Naver Webtoon Invests 40 Billion KRW in New Production Company 'A2Z'
[Asia Economy Reporter Bu Aeri] Naver Webtoon has invested 40 billion KRW in a newly established webtoon production company.
According to the Financial Supervisory Service's electronic disclosure system on the 5th, Naver Webtoon secured a 26.7% stake in A2Z by investing 40 billion KRW on the 3rd. With this investment, A2Z's corporate value was estimated at approximately 150 billion KRW. The purpose of the acquisition is for business partnership and content acquisition.
A2Z is a newly established corporation founded in December last year, specializing in webtoon and animation content production.
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Naver Webtoon has recently been making aggressive investments to secure intellectual property (IP) to strengthen its global competitiveness. Last month, Naver acquired 100% of the shares of Wattpad, the world's largest web novel platform, for 600 million USD (approximately 660 billion KRW).
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