What We Learned About the Webtoon Industry
And how we realized that we knew nothing
Our company is rapidly changing. We are pivoting from an aggregator of fanmade comics to one that works with artists and publishers to help them & their content reach a global audience.
We envision a world where comics are affordable and accessible to everybody from artists who can make a living following their passion — making comics.
To do so, we have to understand the comics market. One market we have no clue about is Korean webtoons. One conversation led to another with the event organizers. Then we ended up at the 3rd Annual Busan Webtoon Festival in Busan, South Korea.
Festival Background
Organized by the Busan Webtoon Artists Union (BWAU), the 3rd Busan Webtoon Festival was a sight to see. It drew attention from not only local webtoon fans, but also artists and visitors around the world.
As the only festival organized solely by webtoon artists in South Korea, it showcased over 200 pieces of artwork from more than 60 artists from all over the world, including Taiwan, Japan, and even France. It also hosted webtoon artist talks, live drawing shows, and cosplay events.
Understanding Busan Webtoon Comics Union
Formed in 2012, nearly 200 aspiring and successful artists have joined the BWAU to protect and support the webtoon artists community.
Led by Oh Young-Seok (union chairman and author of the hit webtoon series Dokgo), the union fosters mentorships between new and experienced artists. The well-known members even act as “soft gatekeepers” who guide newcomers into the competitive industry.
Insightful Conversations
During our visit, we were fortunate enough to meet with many local and veteran comics artists like Nam Jeong Hun — director of the 3rd Busan Webtoon festival and author of the webtoon series I.
Our meeting felt very welcoming. We met with more than ten senior members of the union. Over two hours, we actively listened to their stories and experiences of the webtoon industry.
With an open mind to their insights, we learned a great deal. Here’s what we found out.
- Very few options exist for self-publishing
- The current trend behind the goals of webtoon artists is to achieve global success and have their work adapted into films and other mediums.
- To reach the overseas audience, local artists depend on comics agencies (gatekeepers). This is because of language barriers and unfamiliarity with non-Korean comics platforms.
- There is a lack of transparency when it comes to revenue forecasting and reporting by publishers.
- Little trust is given to new platforms. In the past, many foreign businesses proposed but never delivered on their promises to help Korean artists grow beyond South Korea on their platforms.
Making Progress
Traveling to the 3rd Busan Webtoon Festival, we weren’t sure if we would be welcomed or hated. But we couldn’t be happier with the outcome. We connected with passionate webtoon artists and received valuable information about the industry.
There’s no doubt that trust is a big problem. That’s why it’s our top priority to build a foundation of strong relationships to prove we are serious about disrupting the comics industry.
We are well aware that our vision may seem too good to be true for some people. But we are confident we can make it a reality.
Special thanks to Oh Young-Seok, Nam Jeong Hun, and the members of the Busan Webtoon Artists Union for meeting with us and sharing their thoughts.
