Naver Webtoon Establishes Webtoon IP Bridge Company
Naver Webtoon announced that it has established Studio N, an IP bridge company that adapts original webtoons to films.
Studio N serves a bridge role. By supporting the production and screen release of original work, it operates as a co-producer of film and drama series together with existing production companies. The aim of the subsidiary is the virtuous cycle of webtoon content from Naver, which has been nurturing the digital comics industry. The company intends to combine webtoons and web novels with the mediums of movies and TV dramas to expand their customer reach and diversify income resources for writers.
Studio N was formed with 100 percent of funding from Naver Webtoon and Mi-kyung Kwon, the former head of the Korean film business division at CJ E&M, has been named as chief executive. Kwon said “We will find the best way to express the original work of webtoons in films and dramas and differentiate our works to embody the webtoons’ unique characteristics and diversified stories on the screen.” She also added, “As an IP bridge company that collaborates with existing film and drama production companies, we will create a new win-win model and various success cases to explore our potential in the global market.”