K-webtoons achieve record 2 trillion won revenue

Korean webtoons, known for their recent success in TV drama adaptations, continue to expand their influence across various entertainment genres. For the first time, the industry surpassed 2 trillion won in annual revenue, marking its sixth consecutive year of growth.

According to the 2024 Webtoon Industry Report, released on Wednesday by the Ministry of Culture, Sports, and Tourism and the Korea Creative Content Agency, the webtoon industry’s total revenue in 2023 reached 2.189 trillion won, up 19.7% from 2022’s 1.829 trillion won. The industry, which first exceeded 1 trillion won in 2020, has doubled its size in just three years. Revenue has increased steadily every year since the initial survey was conducted in 2018. The figures are based on data from 11 webtoon platforms and 236 agencies and studios.

Korean webtoons are also gaining traction overseas. In 2023, Japan accounted for the largest share of international webtoon revenue at 40.3%, followed by North America (19.7%), Greater China (15.6%), Southeast Asia (12.3%), and Europe (8.2%).

Most of the industry’s revenue (64.4%) came from platforms, but creators’ earnings lagged behind the rapid growth. In 2023, webtoon creators with serialized works earned an average of 42.68 million won annually, a significant drop from the previous year’s 64.76 million won. Industry experts attribute the decline to the rise of salaried creators working under contracts with webtoon studios, as well as increased specialization within the industry, with creators focusing on specific roles like writing, illustration, or storyboarding.


김기윤기자 pep@donga.com