Movico enters into a strategic alliance with People & Story for advancing into the Vietnamese webtoon and web novel market

SEOUL, South Korea, May 17, 2019 /PRNewswire/ -- Movico (www.vinatoon.co.kr co-CEOs Kim Joong-hwan and Lee jin-woo), the first webtoon service provider in Vietnam, announced on April 23 that it decided to make inroads into the Vietnamese webtoon and web novel market together with People & Story (www.touchbook.co.kr CEO Kim Nam-cheol), specializing in webtoon and web novel contents, and entered into a strategic alliance.

Movico introduced Vinatoon (www.vinatoon.com), the first webtoon service in Vietnam, last April, and is receiving attention from the Korean and Vietnamese cartoon/webtoon industry.

People & Story became a major contents supplier as it provided more than 40 webtoons to 'comicola,' a Vietnamese webtoon site, and among them, 'Born as the king's daughter' recorded 280,000 cumulative page views in just a month after its opening, and was ranked No. 1 in paid webtoon sales, receiving a lot of attention in the Vietnamese market.

The two companies are planning to make inroads into the Vietnamese webtoon and web novel market together through this strategic alliance.

The key works of People & Story are already supplied to Vinatoon (www.vinatoon.com.vn), which is operated by Movico, and web novel contents will also be serviced in the future.

In addition, they decided to combine the competencies of the two companies, which are actively engaged in webtoon service platforms and contents in Vietnam, and launch services on various online service platforms and expand their business, including distribution of contents.

Kim Nam-cheol, CEO of People & Story, said, "Jointly with Movico, which is operating a service platform in the Vietnamese market, we will capitalize on the synergies and expand the market more aggressively."

Lee Jin-woo, CEO of Movico, said, "We are continuously discussing opportunities to introduce excellent Korean webtoon and web novel contents to Vietnamese readers, and capitalize on good contents to cooperate with service platforms in other areas, e.g. e-books and mobile carriers in Vietnam."