"I hope more books go into a second print run than bestsellers"

Interview with Park Tae-geun, Head of Wisdom House
Editor → Online Bookstore MD → Publisher Manager
Publishing Marketing Challenges... Trend Towards Building Communities for Direct Reader Engagement
Rising Popularity of Adaptations... Emergence of Publishers Specializing in Adaptations
Increase in Publishing Without Publishers... Need to Rethink the Role of Publishers
Discovering Authors is the Publisher's Mission... More Important to Increase Second Printings than Bestsellers

[Asia Economy Reporter Seo Mideum] There is a figure who often frequented bookstores since childhood. Rather than the 'emotion' of literary works, he was captivated by the 'utility' of books. When he was in the 5th grade of elementary school, after devouring the book series ‘Bangapda Nonriya’ (Nice to Meet You, Logic), he stood out in verbal battles with neighborhood kids. Then, in middle school, he met friends who truly loved literature and gained an awakening: the familiar stimulation of the tongue was not the true taste of books...

Park Tae-geun (40, pictured), head of Wisdom House, became a book lover in this way. Like many book lovers, he says he "was not a voracious reader," but he certainly delved deeply into books. During his youth, he read ‘My Cultural Heritage Travelogue’ and visited Buseoksa Temple’s Muryangsujeon Hall with friends. In college, he busily went back and forth between Pulmujil and Nonjang bookstores near campus, immersed in the book market. He enjoyed the romance of bookstore events where, after freely reading books for a period, you could find a book with a specific passage and receive a prize.

He is not a person who worries much. Facing career decisions after college graduation, he decided to sell books he knew well. After being deeply impressed by the book ‘West and East Exchange E-MAILs for 127 Days’ (Humanist), he joined Humanist as an editor in 2006. When the online bookstore boom occurred in 2010, he found interest in the book exchange arena and moved to Aladin as a merchandise planner (MD), working there for 10 years.

Last year, he moved to the comprehensive publishing company Wisdom House as head of the division. Park, who has written, sold, and managed books, might be one of the most knowledgeable people about books and the publishing industry. He is currently in charge of book segments on radio broadcasts of the three major terrestrial broadcasters. Although he modestly declined, saying "I cannot dare represent the publishing industry," we asked him to honestly share only his experiences. The interview was conducted on the 22nd of last month at Wisdom House headquarters. Below is the Q&A.

- You moved to Wisdom House last year.

▲ I am in charge of Korean novels, humanities and general knowledge, and economics and management fields. For Wisdom House, which is strong in essays and such, this was a new attempt, and I found it interesting, so I accepted the job offer. Unlike most publishing companies with owners, Wisdom House operates under a professional management system. The head of the editorial division is given considerable authority. I participate in the entire process from planning to marketing. The team consists of about 20 members, so you can consider it a medium-sized publishing company.

- There are talks that a cold wave hit the publishing industry in May and June after social distancing was lifted.

▲ Many publishers say their second-quarter sales were not good. It seems related to the lifting of social distancing. The children’s book sector grew during the COVID-19 situation but then declined, and there are also stories that the supply market is not like before. However, some places are still doing well. Since this was predictable, it is ambiguous to point to that as the sole cause.

- In fact, the phrase "the worst recession since Dangun" is heard every year. With the advent of the video era, there are claims that books are in crisis.

▲ Industry people find some consolation in that phrase, but I think that’s about it. The number of published titles is actually increasing. More attempts are being made. Would such a situation happen in a dying market? The phrase "the worst recession since Dangun" does not help to resolve the situation. It is more realistic to talk about specific immediate challenges. First, we need to think about what a book is. Nowadays, books are also consumed as videos, web novels, and webtoons. But is that a crisis? Recently, publishers have collaborated with video production companies. For example, ‘Sampro TV’ collaborated with Forest Books and Page2 Books, which published books and achieved medium-sized publisher sales in a short period. Saying it’s a crisis is inappropriate.

- Complaints from publishing marketers are heard here and there. There are sighs that they have tried everything possible. As someone who has worked as an editor, online bookstore MD, and publishing manager, what do you think?

▲ I sympathize with the difficulties of marketers. The channels they used to communicate and collaborate with, such as bookstores, have changed a lot compared to 10 years ago. The same goes for media book sections. It used to be important to advertise books in prominent places on online bookstores, but now influencer channels have become more important. Publishers are actually spending more money there. Promotion channels have diversified, so SNS and (in the case of children’s books) mom cafes must also be managed. However, diversified channels are less stable, so new attempts must continue. There is no guarantee that a good channel will work next time or even exist then. So it’s inevitably hard... By the way, our team’s catchphrase this year is ‘the greatest number of attempts.’ We plan to try various approaches.

- It seems that publishers are increasingly communicating directly with readers.

▲ Large publishers are creating their own communities. Minumsa runs YouTube ‘Minumsa TV,’ Munhakdongne operates the complete reading challenge platform ‘Dokpa,’ and Changbi runs the reading experience platform ‘Switch.’ They invest manpower and capital to secure spaces to meet readers directly. The larger the reader pool, the more stably they can lead. Wisdom House also has a ‘Story Reader Team.’ Before a book is published, they gather ten readers each from ten local bookstores, deliver advance copies, and reflect their opinions in the official publication. Nowadays, the first print run is about 2,000 copies. One hundred people is not a small number. Participants are ‘heavy readers’ and their feedback is very helpful. Small publishers expand their reader pools by issuing newsletters with their own unique colors. Marti, Owol’s Spring, and Yuyu are examples.

- Marketing collaborations among small publishers seem frequent these days.

▲ Collaboration models are not easy to last long. Publishing starts from the desire to create one’s own world. Identity is important, so while temporary cooperation is possible, long-term collaboration is difficult. Some successful cases are unique. They were possible because market success supported them, but generally, they are temporary.

- Collaboration with video companies is also noticeable.

▲ Recently, East Asian publisher imprint Hubble collaborated with CJ ENM. Video production companies like Safe House and Gozneok ENT have also established publishing companies. Writers have strong desires and expectations for video adaptations. Video adaptations are not only about profit but also opportunities for texts to be expressed and delivered in various ways, so I think this interest is natural.

- Publishing without going through publishers is increasing. It seems necessary to consider the role and identity of publishers.

▲ What publishers have done well is deeply understanding texts and creating physical forms that attract readers. But recently, I feel that readers’ expectations and publishers’ supply are not aligned. Whether proofreading is well done, the layout is good, or (in academic books) footnotes are solid?these have been undervalued even within the industry. Publishers focused only on publishing books that sell, and as a result, readers’ expectations lowered. Publishers lost competitiveness. If publishers cannot cultivate a certain ‘discernment’ in readers, authors will not feel the need to publish through publishers, and readers will not feel the need to buy books from publishers.

- Nevertheless, events like book fairs attract crowds. It seems difficult to ignore the basic charm of books. What do you think books, editors, and publishers should focus on?

▲ While making bestsellers is important, it is necessary to consider 2,000 to 3,000 people who must definitely meet the book rather than the vast majority. The expected readers should be much more niche than just ‘women in their 20s and 30s.’ Raising the average value of books and reducing the number of books that cannot have a second print run is important. Raising the lower limit. The upper limit has dropped a lot compared to before. If the past expectation was 300,000 copies, now it is 100,000. Demand has segmented according to generational interest in authors, interest and acceptance of topics covered in works, and I expect this trend to strengthen.

- Usually, publishers focus marketing efforts on books that seem likely to sell well.

▲ At Wisdom House, rather than dividing books into strategic and non-strategic, we think about finding suitable attempts for each book. Each book has its own purpose. We want to faithfully convey that to readers. Cases where interest and sales concentrate are necessary and helpful, but every book has its role. The same goes for practical and academic books. When authors like Seol Min-seok or Chae Sajang explain knowledge in the language of culture, primary sources are needed, right? That is too undervalued. Even within the publishing industry, I think ‘respect’ or ‘recognition of presence’ is needed. Even without government support, each publisher should consider self-help measures such as providing some support.

- Discovering authors seems important too. What efforts are you making?

▲ Discovering authors is the mission and fate of publishers. I believe publishers need to take a leading role. There are many authors not discovered in the existing market. To publicize their stories, someone must make judgments. That is the publisher’s role. I believe it helps to proactively set and challenge one’s role in any situation. In the past, there were many publishers and few authors; now it is the opposite. We focus more on discovering new authors than competing for famous ones.

- What qualities do you consider important when discovering authors?

▲ There are many qualities, but I value the ability to create stories the most. What is most attractive in this era is stories. The popularity of essays is for that reason. The bestseller ‘There Are No Fish’ (Gom Publishing) is more a storybook than a science book. Storytelling in the knowledge domain is an essential quality for authors. How interesting and attractively they present knowledge is as important as how much and deeply they know. When readers recommend books, they usually say, ‘This book is really fun.’

- It seems that individuals are more focused on than society, and empathy more than lessons. How is the publishing industry responding to these changes?

▲ Broadly speaking, there is a trend. There are various attempts. I hope this is viewed positively. It would be good to encourage ourselves that we are doing well despite difficult circumstances. Minumsa publishes the ‘Hanpyeon’ series, Owol’s Spring publishes books on Korean social issues regardless of scale, which I consider an amazing challenge. The one-person publisher Bomnal’s Book has created a brand mark that readers recognize just by the cover. Also, many stock market books are coming out these days; there is no need to find that strange. They respond quickly to market expectations. It is natural that many are published.

- What would you like to say to readers?

▲ I cannot ask you to buy more books. But I hope you actively share your impressions, whether good or bad, about the books you read. It could be through bookstore review channels or conversations with people around you. Sharing very personal experiences and activities is a great help to publishers.

Introduction to Park Tae-geun, Head of Wisdom House

He is a nationally recognized leading storyteller of books. He entered the publishing industry in 2006 as an editor at Humanist and worked as an MD (merchandise planner) at Aladin bookstore from 2010. Last year, he moved to Wisdom House as head of the division. He appears on many book-related broadcasts such as KBS FM Daehangjin ‘Bookstagram,’ MBC Standard FM ‘Kim Gyeoul Book Club,’ and SBS Love FM ‘Kim Seonjae’s Let’s Play with Books.’

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