Korean Government Announces Tax Credits to Boost Webtoon Production
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South Korea Supports Webtoon Industry with New Tax Incentives
Image via Korea's Ministry of Economy and Finance's website
South Korea is taking steps to boost its webtoon industry on the global stage. The government announced a new plan to offer tax credits covering 10–15% of production costs for digital comics, including webtoons.
What’s the Plan?
As part of the 2025 tax reform plan unveiled on July 31 by the Ministry of Economy and Finance, this initiative aims to enhance Korea’s cultural influence by supporting one of its most successful content sectors.
Who Qualifies?
- Content must be webtoons or digital comics as defined by Korea's “Promotion of Comics Act.”
- Distribution must occur via online networks.
What Expenses Are Covered?
- Planning and production labor costs
- Licensing fees for source novels
- Software costs related to creating webtoons
Note: Marketing and promotional expenses are not included.
Details of the Tax Credit
- 10% for large companies
- 15% for small and medium-sized enterprises (SMEs)
This credit applies to expenses incurred during the year the webtoon is released online and will be available until the end of 2028.
Why Is This Important?
This move is designed to strengthen Korea’s soft power through its digital comics, encouraging creators and companies to produce more innovative content with government support.
Source: YNA (Kyung-rak Min)