LOS ANGELES, CA - WEBTOON Entertainment Inc., a digital comics platform, announced an overhaul of its executive team.
David J. Lee has been named Chief Financial Officer and Chief Operating Officer, and Yongsoo Kim has been promoted to Chief Strategy Officer.
David J. Lee brings more than two decades of consumer and technology experience to his dual role at WEBTOON.
His career includes leadership roles at Impossible Foods, Zynga, Del Monte Foods, and Best Buy.
Most notably, at Impossible Foods, he launched and distributed the Impossible Burger.
His tenure at Zynga coincided with the company's shift to mobile platforms. Lee's focus at WEBTOON will be on global operational growth.
Yongsoo Kim, an integral part of WEBTOON's global and corporate initiatives to date, assumes the role of Chief Strategy Officer.
Kim's experience includes KKR, Tesla Korea, McKinsey & Company, and Netmarble.
His responsibilities will include strategic investments and partnerships to expand WEBTOON's intellectual property (IP) and creator ecosystem.
This restructuring coincides with the rapid growth of the global webcomics market, which is expected to exceed $50 billion by 2030.
This market has had a compound annual growth rate of nearly 40% since 2021, reflecting the rise of user-generated content.
WEBTOON, founded by Junkoo Kim, is a leader in the mobile webcomic format, featuring international comic artists and storytellers.
As of September 30, 2023, the company reported more than 175 million monthly active users, a significant presence in the digital comics industry.
WEBTOON's influence extends to other media, with content on Netflix and Crunchyroll. Its collaborations include DC Comics, Marvel Entertainment, and BTS' HYBE Entertainment, demonstrating its cultural impact.
The executive changes at WEBTOON underscore the company's strategy to maintain its position in the app-based comics market.
The focus on global expansion, platform enhancement, and product development aligns with the company's goal of advancing the webcomics industry and reaching a diverse audience.