Korean webtoon platforms are making significant inroads into the North American market, previously considered a “barren land” for webtoons. As Naver Webtoon prepares for its Nasdaq listing, Kakao Entertainment’s North American webtoon platform, Tapas, is experiencing rapid growth. According to global market analysis firm Sensor Tower, Tapas generated $65 million in in-app purchases over the past two years, making it the top app in the U.S. for both webtoons and web novels. This achievement comes just three years after Kakao Entertainment acquired a local platform in 2021.
What is the secret behind the rapid global expansion of Korean webtoons? Kang Jung-goo, head of Kakao Entertainment’s Global Story Business Division, cites a dual strategy of “localization” and “exporting domestic works,” along with targeting niche markets. He highlighted the top three webtoon titles on Tapas by cumulative transaction amount.
The top title is “The Beginning After the End,” which might be unfamiliar to Korean readers. It was specifically created for the North American market, based on a web novel by Korean American author Brandon Lee, who writes under the pen name TurtleMe. This fantasy series about the growth of protagonist King Grey is currently in its sixth season. The original novel, written by an author familiar with local cultural contexts, and the adoption of a weekly serialization system, which is new to the U.S., exemplify the process of adapting the “Korean webtoon platform” to the local market.
The second and third titles are “Solo Leveling” and “A Business Proposal.” Both were successful web novels and webtoons in Korea before being exported. “A Business Proposal,” a modern Korean romance, has also been well-received in North America, leading to a positive feedback loop where fans of the drama adaptation seek out the original webtoon. Kang noted, “We wondered if overseas readers would understand the concept of ‘matchmaking,’ but ultimately, ‘the power of the story’ is what matters. Works that are successful in Korea also do well overseas.”
Considering the unique characteristics of the North American market, which is dominated by print comics, efforts are being made to publish single-volume editions. “A Business Proposal” sold over 40,000 copies from its release in May last year to the end of the year, averaging 5,000 to 6,000 copies per month. This performance is noteworthy compared to top-selling titles like “Batman” (10,000 to 15,000 copies per month) and popular Japanese mangas such as “One Piece” and “Demon Slayer: Kimetsu no Yaiba” (10,000 copies per month).
Tapas’s main users are women aged 10 to 30, with 60% under 24 and about 80% female, contrasting with the North American comic market’s primary demographic of men in their 30s and 40s. Kang explained, “We are targeting and expanding a new market by creating a different customer base from the mainstream market.” This shift aligns with the growing demand for female-driven narratives over male hero stories. This strategy reflects the established trend in the Korean webtoon industry, where the romance genre dominates, and female customers aged 10 to 40 are the major spenders. Kang predicts, “We expect the U.S. market to gradually grow in this direction as well.”
