An increasing amount of funds is flocking into the fast-growing web comics (called "webtoon" in Korea) and web novel market. Thanks to the rapid expansion of the mobile market, the demand for smartphone-based web comics and web novels is growing at a rapid pace.
The size of the web comics and web novel market is forecast to grow to about 1 trillion won this year from 200 billion won in 2013.
According to the venture capital industry on March 19, Me Entertainment, a romance-specific web novel platform, recently attracted an investment of 1 billion won from an investment firm The Turning Point.
Me Entertainment, which runs its own web comics platform "Me Novel," was founded in July 2016 with focus on romance web novels.
A web novel firm Joara is also receiving love calls from various investment suitors. Joara, founded in 2000, is one of the frontrunners in Korea's web novel market, vying with Munpia for the top spot.
Toptoon, a platform for web comics, recently launched pre-IPO investment ahead of its stock listing scheduled in 2018. Toptoon is now engaged in negotiations to attract investment from a handful of foreign investors.
Korea Scientists and Engineers Mutual-aid Association (SEMA) will commit about 20 billion won ($18 million) to a fund of Morgan Stanley Energy Partners (MSEP) for co-investment in a US water management firm, according to a local media report. The $4.2&hellip
South Korea’s National Pension Service (NPS), Public Officials Benefit Association (POBA) and Hyundai Marine & Fire Insurance Co. Ltd. are likely to commit $380 million to a blind-pool real estate fund which private equity firm Rockpoint Group is launching to&hellip
(Corrected: New overseas alternative head Young-shin Chung was not promoted from the position of domestic alternative investment head, but moved to the new position. First paragraph was corrected in that regard.) The Korea Teachers’ Pension on April 24 named its domestic&hellip