David J. Lee joins as Chief Financial Officer and Chief Operating Officer

Yongsoo Kim elevated to Chief Strategy Officer

WEBTOON Entertainment Inc. (“WEBTOON” or “the Company”), the world’s largest webcomics platform, today announced it has expanded its leadership team to position the Company for future global expansion, platform growth and product development.

These strategic appointments come at a time when individuals around the world are consuming user–generated content at record pace, with the global webcomics market size projected to reach north of $50 billion by 2030, growing at a CAGR of almost 40 percent since 2021**.

David J. Lee Named Chief Financial Officer and Chief Operating Officer

Seasoned consumer and technology industry executive David J. Lee joins WEBTOON as Chief Financial Officer and Chief Operating Officer. Reporting to WEBTOON Founder and CEO, Junkoo Kim, Lee will unify and oversee WEBTOON’s, Wattpad’s and Wattpad WEBTOON Studios’ global corporate, financial and operations teams. Lee brings over 25 years of public and private company experience across a variety of finance and operating leadership roles and audit committee board roles. Previously, he was the COO & CFO of Impossible Foods, where he successfully led the company’s launch of the Impossible Burger and its nationwide distribution.

Prior to Impossible Foods, Lee was the public company CFO of Zynga, where he led the company’s finance and corporate development teams, and helped lead the company’s transformation from web-based to mobile. From 2004 to 2012, Lee held leadership roles at Del Monte Foods while it was public, and led its take-private transaction, overseeing at various times the consumer products business, corporate strategic planning, government relations, corporate communications and financial planning. Lee also led corporate finance, strategy and development for Best Buy during its transformation from 2012 to 2014. Earlier in his career, Lee worked in advertising at the Leo Burnett company and strategy at McKinsey & Company.

Junkoo Kim stated, “I’m thrilled to welcome David J. Lee to the WEBTOON team. He brings a proven track record of driving growth and scale at a global level. David knows consumer-focused technology ecosystems and will be instrumental as webcomics continue to show accelerated growth across the world. We are confident that David will help us achieve our ambitions as we solidify our position as the preeminent app-based comics platform.”

Lee said, “WEBTOON has launched a new generation of storytellers all over the world. WEBTOON attracts over 175 million monthly active users and has the potential to significantly increase its fanbase as the market expands from Asia to Europe and the US. I’m thrilled to be part of this brand as we expand our platform and IP & Creator Ecosystem around the world.”

Yongsoo Kim Elevated to Chief Strategy Officer

Yongsoo Kim has been named Chief Strategy Officer (CSO) for WEBTOON. As CSO, Kim will lead global strategic initiatives, including M&A and strategic investments and partnerships as the company continues to expand its IP & Creator Ecosystem around the world. Yongsoo Kim will report to WEBTOON Founder & CEO, Junkoo Kim.

Yongsoo Kim joined WEBTOON in 2022, where he led WEBTOON’s global corporate planning, operations, and transformation initiatives. Previously, Kim was Principal at KKR, where he led turnaround efforts for KKR’s portfolio companies in Korea and worked on investment activities as Head of KKR Capstone team in Korea. He also served as a director on the Boards of ECORBIT, TSK Corporation, and Hyundai Global Service. Before his role at KKR, Kim was part of the founding team at Tesla Korea, was an engagement manager at McKinsey & Company, and held various roles at Korean gaming company Netmarble. He also worked as COO for Y Combinator-backed Mars Auto.

“Yongsoo Kim is a world-class strategic leader who has been pivotal to our global integration and company-wide transformation over the past year. I’m proud to celebrate Yongsoo’s new role as we build the world’s leading content ecosystem,” said Junkoo Kim.

ABOUT WEBTOON

WEBTOON is the world’s largest webcomic platform, home to some of the biggest creators, titles, and fandoms in webcomics. As the global leader and pioneer of the mobile webcomic format, WEBTOON has revolutionized the comics industry for comic fans and creators. Today, a diverse new generation of international comic artists have found a home on WEBTOON, where the company’s storytelling technology allows anyone to become a creator and build a global audience for their stories.

With a massive catalog of incredible webcomics from rising stars on WEBTOON CANVAS, and a growing roster of superstar Originals creators, there’s something for every type of comic fan on WEBTOON. WEBTOON’s passionate fandoms are the new face of pop culture, and adaptations can be found on Netflix, Crunchyroll, and other screens around the world. The company has worked with DC Comics, Marvel Entertainment, BTS’ HYBE Entertainment, and many more of the world’s biggest entertainment brands. With over 175 million monthly active users (as of the quarter ended September 30, 2023), WEBTOON’s family of aligned companies, platforms and/or offerings include NAVER WEBTOON, Wattpad, Wattpad WEBTOON Studios, Studio N, Studio LICO, WEBTOON Unscrolled, Line Manga and eBOOKJapan, among others.

The WEBTOON app is free to download on Android and iOS devices. More information about WEBTOON can be found at https://about.webtoon.com/.

**Source: ResearchandMarkets

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