November 22, 2024

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Toonsquare CEO Lee Ho-young speaks during a recent interview at the company's office in southern Seoul on Sept. 20. (Im Se-jun/The Korea Herald)

Fueled by the surge in digital content consumption during the pandemic, the global webcomic market has seen unprecedented growth in recent years, with South Korea, home to a $1.1 billion webtoon market, cementing its position as a leader in this burgeoning industry.

Leveraging Korea's unmatched market data and intellectual property, Seoul-based artificial intelligence startup Toonsquare, which provides creative tools for webcomic creators, is now aiming to expand its global presence, with greater opportunities beyond Korea, according to CEO Lee Ho-young.

"We are currently localizing our service in countries like the US, France, Japan and Indonesia, where the webtoon industry is well-established and audiences demand high-quality content," said Lee in a recent interview with The Korea Herald at the company’s southern Seoul office.

Founded in 2017 by Lee and former Samsung Electronics colleagues -- including Chief Technology Officer Choi Ho-sup and Chief Financial Officer Kim Gyu-cheul -- as an in-house C-Lab venture project, Toonsquare transitioned to a standalone corporation in 2019. It launched its AI content creation service, Tooning, the following year.

Initially aspiring to be a webtoon artist, Lee soon recognized the challenges of balancing creative work with a full-time job. "It typically takes around 60 hours for an artist to complete a single episode each week. Many collaborate with other artists or studios, but newcomers often struggle. To save time, I created a database of reusable images, which inspired the development of a creative tool for webtoon artists," he explained.

With increasing competition in the webtoon industry, a simple archiving tool was no longer sufficient. "Success often hinges on the first episode, which typically has 80 to 90 cuts. New series may have up to 120 cuts in the first episode to capture audience attention," Lee noted.

By integrating AI, Toonsquare has enhanced efficiency, evolving from a basic machine learning tool to sophisticated generative AI technology that helps users transform their ideas into webcomics. The company now offers four core services under the Tooning brand: Tooning Editor, Tooning Magic, Tooning Board and Tooning GPT, each supporting creators at different stages of content creation.

Tooning Editor, in particular, has gained traction as an educational tool amid rising interest in AI. "After launching the tool, many teachers began using it to educate students about generative AI — its applications and risks — preparing them for a future where this technology will be crucial," Lee said.

Toonsquare has partnered with schools and teachers to provide a safer environment for students while offering a more convenient resource to educators and parents. Today, Tooning serves over 500 schools, 13,000 teachers and 225,000 students.

The education technology sector has opened new opportunities for Toonsquare, with customers and investors from Hong Kong, Singapore and the US expressing interest in partnerships. In light of this global attention, Toonsquare showcased its technology and services at the Consumer Electronics Show 2024 in January and the Amazon Web Services Innovate Online Conference in March.

Toonsquare is also working on advancing its tool for professionals, which is currently in beta, with about 80 percent of the program completed. The company is collaborating with local webtoon studios and recruiting international talent for a global launch.

With ongoing discussions for several global deals and investments, Lee anticipates significant partnerships to bolster the company's international presence.

"Localization is key. Each country has its unique webtoon IP market, and we need experts who understand local ecosystems and the needs of creators and consumers," Lee explained.

Lee hopes his employees share an interest in AI and recognize it as a tool to enhance their creative capabilities.

"At the core, it's the artist who brings the idea. Tooning is designed to increase convenience and efficiency. Our tool allows everyone to develop their stories into relatable content while aiming to reduce episode creation time from 60 hours to just six. We look forward to collaborating with global talents who share our vision."

By Choi Ji-won (jwc@heraldcorp.com)