Webtoon company YLAB files preliminary listing review for Kosdaq

YLAB, a South Korean content company specializing in the production, distribution, and translation of webtoons, is moving to go public this year.

According to the Korea Exchange (KRX) on Wednesday, YLAB recently submitted a preliminary listing review with the Kosdaq market headquarters within KRX.

It selected Korea Investment & Securities as its lead manager in 2021 and has since prepared for listing.

Founded in 2010 by Yoon In-wan, a cartoonist, YLAB distinguishes itself from other webtoon companies in that it produces webtoons using its intellectual property assets, while many others make use of IP assets owned by creators.

YLAB is famous for its strategy to expand the story and genre by integrating the characters in various webtoon works into a unique worldview. Starting with Super String, a superhero worldview, it has released Blue String, a youth school worldview, and Red String, a romance worldview.

Its solid base in IP assets and distinctive portfolios of worldview stories have helped it to be wooed by big content production companies.

It drew an investment of 5.3 billion won ($4.2 million) for a 12% stake from Naver Webtoon in 2020, 7 billion won for a 12% stake from CJ ENM, and 6.8 billion won for a 5.8% stake from Pearl Abyss in 2021.

Write to Seok-cheol Choi at dolsoi@hankyung.com