Webtoon announced earlier this week some leadership changes in order "to Accelerate Global Growth Strategy." Let's start with the high level stuff...
- President Yongsoo Kim is assuming oversight and will consolidate global operations, while the previous Chief Operating Officer role will be eliminated.
- Leah Goeun Yeon has been hired as Webtoon’s first Chief Business Officer. In the newly created role, Yeon will oversee Webtoon’s webcomic platform business (excluding Japan) "leading growth, marketing, content, and creator management."
- Teo Taeyeong Jang has been promoted to Head of AI. He is to be build on existing AI capabilities, including content protection and anti-piracy innovations, content discovery, and their new translation program.
- Sean Shinhyung Kim has been promoted to Head of IP Business, "strategically expanding its IP value chain in areas that can accelerate global growth." (Basically, he'll be in charge of obtaining and expanding licenses from other IP holders.)
Aside from the AI angle, there's also no reference to anyone in IT. Meaning either they are putting minimal-to-no effort towards improving their apps' functionality, or they are turning any/all of that work over to AI. For a tech company in particular, both of those options sound like a phenomenally bad idea. Further, it runs very counter to the messaging they were telling everybody as recently as December. They knew back then that AI wasn't popular, which is obviously why they weren't touting it in their public statements, but they've gone ahead anyway by not only embracing it, but creating an entirely new role just to try to plug it into everything in their business.
Even from a cynical consumer perspective, there's no focus here on their customers and there's no focus here on their product. They're talking about growth and increasing value. That's an exceptionally short-sighted, investor-focused approach, and one that will almost certainly lead to problems for both creators and readers as services and support get cut, ongoing maintenance falls to the wayside, and they put more effort into extracting more money from existing customers than bringing in new ones. I've long had the sense that many people looked hopefully at Webtoons as the solution for a single, functional webcomics discovery platform. But they're very much telegraphing that isn't their intention at all; they just want to suck up as much money as they can, sell the company for as much as they can, and walk away with as much cash as possible.








