Webtoon expands Korea's comics market

Actor Yim Si-wan is featured on a poster for the 2014 tvN drama “Misaeng.” The hit drama was based on a webtoon of the same name by cartoonist Yoon Tae-ho. / Courtesy of tvN

By Kwon Mee-yoo

"Misaeng," a hit tvN drama depicting office life at a trading company that swept the nation last year, was based on Yoon Tae-ho's webtoon (web cartoon) of the same name. The 2013 movie "Secretly, Greatly," starring hallyu heartthrob Kim Soo-hyun, which attracted some 7 million viewers, was also based on a webtoon.

The new form of online-based comics has become a new driving force of Korea's comics industry.

According to research by the Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency (KCCC) released Monday, the Korean webtoon industry has grown to some 171.9 billion won ($155 million). The estimated size of the industry includes the cartoonist's fees (53.6 billon won), labor costs for cartoon assistants (26.8 billion won), advertising revenue (40.5 billion won) and paid contents earnings (11.2 billion won).

Webtoons account for a substantial proportion of Korea's comics industry, which was dull for a while in the early 2000s. The cartoon industry was about 436.2 billion won in 2005, but grew to 758.2 billion won in 2012.

The survey revealed that 4,661 cartoonists are providing 4,440 webtoons for online portals and other major webtoon platforms. Among them, 748 webtoons were paid contents.

The price of webtoons varied widely, with the best earners receiving around 5 million to 6 million won per episode, while newbies received some 1 million won per month. In addition to the fees, web cartoonists also make profit by drawing commercial webtoons and participating in product placement advertisements (PPL).

More webtoons are making their way out of the monitor to small and big screens. In 2014, 73 webtoons were made into movies and 50 have already reached screens.

The KCCC said webtoons are a unique platform for comics developed in Korea and they encompass a wide range of themes and materials which has a potential for international success.

"The government should support localization of webtoons by providing proper translation based on understanding of the local culture," the KCCC said in the report.