Following the success of K-pop bands like BTS and dramas including "Squid Game,” one fund manager is betting that "webtoons” will be the next Korean cultural phenomenon to take the world by storm.
GVA Asset Management, which manages about $600 million in assets, believes Americans and Europeans will soon catch onto Korea’s online comics, following the lead of consumers at home and in Japan. It put $15 million into unlisted webtoon producer Kenaz this year, becoming its largest shareholder.
"Right now there are great opportunities in the webtoon market,” Park Ji-hong, the firm’s chief executive, said in an interview in Seoul. "Although there are not many listed companies to invest in, we are focusing on nonlisted companies with attractive valuations.”
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