South Korea Is Creating a More Expansive Plan to Grow Its Comics and Webtoon Industry
The ambitious project seeks to establish this sector as a premium network and host an international festival and awards ceremony for comics and webtoons, among others
The ambitious initiative comes on the heels of the comics and webtoon industries' recent exponential expansion, as well as the popularity and sustained economic success of webtoon-based K-dramas.
The South Korean Ministry of Culture, Sports, and Tourism has issued a press release outlining its ambitious future models aimed at fostering the expansion of its comics and webtoon industry.
This follows in the wake of the sector’s growth rising by a substantial 23% in 2022 to reach KRW 2.624 trillion per the report. By breaking past USD 100 million for the first time, its foreign expansion helped its exports climb by KRW 107.64 million, cementing the industry as a rapidly expanding sector and propelling future growth for Korean content.
The commercial viability of webtoon-based K-dramas, such as What’s Wrong with Secretary Kim (2018), Itaewon Class (2020), Sweet Home (2020), True Beauty (2020), Hellbound (2021), All of Us Are Dead (2022), Business Proposal (2022), Moving (2023), to name a few, or the latest hit titles, like Marry My Husband and The Bequeathed, attests to webtoons remaining a growing trend and an essential conduit for further boosting the reach of Korean content in overseas markets.
To maximize its potential on this platform, Yu In-chon, Minister of Culture, Sports, and Tourism, has established the “Direction of Comics and Webtoon Industry Development.” He believes that comics and webtoons will grow into a new cornerstone of Korean content, succeeding K-pop, K-dramas, and games and that by leveraging every tool at their disposal, they’ll be able to make substantial advances. The ambitious drive encompasses the following major initiatives:
To establish a premium national network for webtoons and comics like Netflix in the first place. Promising new firms will receive assistance by way of data dissemination on overseas markets and consultation upon admission. Furthermore, a global event showcasing the appeal of Korean webtoons and comics will take place.
Secondly, the Ministry of Culture and Sports Tourism will develop a range of training programs based on the Korean Academy of Film Arts and the Game Institute. Beginning in 2027, a talent academy for comics and webtoons will be included in the curriculum. This year, industry-specific education will be accessible. Furthermore, an altogether innovative program aimed at training job-specific specialists is in the works, while next year promises the debut of an exclusive program dedicated to cultivating creative talent. Establishing a center to provide editing and translation services, as well as training translators with specialized knowledge of webtoons, will be promoted concurrently.
Next up on the agenda is to stage an avant-garde international comics and webtoon festival in South Korea in autumn, uniting consumers, creators, and industry players. Likewise, to honor notable works and recognize industry experts, the “International Cartoon and Webtoon Awards” (working title) will be hosted.
Finally, the program calls for the creation of a comprehensive support system under the Ministry of Culture, Sports, and Tourism, alongside an overhaul of the industry-focused legal system, to reinforce the entity and enhance its credibility and growth. It includes implementing new legislation for the comics and webtoon industry, establishing business networks, and implementing self-assessment tools.
