Naver's 'Webtoon' CEO says barrier for new entrants is high

FILE PHOTO: Webtoon Entertainment's booth is pictured during a comic festival in Paris, France, July 13, 2023. WEBTOON Entertainment/Handout via REUTERS/File Photo

SEOUL (Reuters) -South Korean tech giant Naver's webcomics business, called "Webtoon", will rely on its deep bank of content and creators to fend off new competition from larger Silicon Valley rivals, its CEO said, as it plans a listing next year.

Webtoons are digitalised short-form comics optimised for reading on mobiles and read vertically by scrolling through short, full-colour episodes.