Fund manager bets on next Korean comic phenomenon

One fund manager is betting that webtoons will be the next Korean cultural phenomenon that will take the world by storm after the success of K-pop bands like BTS and dramas like Squid Game.

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 the unlisted webtoon producer Kenaz this year, becoming its largest shareholder.

Park Ji-hong, the firm's chief executive, said in an interview in Seoul that there are great opportunities in the webtoon market. We are focused on non-listed companies with attractive valuations, even though there are not many listed companies to invest in. This could be due to a conflict with your adblocking or security software. There are some permitted sites for piano and jp.io. If this does not resolve the issue or you are unable to add the domains to your allowlist, please see this FAQ. We apologize for the inconvenience.