Com2uS is expanding content business cooperation using webtoon intellectual property (IP) with Redice Studio, following an equity transaction.

Com2uS disclosed on Sept. 30 that it signed a contract to transfer 1,080,506 shares of content business affiliate Com2uS N to Redice Studio. The stake Redice is acquiring is about 4.5% of Com2uS N.

Based on the agreement, the two companies are pursuing ways to combine Redice's webtoon IP with the content planning and production capabilities of Com2uS and Com2uS N.

Redice is a studio that holds webtoon IPs such as "Solo Leveling," "Omniscient Reader's Viewpoint," "Tomb Raider King" and "Overgeared." It is expanding its business from producing webtoons based on original stories into content distribution and localisation.

Its flagship title "Omniscient Reader's Viewpoint" has surpassed 2 billion global cumulative views, and "Solo Leveling" logged 14.3 billion global cumulative views across the web novel and webtoon.

Com2uS N runs content planning and production in film, drama and webtoons, as well as online and offline content businesses. It has AI, extended reality (XR) and virtual reality (VR) technologies and production infrastructure, and has secured experience producing more than 3,000 online and offline content projects.

Com2uS plans to link Redice's webtoon IP with Com2uS N's content business capabilities to broaden the range of uses for existing IP and to review possibilities for developing new content and expanding IP in various forms.

A Com2uS official said the company plans to widen the scope of cooperation by linking Redice Studio's global IP with the content business know-how of Com2uS and Com2uS N. The official said the company will seek various strategic collaboration opportunities based on each company's expertise.