across a dizzying array of digital platforms and interfaces.
With fast growth companies like Naver and Kakao aggressively executing ambitious international market penetration strategies, the Age of Korean Webtoons has potentially only scratched the surface of its full sphere of influence. As new digital entertainment markets keep unlocking worldwide, rapidly evolving online reading behaviors and consumption habits naturally will fall into alignment with the disruptive formats these pioneers have mastered. Fittingly, while most legacy comic publishers remain anchored to their aging print distribution models, Korea’s platforms have already pivoted fully towards future-proofing their digital infrastructures. In tandem with developing more sophisticated viewer data analytics tools, they are actively cultivating new pipelines for original content creation, publishing independent creators through avenues like Naver’s Wattpad subsidiary.
By opening new narrative frontiers spanning localized Korean mythology retellings and more diverse international creator talent pools, each global Korean webtoon service cements its position as the indispensable content nexus for this new comic age. As these digital platforms mature symbiotically with global internet growth, their dominance within the comic art medium feels increasingly inevitable. Just as Korea’s pop culture transcended its humble origins into a global phenomenon, webtoons look poised to become the prime driver of mainstream comic culture worldwide in the decades ahead.
Conclusion
Korean webtoons have emerged from their origins as a domestic digital comic phenomenon to become a transformative global force reshaping the entire comic artform and entertainment media landscape. Through their innovative mobile-optimized formats, visually captivating artistry, and deeply immersive serialized narratives, webtoons have captured audiences worldwide and spurred significant changes in how comics are consumed in the digital era. The economic impact of this “webtoon wave” is profound, with the industry expected to surge from $3.7 billion in 2021 to a remarkable $56.1 billion by 2030. In South Korea, webtoon sales soared to $1.23 billion in 2021, illustrating their emergence as a potent cultural export driving the nation’s creative economy. Yet, the influence of webtoons extends well beyond financial figures.
At its core, webtoons are reshaping long-established comic reading practices and fueling the evolution of entertainment consumption behaviors globally. Their vertical scrolling interfaces, seamlessly integrated with mobile lifestyles, have popularized binge-reading comic serials among younger demographics. The remarkable success of titles such as “Lore Olympus,” garnering over 1 billion views internationally, highlights how webtoons have revolutionized audience engagement with comic narratives through viral, digitally-optimized storytelling experiences.
As major Korean platforms like NAVER and Kakao aggressively expand into diverse regional markets, they are not only exporting webtoon content but also a new digital comic reading culture. Through ambitious globalization strategies involving localization, nurturing creator ecosystems, and leveraging technological advancements, these companies are positioning webtoons as the forefront of the next evolutionary phase in mainstream global comic consumption. Whether igniting media franchise frenzies through successful adaptations or reshaping how audiences discover, consume, and discuss new comic serials on online platforms, webtoons are undeniably reshaping and influencing the entertainment landscape. Their ascent demonstrates how innovative storytelling mediums, empowered by digital technologies and globalization efforts, can transcend borders and catalyze significant cultural shifts.
In essence, Korean webtoons epitomize a powerful convergence of creative ingenuity and technology-driven disruption – positioning them to redefine comic artistry and narrative experiences for a new generation of global entertainment consumers in the years ahead. Moreover, their influence on comic reading practices and entertainment consumerism worldwide underscores their profound impact on the cultural zeitgeist.
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