Naver Webtoon is switching to a co-CEO structure led by Kim Yong-su (김용수) and Kim Gyu-nam (김규남). Junkoo Kim (김준구), CEO of Webtoon Entertainment, will step down as head of the South Korean unit and focus on global management and long-term growth strategy.

Naver Webtoon said on Wednesday it has appointed Kim Yong-su, president of Webtoon Entertainment, and Kim Gyu-nam, chief administrative officer (CAO), as co-CEOs.

Kim Yong-su will keep his role as president of Webtoon Entertainment while also serving as co-CEO of Naver Webtoon. Kim Gyu-nam will change his title from chief risk officer (CRO) at Webtoon Entertainment to CAO and also take on the role of Naver Webtoon co-CEO.

Junkoo Kim will focus on strengthening companywide fundamentals and securing long-term growth drivers as CEO of Webtoon Entertainment and board chair, and will support the management of regional entities.

The appointments extend a leadership reshuffle at Webtoon Entertainment carried out in March. At the time, Webtoon Entertainment created the president position and appointed then chief strategy officer Kim Yong-su, with Junkoo Kim taking charge of long-term growth and future strategy and the president overseeing business operations and execution.

Naver Webtoon said the reorganisation will expand headquarters-level governance to the South Korean entity and strengthen a professional management structure tailored to local markets.

Kim Gyu-nam joined Naver Webtoon in 2018 and has overseen content operations policies and guidelines and the launch of a creator system. During efforts to respond to illegal distribution of webtoons, he also worked with governments and related organisations in various countries and handled work to protect creators and intellectual property (IP).

He is expected to strengthen communication with South Korean creators, partner companies and related institutions and focus on expanding the domestic creator ecosystem and collaboration with stakeholders.

Kim Yong-su joined Naver Webtoon in 2022 and has served as head of strategy, chief strategy officer and head of the global webtoon business unit. He led partnerships with global entertainment companies and, since being appointed president of Webtoon Entertainment in March, has overseen companywide business operations and execution.

Naver Webtoon said Kim Gyu-nam will strengthen the domestic creator ecosystem by working closely and communicating with South Korean creators, partner companies and various institutions. It also said having Kim Yong-su serve concurrently as president and co-CEO will help improve strategic consistency and speed of execution.

Junkoo Kim, CEO of Webtoon Entertainment, said South Korea is the most mature market for the webtoon industry and an important hub in the global webtoon ecosystem. He said the reorganisation will improve the efficiency of global governance while strengthening a professional management structure suited to the South Korean market situation.