Ylab is a Korean webtoon developer and is the creative force behind popular titles such as ‘Fashion King’, ‘Josun Dynasty’ and ‘Abyss of the Sky’. Recently, Value Investment Korea made an investment of US$2.5m into Ylab. This investment has been confirmed by representative from both companies.
Ylab was founded by webtoon author Yoon In Hwan who published ‘Blade of the Phantom Master’ which amassed more than 6 million views. Within the first four years since opening, Ylab achieved annual sales of $3.4m.
Unlike most webtoon agencies, producers of Ylab affiliated companies share their writers and ideas in planning materials. Through an OSMU business model Ylab aides development of their contents whilst protecting their intellectual property. Although this practice is quite common for American companies like Marvel and DC comics, Ylab is among few Korean companies adopting this approach.
Through last years movie release ‘Fashion King’ which Ylab produced directly, and web drama ‘the Prince’s King’, 1 million views has been exceeded. Aside from these popular titles, Ylab’s progress has been further assisted by smaller titles like ‘History of Stingy’ and ‘My nights are more wonderful than your days’. Starting this year Ylab is planning to utilise its IP with large game developers to develop games. Development of games for ‘Blade of the Phantom Master’, ‘The prince’s King’, and ‘Burning Hell’ are currently under way.
Ylab has been progressing well through their unique business model and their areas of interest cover various genres. Through this new relationship with Value Investment Korea, it plans on throwing itself greater challenges. In the plan, new global markets including USA and China are targeted. Ylab intends on utilising all their IP in applying to a global games industry.
A Ylab official spokesperson explained that “Yoon In Hwan, the founder of Ylab has already experienced international successes for his contents. Based on this experience and the demonstrated value of our contents, targeting the international market is achievable”. He added that “Ylab is looking forward to the synergies that will be brought through this relationship with Value Investment Korea. Our plan is to carry our foundations in cultural webtoons and implement a new business model that will add new cultural contents in the future".
