For quite some time, anime has predominantly either been original works that were forged for the screen or based on Japanese manga that made the leap to the anime world. In recent years however, Korean WEBTOONs have become a serious competitor for manga as more series are receiving anime adaptations and are taking the world by storm. Unfortunately, it appears as though there is some massive drama surrounding the WEBTOON universe following the original company being made public. Company stock is plummeting and a new development has placed the industry in jeopardy as a labor dispute and a Chief Executive Officer’s recent raise come to light.
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Earlier this year, WEBTOON Entertainment, the company that is one of the premiere spots for reading the printed works, went public on the United States stock market. While this might have initially seemed like a boon, it ultimately might be viewed as a curse as the stock has fallen nearly fifty percent in the months following. Thanks to a brewing labor dispute revolving around employee pay and the exorbitant salaries of the company’s CEO, WEBTOON might have to take a major break from producing some of the biggest series in the medium that has become a big part of the anime world.
The WEBTOON Drama Explained
WEBTOON Entertainment’s Chief Executive Officer, Joonkoo Kim, has gotten into hot water with his employees thanks to receiving $30 million USD in cash and stock options. Anime News Network had the opportunity to speak with a union official tied to WEBTOON’s employees, laying down the issue with this move, “Employees who worked tirelessly to get the company to its IPO expected fair compensation, but instead, management unilaterally decided on stock allocations without any real negotiation. There was no negotiation at all.”
Employees had reported that Kim had taken the opportunity to have an all-hands meeting with WEBTOON employees, pleading his case. As one anonymous employee reported, Joonkoo was seemingly in tears as he defended his moves as employees remarked that they were “crocodile tears.” While a labor strike has yet to be confirmed for WEBTOON’s employees, it also isn’t entirely out of the question. The previous union official made the following statement with regard to a potential strike, “We can’t predict if a strike will happen but if negotiations fall through, we’ll communicate with our members and start ramping up from rallies to full-on strikes.”
What Are WEBTOON Anime?
You might not realize that some of the biggest anime of the day have arrived thanks to the South Korean medium. Solo Leveling, for example, which will return with a second season in the coming months, was based on a WEBTOON that told the story of Jinwoo Kim and his quest to take care of his family in a supernatural world. On top of this example, anime series such as Tower of God, The God of High School, Noblesse, Lookism, and Viral Hit all got their start from the Manwha world.
A potential labor strike wouldn’t affect the anime adaptations that are on the way but it could potentially throw a major monkey wrench into many of the ongoing series that are still running from WEBTOON Entertainment. This would include series such as Hellbound, All of Us Are Dead, Sweet Home, and more.
Want to see what the future holds for the WEBTOON industry? Want to stay up to date on the potential strike that might throw the Manwha world into turmoil? Follow along with Team Anime on ComicBook.com for the latest updates on all things Manwha and hit me up directly @EVComedy to talk all things comics and anime.
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Image Courtesy of New Line Cinema
