Millions follow Korean webtoons, and creators of the ‘manhwas’ are busy bringing in new creations every week. Korean webtoon developer ‘The Grim Entertainment,’ famous for its popular webtoons ‘Lookism’ and ‘Study on Fighting,’ has attracted about 14 billion won ($9.1 million).
The investment came from Korea Investment Partners, Naver Webtoon, Credit Guarantee Fund, and Innopolis. The Grim Entertainment is a webtoon studio founded in 2017 by webtoon writer Park Tae-joon.
The Grim Entertainment is publishing several famous works, including Park Tae-joon’s debut work, ‘Appearance Supremacy,’ Naver Webtoon’s overall popularity ranking, ‘Study on Yourself,’ ‘Chief Kim,’ ‘Quest Supremacy,’ and ‘The Death Penalty.’
The Grim Entertainment’s enterprise value is estimated at more than 100 billion ($81 million). Based on the large-scale investment attraction, The Grim Entertainment is embarking on a full-fledged expansion of the webtoon ecosystem. “We are preparing for various forms of collaboration with existing famous writers, and we plan to actively advance into various secondary creation markets such as animations, movies, and dramas by utilizing our webtoon IP (intellectual property),” Park Tae-joon, CEO of The Grim Entertainment, said. In addition, the developer plans to expand support for the ongoing amateur writers’ educational projects and strive to nurture and discover partner writers to work with.
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