[SBA x IT Donga Joint Planning] The Seoul Metropolitan Government and the Seoul Business Agency (SBA) have established startup hubs (centers) in Chang-dong, Seongsu, and Dongjak, Seoul. They support and nurture startups through stage-specific programs from initial startup to growth phases. Here are promising startups with high growth potential that have shown remarkable activities by 2025.
Fortune Business Insights predicts that the global webtoon market size will reach USD 8.17 billion (approximately KRW 11.42 trillion) by 2025, growing at an annual rate of 6.89% to become a USD 13.04 billion (approximately KRW 18.24 trillion) market by 2032. Among these, the Asia-Pacific region's market share in 2024 is expected to be 48.75%, with strong demand and supply in the markets of Japan, Korea, and Southeast Asia.
South Korea is establishing itself as a notable country in the global webtoon market, with a clear growth trend in the domestic webtoon market. Naver Webtoon recorded sales of KRW 488.9 billion in the second quarter, and Netflix and KakaoPlus are consistently releasing works based on popular domestic webtoons, driving market growth. Consequently, while demand for high-quality webtoons is increasing, the process of matching skilled creators remains challenging and slow. A Young Man Who Loved Webtoons Steps Up to Solve Structural Problems in the Market
The idea to plan a webtoon matching platform came while watching works like 'Solo Leveling,' 'The Youngest Son of a Swordmaster,' and 'The Youngest Son of a Conglomerate.' CEO Yoon stated, "Seeing high-quality webtoons emerge with just a week's work, I anticipated an era where multiple creators work as a team, making it difficult for solo creators to survive. However, team work requires considering more costs and human issues. Spin-off was planned to solve these problems."
Works That Can Be Adapted to OTT, Overseas Contracts Also Progressing
From Startup to VC Introduction··· Adding Potential with SBA
Despite being highly evaluated for its potential, having attracted investment just a month after its founding in July 2022, the Seoul Business Agency (SBA) also provided support. CEO Yoon introduced, "Around 2023, we completed all support projects like the Pre-Startup Package and Youth Startup Academy, facing difficulties in securing an office. At that time, I applied after seeing the office support announcement at SBA's Seoul Startup Hub Chang-dong, and from June 2023 to this June, I was able to focus solely on the business without worrying about the office. Currently, we have secured an office at SeedCube Chang-dong across the street, and we continue the business with great support for office admission."
In addition to office support, SBA provided support through networking with venture capital firms, introductions and connections with startups residing within SBA, and external promotional support to raise awareness of Spin-off. Opportunities for business consulting or education were also offered whenever possible.
IT Donga Reporter Nam Si-hyun (sh@itdonga.com)
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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