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 Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip
South Korea’s Hanwha Asset Management Co. Ltd. will launch three global funds for infrastructure, real estate and private equity investments, with $1 billion commitments from two insurance units of its parent group. Hanwha Life Insurance Co. Ltd. and Hanwha General&hellip
An investment firm of South Korea’s Samsung Life Insurance Co. Ltd is forming a blind-pool real estate fund worth around 500 billion won ($443 million) with commitments from other Samsung financial units to acquire a building of the Organisation for Economic Co-operation&hellip