Naver Webtoon’s economic ripple effect reaches $3.2 bn in 2023

[Provided by Naver Webtoon Ltd.]

Naver Webtoon Ltd., South Korea’s leading webcomic platform, generated 4.35 trillion won ($3.2 billion) in economic ripple effects last year, a study showed on Tuesday.

According to a study conducted by Professor Yoo Byung-joon from Seoul National University and Lee Jae-hwan from Chungnam National University, with support from Naver Webtoon, Naver Webtoon has contributed immensely to the Korean economy.

An economic ripple effect reflects a monetary calculation of production and value-added effects.

Global influence of Korean webcomic content via the platform contributed to 2.46 trillion won.

Naver Webtoon is also estimated to have created 18,876 jobs.

The study also showed that the number of new amateur works increased by 26.84 in the platform for each additional language translated by Webtoon Entertainment Inc., the parent company of Naver Webtoon.