Tapco Signs MOU with Chorokbaem Media

[Asia Economy Reporter Jang Hyowon] Topco (CEO Yoo Jungseok), the second largest shareholder of Topcomedia (CEO Yoo Jungseok), announced on the 14th that it has signed a memorandum of understanding for the selection of a preferred negotiation partner and related business cooperation in the field of producing secondary media content works such as dramas and movies based on webtoons with Chorokbaem Media.

Chorokbaem Media, the largest production company in Korea, signed the contract to produce media using webtoon IPs that are currently serialized or have been completed on Toptoon, a platform operated by Topco.

Topco operates the domestic premium webtoon platform ‘Toptoon’ and the English-speaking webtoon platform ‘Toptoon Plus,’ holding numerous webtoon IPs, while Metacraft (CEO Yoo Jungseok) is rapidly acquiring web novel IPs through the web novel platform Novelpia.

Chorokbaem Media acquired convertible bonds worth 6 billion KRW issued by Topcomedia in December last year, and recently also acquired common shares worth 4 billion KRW of Metacraft, strengthening its relationship as a strategic investor in the Topco group. Through this business agreement with Chorokbaem Media, Topco is maximizing synergy effects through the OSMU business and is advancing as a comprehensive content media company.

This content was produced with the assistance of AI translation services.