When Bae Jin-soo made the bold decision to pursue a career in writing stories through webtoons, his parents were less than thrilled. In fact, they were so upset that they ended up kicking him out of their home. However, despite the initial backlash, Bae’s determination and hard work eventually paid off. Today, he is considered one of the most prominent figures in South Korea’s billion-dollar webtoon industry.
The Growth of Webtoons
Webtoons, which are online-only, mobile-friendly comics, have experienced tremendous growth worldwide since their inception in South Korea two decades ago. Webtoon Entertainment, the leading digital comics hosting platform, has recently filed for an initial public offering (IPO) on the Nasdaq stock exchange in the US. With backing from the South Korean tech giant Naver, Webtoon is projected to reach a valuation exceeding $2.6 billion post-IPO.
Bae Jin-soo’s journey to success was far from easy. Starting out with no formal training in drawing, he found himself facing criticism from both his parents and peers. Despite these challenges, Bae taught himself to draw by observing his surroundings and practicing diligently while working odd jobs to make ends meet. The feedback he received from early readers, though critical of his drawing skills, encouraged him to focus on developing engaging storylines.
South Korea’s ultra-fast internet speeds and tech-savvy population have contributed to the rise of webtoons as a global cultural phenomenon. From a market value of $109 million in 2013, the webtoon industry in South Korea has grown exponentially to $1.33 billion in 2022. Naver’s Webtoon platform boasts approximately 170 million monthly active users from over 150 countries and has paid creators more than $2.8 billion from 2017 to 2023.
From Page to Screen
The popularity of webtoons has spilled over into other forms of media, inspiring successful K-dramas and film adaptations. Series like “Misaeng”, “Yumi’s Cells”, and “Marry My Husband” have drawn inspiration from webtoons, attracting a global audience. The success of webtoon-based dramas has paved the way for a new wave of storytelling that resonates with audiences both in South Korea and abroad.
Despite the growing trend of turning webtoons into TV shows and movies, many readers still prefer the original format. The immersive nature of reading webtoons online allows stories to unfold dynamically, engaging users as they scroll through panels. Creators like Bae Jin-soo have capitalized on this interactive experience, crafting narratives that play on themes of isolation, chaos, and suspense through visually compelling storytelling techniques.
Diverse Themes and Diverse Audiences
Webtoons cover a wide range of themes, catering to diverse audiences worldwide. Creators have delved into topics that resonate with younger generations, exploring issues like financial struggles, social pressure, and personal growth. Bae’s webtoon “Money Game”, which inspired the Netflix series “The 8 Show”, tackles themes of debt, survival, and competition in a high-stakes game scenario.
The success of webtoons in South Korea and beyond is a testament to the power of storytelling and the creativity of aspiring artists like Bae Jin-soo. As the webtoon industry continues to evolve and expand, it offers a platform for innovative storytelling that captures the imagination of audiences around the world.