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Games & Commerce
Webtoon Entertainment Q1 operating loss 11.7 billion won, narrows 69.8 percent
Webtoon Entertainment, Naver Webtoon’s U.S. parent, said its first-quarter operating loss narrowed 69.8 percent from a year earlier on improved gross profit and cost controls. Revenue fell 1.5 percent to $320.87 million, but rose 0.2 percent on a constant-currency basis. The operating loss was $8.03 million and net loss fell 60 percent to $8.80 million. Paid content revenue edged up, while ad and IP business revenue declined.
AI & Enterprise
OpenAI to end Sora video-generating app in March 2026 as daily losses reach 1.5 billion won
OpenAI has decided to end its video-generating app Sora in March 2026, drawing attention to why it is shutting it down. An online media outlet cited a Wall Street Journal report saying Sora was pushed down the priority list after failing to generate clear revenue despite high operating costs. User numbers fell from about 1 million to below 500,000, and daily losses were reported at about $1 million, or 1.5 billion won.
Games & Commerce
Webtoon Entertainment appoints Kim Yong-soo as president, overhauls leadership structure
Webtoon Entertainment is overhauling its leadership structure to support growth and speed up innovation in global markets. The company said it appointed Chief Strategy Officer Kim Yong-soo as president and an inside director. It said Kim played a key role in strengthening financial soundness and a successful IPO and led major changes to drive growth in its U.S. business. CEO Kim Jun-koo will focus on fundamentals and long-term direction.
