KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
No Result
View All Result
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Entertainment

Naver, CJ ENM Secures Korea’s Third-largest Web Novel Platform Munpia

 4,772 total views,  1 views today

James Jung by James Jung
PUBLISHED: May 31, 2021 UPDATED: May 31, 2021
in Entertainment, Naver
0
Naver Corp. partners with CJ ENM to acquire Munpia Inc., South Korea’s third-largest webtoon platform, expanding its content portfolio.
Naver Corp. partners with CJ ENM to acquire Munpia Inc., South Korea’s third-largest webtoon platform, expanding its content portfolio.

Naver Corp. partners with CJ ENM to acquire Munpia Inc., South Korea’s third-largest webtoon platform, expanding its content portfolio.

Naver Corp., an industry-leading South Korean search engine operator, announced that it partnered with CJ Group’s CJ ENM to secure Munpia Inc. The Munpia acquisition marked the first cooperation between Naver and CJ ENM since their stock-swap deal last year. In October 2020, the two companies strategically signed a 600 billion won ($538 million) agreement to create synergy in their logistics and entertainment content businesses.

Naver also shared that it plans to produce globally competitive entertainment content through the stock-swap deal with CJ ENM. Moreover, the Naver-CJ ENM collaboration would provide funding for content creators. It would also boost their standing in the e-commerce and intelligent logistics sector.

Acquiring Munpia

Investment banking sources stated that the Naver-led consortium, which includes local private equity firms, signed a share purchase agreement. Under the deal, the consortium would acquire a 64% share in Munpia and secure its management rights.

Previously, a consortium involving KDB Capital, S2L Partners, and Munpia founder Kim Hwan-Cheol held Munpia’s management rights. Furthermore, Munpia’s founder and CJ ENM would each obtain a 10% share from CLL’s 20% share. CLL, the Chinese tech company Tencent Holdings’ investment unit, is Munpia’s second-largest stakeholder.

Increasing Competition with Kakao

Another South Korean webtoon giant, Kakao Corp., previously showed interest in acquiring Munpia in partnership with NCSoft Corp. However, both companies relinquished the deal last minute. NCSoft is also Munpia’s third-largest stockholder.

According to Naver, it acquired Munpia due to Kakao’s rapid growth in the webtoon industry. Moreover, Naver was the top webtoon service operator in Japan, one of the world’s biggest online comic markets. During 2020’s second half, Kakao’s Piccoma outperformed Line Manga, Naver’s Japanese webtoon unit, taking the top Japanese market spot.

Boosting Content Portfolio

Recently, Naver has been increasing its merger and acquisition transactions. For instance, Naver acquired Wattpad Corp., the world’s largest web novel platform, for 653.3 billion won ($593.6 million) in January. Similarly, in February, Naver invested 33.4 ($30 million) billion won to Tappytoon Comics, a leading US web novel platform.

Munpia is South Korea’s third-largest web novel platform, ranking right after Naver and Kakao. The company also draws a 100-million page view average and more than 400,000 monthly visitors. Currently, Munpia’s platform supports over 47,000 writers.

After acquiring Munpia, Naver would boost its content offering by adapting IPs into various media content, including movies and games. Last year, Munpia recorded a 7.3 billion won ($6.5 million) operating profit. Munpia also logged a 41.7 billion won ($37.5 million) revenue, a massive increase from 2019’s 28.7 billion won.

Check out other must-read articles from KoreaTechToday:

  • Naver, CJ Sign 600 Bln Won Share-Swap Deal to Strengthen E-Commerce
  • Kakao Enters OTT Sector with 25 Bln Won Acquisition of Streaming Firm INISOFT
  • Naver Introduces World’s Largest Korean Language AI Model HyperCLOVA
  • Kakao Entertainment Finalizes Acquisition oF Radish Fiction, Tapas Media
What’s your thoughts?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
Tags: CJ ENMCJ GroupNaverweb novelwebtoon

Related Posts

Naver Cloud to support Korea Tourism Organization with APIs and cloud technologies
Naver Corp. partners with CJ ENM to acquire Munpia Inc., South Korea’s third-largest webtoon platform, expanding its content portfolio.
Naver

Naver Cloud to support Korea Tourism Organization with APIs and cloud technologies

March 30, 2023
Naver HTTP3
Naver Corp. partners with CJ ENM to acquire Munpia Inc., South Korea’s third-largest webtoon platform, expanding its content portfolio.
Naver

Naver becomes the first Korean platform to upgrade to HTTP/3 for a faster search service

November 16, 2022
Naver joins RE100
Naver Corp. partners with CJ ENM to acquire Munpia Inc., South Korea’s third-largest webtoon platform, expanding its content portfolio.
Naver

NAVER becomes Korea’s first Internet company to join RE100

August 24, 2022
Naver webtoon
Naver Corp. partners with CJ ENM to acquire Munpia Inc., South Korea’s third-largest webtoon platform, expanding its content portfolio.
Naver

Naver’s ‘story-tech’ Webtoon platform marks its 5th anniversary with 180 million followers

May 2, 2022
Naver to enter the metaverse universe with its ‘Arcverse’ project
Naver Corp. partners with CJ ENM to acquire Munpia Inc., South Korea’s third-largest webtoon platform, expanding its content portfolio.
metaverse

Naver to enter the metaverse universe with its ‘Arcverse’ project

January 19, 2022
Naver and SoftBank to come together for an AI project that captures the global market
Naver Corp. partners with CJ ENM to acquire Munpia Inc., South Korea’s third-largest webtoon platform, expanding its content portfolio.
AI

Naver and SoftBank to come together for an AI project that captures the global market

October 18, 2021
No Result
View All Result

Follow Us

FREE NEWSLETTER




PRODUCTS

Most Popular

  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Top South Korean Tech Products to Look Out for in 2021

    0 shares
    Share 0 Tweet 0
  • Robots to help Police Patrol in South Korea

    0 shares
    Share 0 Tweet 0
  • 5 All-Time Best Rom-Com K-Dramas to Watch

    0 shares
    Share 0 Tweet 0
  • South Korea plans Urban Air Mobility Air Taxi services by 2025

    0 shares
    Share 0 Tweet 0
  • SK On to introduce South Korea’s first LFP Battery Prototype

    0 shares
    Share 0 Tweet 0
  • Outsourcing by Samsung to China Feared by Phone Parts Suppliers

    0 shares
    Share 0 Tweet 0
  • South Korea to commercialize Quantum Cryptography Communications

    0 shares
    Share 0 Tweet 0
  • Top Eight Promising EdTech Startup Companies in South Korea

    0 shares
    Share 0 Tweet 0
  • Netmarble subsidiary Metaverse Entertainment’s K-Pop virtual girl band MAVE has a smashing online debut

    0 shares
    Share 0 Tweet 0
  • About Us
  • Account Page
  • application form
  • Cookie policy
  • Default Redirect Page
  • homepage
  • Login
  • login form
  • LogOut
  • Newsletter
  • Privacy Policy
  • Register
  • Reset Password
  • Sample Page
  • Subscription Plan
  • Terms of Use
  • test
  • test
  • testpage
  • TOS Page
  • Visitor Inside User Page

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |