Gaming industry expands into Webtoon and Web novel industry

▲This photo provided by JTBC show a scene from 'Reborn Rich.' (PHOTO NOT FOR SALE) (Yonhap)

SEOUL December 17 (Yonhap) -- Success of South Korean drama “Reborn Rich,” which was funded by South Korean gaming company Com2us, gaming industry which is extending its business to media, webtoon and web novel are attracting the spotlight.

According to the data released by media content industry, South Korean drama series “Reborn Rich” was the only series to exceed over 20 percent viewing rate.

Company Raemongraein which is one of the production companies of the popular series “Reborn Rich” is a subsidiary of wswgstudio which is a subsidiary of Com2us.

Image 9 Comms which is one of the members of Com2us family participated in the production of Netflix series “Remarriage and desires,” and “Recruit” by ENA which came out earlier than “Reborn Rich.”

Come2us is not the only gaming company participating in the production of the media content development.

Nexon, decided to buy out 5 billion won worth of global movie company AGBO and became a major shareholder, and participated in the production of “Rebound” by director Jang Hang-joon.

Netmarble signed a contract with one of the subsidiaries of CJ ENM, Studio Dragon to help out with the development of dramas and games. Studio dragon’s well known production “Arthdal Chronicles” is currently under the development as a mobile game.

Investment in webtoon and web novel market are very active.

NC Soft is continuing its webtoon and web novel service “Bufftoon” which kicked off in 2013.

Although Bufftoon started off its business later than Kakao or Naver, they are actively collaborating with various media outlets such as MBC building up their strength.

NHN which started off at the similar time era with NC Soft under the name of Komico, released another platform in 2020 called “Pocket Comic” aiming at the market of north America and Europe.

Moreover, NetmarbleFNC created a webtoon and web novel studio called “Studio grigo” and Krafton also showcased Webtoon with the background of PUBG universe.

“Due to COVID 19, development of content industry has expanded very widely, and the expectation of the users also increased,” adding “Gaming industry will escape from reusing the existing IP to create new various OTT and collaborate with webtoon and web novel industry to find a new IP.” addressed professor of Donyang University, Kim Jeong-tae.

(This article is translated from Korean to English by Joonha Yoo)

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