Naver Webtoon CEO Kim Jungoo Receives Presidential Citation at the 2021 Korea Content Awards
[Asia Economy Reporter Kang Nahum] Naver Webtoon announced on the 8th that its CEO Kim Jun-gu received the Presidential Citation in the Overseas Expansion Merit category at the '2021 Korea Content Awards.'
CEO Kim was recognized for promoting the value and competitiveness of K-webtoons in the global entertainment market. Since introducing comic services to Naver in 2004, he created a domestic creator ecosystem under the new format and name of 'webtoon.'
Since 2014, he has built global services in 10 languages including English, Japanese, Thai, and French, enabling domestic artists to showcase their works on the world stage.
The reason webtoons quickly rose as a representative K-content is the PPS (Page Profit Share) program, a creator revenue model first introduced by Naver Webtoon in the industry.
The PPS program is a business model that combines webtoons with platform-generated revenues such as advertising, paid content, and intellectual property (IP) business, in addition to the traditional manuscript fees, allowing creators to focus on their creative activities based on stable income. The total scale of Naver Webtoon's PPS program reached approximately 1.07 trillion KRW over the past 12 months.
CEO Kim said, "Today's Naver Webtoon is the result created by excellent creators and readers who discover great works," adding, "We will strive to contribute to strengthening webtoons' position as a globally recognized pillar of the Korean content industry, alongside music and dramas."
Hot Picks Today
"Only Two Per Person" Garbage Bag Crisis Was Just Yesterday... Japan Also Faces Shortage Anxiety
- "Samsung Electronics Employee with 100 Million Won Salary Receiving 600 Million Won Bonus... Estimated Tax Revealed"
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- 'Will Demand Finally Decline Due to High Prices?'... "I'll Just Enjoy Nearby Trips" as Japan and China See a Surge
- "Wore It Once, Then This? White Spots All Over 4.15 Million Won Prada Jacket... 'Full Refund Ordered'"
Meanwhile, the 'Korea Content Awards,' hosted by the Ministry of Culture, Sports and Tourism and organized by the Korea Creative Content Agency, annually honors individuals and works that have contributed to the development of the Korean content industry. The Overseas Expansion Merit category is awarded to those who have made significant contributions to spreading Hallyu and enhancing its status through overseas content expansion.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
