WEBTOON Entertainment Inc. Common stock (WBTN) 10-Q 12 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-42144
Entity Registrant Name	WEBTOON Entertainment Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-3830533
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001997859
Entity Address, Address Line One	5700 Wilshire Blvd
Entity Address, Address Line Two	Suite 220
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90036
City Area Code	323
Local Phone Number	424-3795
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	WBTN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		128,272,591

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Assets, Current [Abstract]
Cash and cash equivalents		$ 572,305	$ 231,745
Receivables, net of allowance for credit losses of $2,518 and $1,049 at June 30, 2024 and December 31, 2023 respectively	[1]	173,446	171,776
Asset held for sale			6,827
Other current assets, net	[2]	80,639	82,479
Total current assets		826,390	492,827
Property and equipment, net		9,414	11,692
Operating lease right-of-use assets		7,854	29,472
Debt and equity securities		75,324	91,233
Intangible assets, net		194,351	219,502
Goodwill, net		741,307	779,176
Equity method investments		78,618	64,222
Deferred tax assets		24,108	24,045
Other non-current assets, net	[3]	71,851	64,436
Total assets		2,029,217	1,776,605
Liabilities, Current [Abstract]
Accounts payable	[4]	121,374	127,427
Accrued expenses		87,569	62,782
Short-term borrowings and current portion of long-term debt	[5]		4,252
Current portion of operating lease liabilities	[6]	4,865	9,945
Contract liabilities	[7]	97,524	76,722
Income tax payables - corporate tax		9,742	9,459
Consumption taxes payables		5,633	7,339
Provisions and defined pension benefits		3,846	5,564
Other current liabilities		11,646	12,584
Total current liabilities		342,199	316,074
Non-current liabilities:
Long-term operating lease liabilities	[8]	2,870	19,238
Defined severance benefits		19,964	23,361
Deferred tax liabilities		51,659	61,134
Other non-current liabilities		1,650	9,322
Total liabilities		418,342	429,129
Commitments and Contingencies (Note 8)
Redeemable non-controlling interest in subsidiary		41,706	41,429
Stockholders' equity:
Common stock, $0.0001 par value (2,000,000,000 authorized, 126,886,102 shares and 109,505,150 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively)		13	11
Preferred stock, $0.0001 par value (100,000,000 authorized, no shares and - shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively)
Additional paid-in capital		2,053,326	1,667,246
Accumulated other comprehensive loss		(104,008)	(54,824)
Accumulated deficit		(433,985)	(363,292)
Total stockholders' equity attributable to WEBTOON Entertainment Inc.		1,515,346	1,249,141
Non-controlling interests in consolidated subsidiaries		53,823	56,906
Total equity		1,569,169	1,306,047
Total liabilities, redeemable non-controlling interest, and equity		$ 2,029,217	$ 1,776,605
[1] Includes amounts due from related parties of $ 54,585 and $ 63,723 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due from related parties of $ 8,672 and $– as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due from related parties of $ 30,520 and $ 15,876 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $ 20,481 and $ 6,713 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $– and as of $ 3,800 June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $ 1,899 and $ 6,426 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $ 1 and $ 16,160 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $– and $ 14,852 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity )

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Trade Receivable, Allowance for doubtful accounts	[1]	$ 2,518	$ 1,049
Common shares, par value		$ 0.0001	$ 0.0001
Common shares, shares authorized		2,000,000,000	2,000,000,000
Common shares, shares issued		126,886,102	109,505,150
Common Stock, outstanding		126,886,102	109,505,150
Preferred stock, par value		$ 0.0001	$ 0.0001
Preferred stock, shares authorized		100,000,000	100,000,000
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0	0
Receivables	[1]	$ 173,446	$ 171,776
Other current assets, net	[2]	80,639	82,479
Accounts payable	[3]	121,374	127,427
Short-term borrowings and current portion of long-term debt	[4]		4,252
Current portion of operating lease liabilities	[5]	4,865	9,945
Contract liabilities	[6]	97,524	76,722
Long-term operating lease liabilities	[7]	2,870	19,238
Related Parties
Receivables		54,585	63,723
Other current assets, net		8,672
Other assets net		30,520	15,876
Accounts payable		20,481	6,713
Short-term borrowings and current portion of long-term debt			3,800
Current portion of operating lease liabilities		1,899	6,426
Contract liabilities		$ 1	16,160
Long-term operating lease liabilities			$ 14,852
[1] Includes amounts due from related parties of $ 54,585 and $ 63,723 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due from related parties of $ 8,672 and $– as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $ 20,481 and $ 6,713 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $– and as of $ 3,800 June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $ 1,899 and $ 6,426 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $ 1 and $ 16,160 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $– and $ 14,852 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity )

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue	[1]	$ 320,972	$ 320,663	$ 647,716	$ 630,920
Cost of revenue	[2]	(237,915)	(239,518)	(482,300)	(483,925)
Marketing	[3]	(23,448)	(33,142)	(42,926)	(62,386)
General and administrative expenses	[4]	(138,705)	(53,469)	(187,398)	(109,838)
Operating Loss		(79,096)	(5,466)	(64,908)	(25,229)
Interest income		2,043	1,018	3,278	1,375
Interest expense		(11)	(18)	(44)	(41)
Income (Loss) on equity method investments, net		120	2,007	(932)	1,483
Other income (loss), net	[5]	2,283	(6,090)	846	(2,052)
Loss before income tax		(74,661)	(8,549)	(61,760)	(24,464)
Income tax expense		(1,907)	(11,201)	(8,575)	(13,578)
Net Loss		(76,568)	(19,750)	(70,335)	(38,042)
Net Income (Loss) attributable to WEBTOON Entertainment Inc.		(76,885)	(20,118)	(70,693)	(37,679)
Net Income (loss) attributable to non-controlling interests and redeemable non-controlling interests		317	368	358	(363)
Other comprehensive loss:
Foreign currency translation adjustments, net of tax		(20,486)	(16,209)	(49,175)	(34,605)
Share of other comprehensive loss of equity method investments, net of tax			(25)	(9)	(856)
Total other comprehensive loss, net of tax		(20,486)	(16,234)	(49,184)	(35,461)
Total Comprehensive Loss		(97,054)	(35,984)	(119,519)	(73,503)
Total comprehensive loss attributable to WEBTOON Entertainment Inc.		(97,371)	(36,352)	(119,877)	(73,140)
Total comprehensive income (loss) attributable to non-controlling interests and redeemable non-controlling interests		$ 317	$ 368	$ 358	$ (363)
Weighted average shares outstanding
Basic		110,102,868	109,505,150	109,804,009	109,505,150
Diluted		110,102,868	109,505,150	109,804,009	109,505,150
Loss Per Share Attributable to WEBTOON Entertainment Inc.
Basic		$ (0.7)	$ (0.18)	$ (0.64)	$ (0.34)
Diluted		$ (0.7)	$ (0.18)	$ (0.64)	$ (0.34)
[1] Includes amounts earned from related parties of $ 20,880 and $ 27,663 for the three months ended June 30, 2024 and June 30, 2023, respectively and $ 34,167 and $ 46,774 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts incurred from related parties of $ 31,508 and $ 3,563 for the three months ended June 30, 2024 and June 30, 2023, respectively and $ 40,462 and $ 7,143 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity) Includes amounts incurred from related parties of $( 1,036 ) and $ 35 for the three months ended June 30, 2024 and June 30, 2023, respectively and $( 2,941 ) and $ 97 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity) Includes amounts incurred from related parties of $ 7,953 and $ 7,602 for three months ended June 30, 2024 and June 30, 2023, respectively and $ 14,381 and $ 16,043 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity) . Includes amounts earned from related parties of $ 2,885 and $( 433 ) for three months ended June 30, 2024 and June 30, 2023, respectively and $ 2,679 and $( 247 ) for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) (Parenthetical) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue	[1]	$ 320,972	$ 320,663	$ 647,716	$ 630,920
Cost of revenue	[2]	237,915	239,518	482,300	483,925
Marketing	[3]	23,448	33,142	42,926	62,386
General and administrative expenses	[4]	138,705	53,469	187,398	109,838
Other income (loss), net	[5]	2,283	(6,090)	846	(2,052)
Related Parties
Revenue		20,880	27,663	34,167	46,774
Cost of revenue		31,508	3,563	40,462	7,143
Marketing expenses incurred (cost reimbursed)		(1,036)	35	(2,941)	97
General and administrative expenses		7,953	7,602	14,381	16,043
Other income (loss), net		$ 2,885	$ (433)	$ 2,679	$ (247)
[1] Includes amounts earned from related parties of $ 20,880 and $ 27,663 for the three months ended June 30, 2024 and June 30, 2023, respectively and $ 34,167 and $ 46,774 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts incurred from related parties of $ 31,508 and $ 3,563 for the three months ended June 30, 2024 and June 30, 2023, respectively and $ 40,462 and $ 7,143 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity) Includes amounts incurred from related parties of $( 1,036 ) and $ 35 for the three months ended June 30, 2024 and June 30, 2023, respectively and $( 2,941 ) and $ 97 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity) Includes amounts incurred from related parties of $ 7,953 and $ 7,602 for three months ended June 30, 2024 and June 30, 2023, respectively and $ 14,381 and $ 16,043 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity) . Includes amounts earned from related parties of $ 2,885 and $( 433 ) for three months ended June 30, 2024 and June 30, 2023, respectively and $ 2,679 and $( 247 ) for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity and Group Equity (unaudited) - USD ($) $ in Thousands		Total	IPO	Private Placement	Common Stock	Common Stock IPO	Common Stock Private Placement	Additional Paid-In Capital	Additional Paid-In Capital IPO	Additional Paid-In Capital Private Placement	Accumulated Other Comprehensive Loss	Accumulated Deficit	Total Stockholders' Equity Attributable to WEBTOON Entertainment Inc.	Total Stockholders' Equity Attributable to WEBTOON Entertainment Inc. IPO	Total Stockholders' Equity Attributable to WEBTOON Entertainment Inc. Private Placement	Non-controlling Interests in Consolidated Subsidiaries	Group Equity
Beginning Balance at Dec. 31, 2022		$ 1,468,502			$ 10			$ 1,038,284			$ (36,667)	$ (212,033)	$ 789,594			$ 85,395	$ 593,513
Beginning Balance (in shares) at Dec. 31, 2022					97,091,692
Net Income (Loss)		(17,881)										(10,875)	(10,875)			(320)	(6,686)
Foreign currency translation adjustments, net of tax		(18,396)									(18,396)		(18,396)
Equity in income of equity method investees		(831)									(831)		(831)
Equity-based compensation		2,062						125					125			1,937
Ending Balance at Mar. 31, 2023		1,433,456			$ 10			1,038,409			(55,894)	(222,908)	759,617			87,012	586,827
Ending Balance (in shares) at Mar. 31, 2023					97,091,692
Net Income (Loss)		(19,667)										(13,167)	(13,167)			451	(6,951)
Foreign currency translation adjustments, net of tax		(16,209)									(16,209)		(16,209)
Equity in income of equity method investees		(25)									(25)		(25)
Equity-based compensation		559						142					142			417
Changes in scope of consolidation		(11,131)														(11,131)
Common control transaction					$ 1			628,316				(48,441)	579,876				$ (579,876)
Common control transaction (in shares)					12,413,458
Ending Balance at Jun. 30, 2023		1,386,983			$ 11			1,666,867			(72,128)	(284,516)	1,310,234			76,749
Ending Balance (in shares) at Jun. 30, 2023					109,505,150
Beginning Balance at Dec. 31, 2023		$ 1,306,047			$ 11			1,667,246			(54,824)	(363,292)	1,249,141			56,906
Beginning Balance (in shares) at Dec. 31, 2023		109,505,150			109,505,150
Net Income (Loss)		$ 6,136										6,192	6,192			(56)
Foreign currency translation adjustments, net of tax		(28,689)									(28,689)		(28,689)
Equity in income of equity method investees		(9)									(9)		(9)
Equity-based compensation		1,593						1,121					1,121			472
Changes in scope of consolidation		(3,861)														(3,861)
Ending Balance at Mar. 31, 2024		1,281,217			$ 11			1,668,367			(83,522)	(357,100)	1,227,756			53,461
Ending Balance (in shares) at Mar. 31, 2024					109,505,150
Net Income (Loss)		(76,748)										(76,885)	(76,885)			137
Foreign currency translation adjustments, net of tax		(20,486)									(20,486)		(20,486)
Issuance of common stock			$ 281,737	$ 50,000		$ 2	$ 0		$ 281,735	$ 50,000				$ 281,737	$ 50,000
Issuance of common stock (in shares)						15,000,000	2,380,952
Equity-based compensation	[1]	53,449						53,224					53,224			225
Ending Balance at Jun. 30, 2024		$ 1,569,169			$ 13			$ 2,053,326			$ (104,008)	$ (433,985)	$ 1,515,346			$ 53,823
Ending Balance (in shares) at Jun. 30, 2024		126,886,102			126,886,102
[1] During the three months ended June 30, 2024, the Company recorded a dividend of $ 17.3 million as a reduction in additional paid-in capital for stock options granted to NAVER's employees who did not provide services to the Company (See Note 1. Description of Business and Summary of Significant Accounting Policies for the definitions of the Company and NAVER).

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity and Group Equity (unaudited) (Parenthetical) $ in Millions	3 Months Ended
	Jun. 30, 2024 USD ($)
Statement of Stockholders' Equity [Abstract]
Dividend	$ 17.3

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating activities:
Net Loss	$ (70,335)	$ (38,042)
Adjustments to reconcile net loss to cash used in operating activities:
Provision for bad debt expense	1,712	554
Depreciation and amortization	17,950	18,764
Operating lease expenses	5,294	6,429
Loss on foreign currency, net	5,060	6,293
Deferred tax expense	(7,460)	(841)
Gain on debt and equity securities, net	(5,143)	(1,100)
Loss (gain) on equity method investments, net	932	(1,483)
Contingent consideration liability	(3,814)	1,987
Stock-based compensation	57,656	3,097
Gain on disposal of right-of-use assets	(1,883)	(62)
Other non-cash items	(1,471)	715
Changes in operating assets and liabilities
Changes in receivables, net of allowance	(28,269)	(30,643)
Changes in other assets	(18,486)	(10,879)
Changes in accounts payable	17,957	16,540
Changes in accrued expenses	28,996	7,921
Changes in contract liabilities	28,304	2,152
Changes in other liabilities	207	(14,125)
Changes in operating lease liabilities	(4,949)	(5,584)
Payment of severance benefits, net of cash transferred	136	(2,356)
Net cash provided by (used in) operating activities	22,394	(40,663)
Investing activities:
Proceeds from maturities of short-term investments	63,299	7,725
Proceeds from sale of debt and equity securities	2,977
Purchases of property and equipment	(679)	(9,326)
Proceeds from sale of equity method investments	5,927
Payment made for short-term investments	(68,035)	(7,725)
Payment made for loan receivable	(237)	(12,307)
Purchases of intangible assets	(4,669)	(5,169)
Purchases of equity method investments	(5,798)	(687)
Disposal of businesses, net of cash disposed	(360)	2,031
Other investing activities	269	(17)
Net cash used in investing activities	(7,306)	(25,475)
Financing activities:
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions	292,950
Proceeds from issuance of common stock related to private placement	50,000
Payments of initial public offering costs	(1,898)
Repayments of short-term borrowings	(3,647)	(6,761)
Payment of contingent consideration related to business acquisition	(1,352)	(1,983)
Net cash provided by (used in) financing activities	336,053	(8,744)
Effect of exchange rate changes on cash and cash equivalents	(10,581)	(5,333)
Cash and cash equivalents:
Net increase (decrease) in cash and cash equivalents	340,560	(80,215)
Cash and cash equivalents at beginning of the year	231,745	279,709
Cash and cash equivalents at end of the year	572,305	199,494
Supplemental disclosure:
Income taxes paid	15,477	18,440
Interest paid	85	$ 88
Reclassification of deferred offering costs to additional paid-in capital upon IPO	11,215
Deferred offering costs not yet paid	9,316
Reclassification of debt and equity securities to equity method investments	$ 18,256

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Note 1. Description of Business and Summary of Significant Accounting Policies Organization and Description of Business WEBTOON Entertainment Inc. (the "Parent"), together with its subsidiaries, (the "Company", "we", “us” or “our”), is a majority-owned subsidiary of NAVER Corporation (“NAVER”), who is a leading online and web-comic platform service company. We provide hosting services for compact web-comics through both web and mobile applications and offer thousands of titles with episodes that are updated on a daily basis. We offer extensive and diverse genres of content, including fantasy, romance, and science fiction, on our platform. Platform refers to the various offerings through which we engage with users across diverse geographical markets including Korea, the United States, Japan, Southeast Asia, and Europe. Wattpad Corporation ("Wattpad"), together with its subsidiaries, is a global multi-platform entertainment company for original stories, content and advertising which became a wholly-owned subsidiary of NAVER and a sister entity of the Parent when it was acquired by NAVER on May 10, 2021. On June 1, 2023, the Parent entered into a stock contribution agreement with NAVER pursuant to which the Parent acquired 100 % of the common shares of Wattpad in exchange for 12,413,458 shares of the common stock of the Parent (the "Wattpad Transfer"). The Wattpad Transfer was accounted for as a common control transaction in a manner similar to the pooling-of-interest method. Thus, the financial statements of the commonly controlled entities were combined, retrospectively, as if the transactions had occurred as of January 1, 2022. Basis of Presentation For the period prior to June 1, 2023, the accompanying unaudited interim financial statements and footnotes present the combined Parent and Wattpad consolidated financial information. For the period after June 1, 2023, Wattpad is presented as part of the Company consolidated financial information. These financial statements and footnotes are therefore referred to as "Condensed Consolidated Financial Statements" throughout. NAVER’s equity interest in Wattpad during the period preceding the Wattpad Transfer is reflected within "Group Equity" within the Condensed Consolidated Statements of Stockholders' Equity and Group Equity. Upon completion of the Wattpad Transfer, the Company acquired NAVER's equity interest in Wattpad and the Group Equity is no longer applicable. The unaudited condensed consolidated interim financial information reflects all normal recurring adjustments that are, in the opinion of management, necessary for fair statement of the results of the interim period. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2023. Interim results are not necessarily indicative of the results for a full year. The following is provided to update the Company’s significant accounting policies previously described in the Company’s audited consolidated financial statements and notes as of and for the year ended December 31, 2023 included in the final prospectus dated June 26, 2024, as filed with the SEC pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (Registration No. 333-279863) (the "IPO Prospectus"). Receivables, net of allowance for credit losses Receivables, net of allowance for credit losses, are stated at their carrying value, net of allowance for credit losses based on lifetime expected losses. Receivable balances are primarily receivables due from payment gateway providers relating to sales processed for the Company’s online platform service business, as well as receivables from advertising activities, net of estimated allowances for credit losses. The Company estimates the allowance for credit losses based upon historical experience, the age and delinquency rates of receivables and the credit quality of the customers, as well as economic and regulatory conditions combined with reasonable and supportable management forecasts of collectibility and other economic factors over the lifetime of the receivables. The Company writes off accounts against the allowance for credit losses when they are deemed to be uncollectible. Reclassifications Certain amounts reported for prior years have been reclassified to conform to the current year's presentation. Concentrations of Credit Risk Cash and cash equivalents, receivables and loan receivables are potentially subject to concentration of credit risk. Cash, cash equivalents, and restricted cash are placed with several financial institutions that management believes are of high credit quality. The Company’s receivable include amounts concentrated with three payment gateway companies representing 53.4 % and 49.6 % of the total receivables balance as of June 30, 2024 and December 31, 2023, respectively.Three borrowers represent 89.0 % and 96.6 % of the total loan receivables balance as of June 30, 2024 and December 31, 2023, respectively. Forward Stock Split, Change in Par Value, Initial Public Offering On June 26, 2024, the Company filed an Amended and Restated Certificate of Incorporation (the “Amended Charter'') which effectuated a 30-for-1 forward stock split of its common stock and adjusted the par value of its common stock from $ 0.01 to $ 0.0001 on such date. Accordingly, all share and per share amounts presented in the Condensed Consolidated Financial Statements have been retroactively adjusted to reflect the stock split and change in par value for all periods presented. In lieu of issuing fractional shares, the Company opted to pay the holder thereof an amount in cash equal to the fair market value of such fractional share. The Amended Charter authorized 2,100,000,000 shares of capital stock, consisting of 2,000,000,000 shares of common stock, par value $ 0.0001 per share, and 100,000,000 shares of undesignated preferred stock, par value $ 0.0001 per share. No preferred stock was issued and outstanding as of June 30, 2024 and December 31, 2023. On June 28, 2024, the Company completed its initial public offering (the “IPO”) in which it issued and sold 15,000,000 shares of its common stock at a public offering price of $ 21.00 per share. The Company received proceeds of approximately $ 281.7 million from the IPO, net of underwriting discounts and commissions of $ 22.1 million and offering costs of $ 11.2 million. Additionally, the underwriters have the option, for a period of 30 days, to purchase up to an additional 2,250,000 common shares at the public offering price, less the underwriting discount and commissions to cover over-allotment. On July 26, 2024, the underwriters exercised the over-allotment option to purchase 1,371,549 shares of common stock for proceeds of $ 26.8 million, net of underwriting discounts and commissions. Substantially concurrently with the closing of the IPO, the Company issued 2,380,952 shares of common stock to NAVER U.Hub Inc., a wholly-owned subsidiary of NAVER, at the public offering price of $ 21.00 per share for aggregate proceeds of $ 50.0 million. Prior to the IPO, deferred offering costs, which consist of direct incremental legal, accounting, and other fees relating to the IPO, were capitalized in Other non-current assets on the Condensed Consolidated Balance Sheets. Upon completion of the IPO, all deferred offering costs were reclassified into stockholders’ equity as an offset against proceeds from the IPO. In addition, as of June 30, 2024, the Company had accrued a $ 30.0 million cash bonus that became due to the chief executive officer upon completion of the IPO. The bonus was paid out, less applicable payroll related taxes and expenses, in July 2024. Stock-Based Awards Issued to Employees of NAVER The Company issues stock-based awards to employees of NAVER that do not render services to the Company. The Company measures the award based on the grant-date fair value and accounts for the awards as a dividend distribution to NAVER following the attribution principles of Topic 718. Stock-Based Compensation Prior to the IPO, the grant-date fair value of stock-based awards was primarily determined using the estimated fair value of the Company's common stock. Common stock fair value estimates were developed by considering numerous objective and subjective factors that required judgment. Subsequent to the IPO, the Company determines the fair value of its common stock using the market closing price on the grant date. Change in Filer Status Upon completion of the IPO, the Company ceased to be an "emerging growth company" ("EGC"), as defined in the Jumpstart our Business Startups Act of 2012 ("JOBS Act"), due to exceeding the annual gross revenue threshold. Accordingly, we may no longer take advantage of EGC-related reduced reporting requirements that delay the adoption of new or revised accounting standards that are otherwise applicable to public companies. As the Company has been a public company for less than twelve months and has not yet filed a Form 10-K, the Company complies with non-accelerated public company filer effective dates of adoption. The loss of EGC status did not have a significant impact on our Condensed Consolidated Financial Statements. Recent Accounting Pronouncements Adopted In March 2023, the Financial Accounting Standard Board ("FASB") issued Accounting Standard Update ("ASU") 2023-01, Leases (Topic 842), Common Control Arrangements, which clarifies the accounting for leasehold improvements associated with common control leases. This update is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. The adoption of ASU 2023-01 did not have a material impact on our Condensed Consolidated Financial Statements. Recent Accounting Pronouncements Yet to Be Adopted In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which amends Topic 280 primarily through enhanced disclosures about significant segment expenses. This update is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. ASU 2023-07 became effective for us on January 1, 2024, for the fiscal year ending December 31, 2024 and will become effective on January 1, 2025 for interim periods on a retrospective basis for all periods presented in the financial statements. We are currently evaluating the impact of the adoption of this accounting pronouncement on our Condensed Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes - Improvements to Income Tax Disclosures, which requires enhancements and further transparency to certain income tax disclosures, most notably the tax rate reconciliation and income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2025 on a prospective basis and retrospective application is permitted. We are currently evaluating the impact of the adoption of this accounting pronouncement on our Condensed Consolidated Financial Statements.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Note 2. Revenue Disaggregation of Revenue The following table shows revenues disaggregated by revenue stream for the three months ended June 30, 2024 and June 30, 2023, respectively and for the six months ended June 30, 2024 and June 30, 2023, respectively: Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 (in thousands of USD) (in thousands of USD) Paid Content $ 260,709 $ 258,129 $ 527,564 $ 513,821 Advertising 40,419 41,938 77,415 72,450 IP Adaptations 19,844 20,596 42,737 44,649 Total $ 320,972 $ 320,663 $ 647,716 $ 630,920 The revenue stream disaggregation above takes into consideration how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Paid content revenue is generated from the provision of platform services that enable users to access content. Paid content revenue also includes $ 2.5 million and $ 1.8 million of physical book sales through the platform for the three months ended June 30, 2024 and June 30, 2023, respectively and $ 5.2 million and $ 3.8 million for the six months ended June 30, 2024 and June 30, 2023, respectively. Advertising revenue represents amounts earned for the display of advertisements on our offerings or product placement within content. IP Adaptations include the internal development of film, streaming series, or other rich media format adaptations commissioned by third party studios or streaming platforms; the license fees generated from sub-licensing content to third parties are $ 3.6 million and $ 2.8 million for the three months ended June 30, 2024 and June 30, 2023, respectively, and $ 6.8 million and $ 6.0 million for the for the six months ended June 30, 2024 and June 30, 2023, respectively; as well as $ 3.4 million and $ 2.1 million of merchandise sales generated through external platforms, IP royalties, and pop-up stores for the three months ended June 30, 2024 and June 30, 2023, respectively, and $ 8.8 million and $ 3.4 million for the six months ended June 30, 2024 and June 30, 2023, respectively. Contract Liabilities Contract liabilities primarily include payments received for virtual currency prior to the Company satisfying its performance obligation to deliver content to the customer. We recognized revenues of $ 65.8 million and $ 50.1 million during the three months ended June 30, 2024 and June 30, 2023, respectively, and $ 67.8 million and $ 54.9 million during the six months ended June 30, 2024 and June 30, 2023, respectively, that were included within Contract liabilities on the Condensed Consolidated Balance Sheets as of the beginning of the respective period. Our remaining performance obligations were $ 97.5 million and $ 76.7 million as of June 30, 2024 and December 31, 2023, respectively, and we expect to recognize the entire amounts within one year of the respective dates.

Loss per share

Loss per share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Loss per share	Note 3. Loss per share For the three and six months ended June 30, 2023, for the purpose of calculating loss per share and as a result of the common control transaction as described in Note 1. Description of Business and Summary of Significant Accounting Policies, the weighted-average number of shares used in the calculation reflects the outstanding shares of Wattpad as if the equity structure of the Parent (the accounting acquirer) was retroactively stated to reflect the number of shares issued in the Wattpad Transfer. Basic loss per share is computed using the weighted-average number of outstanding shares of common stock during the period, including vested restricted stock units ("RSUs"). Diluted loss per share is computed using the weighted average number of outstanding shares of common stock and, potentially dilutive common shares outstanding during the period. Potentially dilutive common shares consist of incremental shares issuable upon the assumed exercise of stock options and vesting of unvested RSUs. For the three and six months ended June 30, 2024 and June 30, 2023, the Company's Korean subsidiaries and equity method investees each had outstanding stock options that will be settled in each respective subsidiary or equity method investee's common shares. The numerator of the Company's loss per share includes the Parent's proportionate share of the diluted earnings or loss per share impact of outstanding subsidiaries and equity method investees' stock options. The following table sets forth the computation of basic and diluted loss per share, as adjusted on a retrospective basis to reflect the Stock Split as discussed in Note 1. Description of Business and Summary of Significant Accounting Policies , for the three months ended June 30, 2024 and June 30, 2023, respectively, and for the six months ended June 30, 2024 and June 30, 2023, respectively (in thousands of USD, except share and per share amounts): Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Basic loss per share: Net loss attributable to WEBTOON Entertainment Inc. $ ( 76,885 ) $ ( 20,118 ) $ ( 70,693 ) $ ( 37,679 ) Add: allocation to subsidiary / equity method investee participating security 1 — 47 123 105 Net loss attributable to WEBTOON Entertainment Inc. $ ( 76,885 ) $ ( 20,071 ) $ ( 70,570 ) $ ( 37,574 ) Shares used in computation: Weighted-average common shares outstanding 110,102,868 109,505,150 109,804,009 109,505,150 Basic loss per share: $ ( 0.70 ) $ ( 0.18 ) $ ( 0.64 ) $ ( 0.34 ) Diluted loss per share: Net loss attributable to WEBTOON Entertainment Inc. $ ( 76,885 ) $ ( 20,071 ) $ ( 70,570 ) $ ( 37,574 ) Add: dilutive impact of subsidiary / equity method investee stock options ( 5 ) ( 0 ) ( 4 ) — Diluted net loss attributable to WEBTOON Entertainment Inc. $ ( 76,890 ) $ ( 20,071 ) $ ( 70,574 ) $ ( 37,574 ) Shares used in computation: Weighted-average common shares outstanding 110,102,868 109,505,150 109,804,009 109,505,150 Diluted loss per share $ ( 0.70 ) $ ( 0.18 ) $ ( 0.64 ) $ ( 0.34 ) 1. Represents net loss allocable to Jakga Company Inc. ("Jakga") redeemable convertible preferred stock which is a participating security per ASC 260. Jakga became an equity method investee from a subsidiary when it was deconsolidated on March 28, 2024 (Refer to Note 14. Disposition for additional information for Jakga disposition ). The following potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period: Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Stock options 11,058,779 9,108,960 11,058,779 9,108,960 Unvested RSUs 2,710,567 — 2,710,567 — Subsidiary / equity method investee stock options 6,000 367,059 7,800 645,059 Total 13,775,346 9,476,019 13,777,146 9,754,019

Other Assets, net

Other Assets, net	6 Months Ended
	Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets, net	Note 4. Other Assets, net Other Current Assets, net As of June 30, 2024 December 31, 2023 (in thousands of USD) Advance payments, net $ 35,815 $ 37,148 Term deposits 22,680 19,875 Prepaid expenses 12,684 17,045 Other current assets, net 9,460 8,411 Total other current assets, net $ 80,639 $ 82,479 Advance payments are primarily comprised of the payment of minimum guarantees to creators or publishers for their provision of content, such as web-comics, on the Company’s platform. The advance payments are amortized as associated commission expenses payable to creators or publishers are incurred. When the Company determines the estimated future commission expenses payable are less than the carrying amount of such advance payments, the remaining portion of that advance payment is charged to expense in the period in which such determination is made. The Company charged advance payments to expense due to such determination in the amounts of $ 0.1 million and $ 1.2 million as of June 30, 2024 and December 31, 2023, respectively. Term deposits are bank deposits held by Korean and Japanese subsidiaries of the Company maturing between three months and one year as of June 30, 2024 and December 31, 2023. As of June 30, 2024 and December 31, 2023, $ 6.8 million and $ 7.1 million of the term deposit balance was pledged to Sumitomo Mitsui Banking Corporation as a compensating balance deposit on contract liabilities of the Company’s subsidiary in accordance with the Payment Services Act in Japan, respectively. Other Non-Current Assets, net As of June 30, 2024 December 31, 2023 (in thousands of USD) Advance payments, net $ 35,974 $ 29,181 Long-term loans, net 33,955 29,017 Other non-current assets, net 1,922 6,238 Total other non-current assets, net $ 71,851 $ 64,436 Long-term advance payments represent the portion of advance payments expected to remain on the balance sheet beyond one year. When the Company determines the estimated future commission expenses payable are less than the carrying amount of the long-term advance payments, the remaining portion of that long-term advance payment is charged to expense in the period in which such determination is made. The Company charged long-term advance payments to expense due to such determination in the amounts of $ 4.1 million and $ 4.4 million as of June 30, 2024 and December 31, 2023, respectively.

Goodwill, net

Goodwill, net	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, net	Note 5. Goodwill, net The changes in the carrying amount of goodwill for the six months ended June 30, 2024 and June 30, 2023 are as follows: Six Months Ended June 30, 2024 June 30, 2023 (in thousands of USD) Goodwill at January 1 $ 843,298 $ 884,052 Less: accumulated impairment losses ( 64,122 ) — Goodwill, net at January 1 $ 779,176 $ 884,052 Goodwill Activity: Foreign currency translation adjustments ( 14,523 ) ( 8,461 ) Goodwill disposed ( 44,326 ) — Accumulated impairment loss disposed 30,732 — Goodwill, net at March 31 $ 751,059 $ 875,591 Goodwill at March 31 $ 781,975 $ 875,591 Less: accumulated impairment losses 1 ( 30,916 ) — Goodwill, net at March 31 751,059 875,591 Goodwill Activity: Foreign currency translation adjustments ( 9,752 ) ( 8,719 ) Goodwill disposed — ( 30,255 ) Accumulated impairment loss disposed — — Goodwill, net at June 30 $ 741,307 $ 836,617 Goodwill at June 30 $ 771,464 $ 836,617 Less: accumulated impairment losses 2 ( 30,157 ) — Goodwill, net at June 30 $ 741,307 $ 836,617 1. Accumulated impairment losses as of March 31, 2024 include $ 31.7 million of impairment charges and $( 0.8 ) million of cumulative translation adjustments (“CTA") charges. 2. Accumulated impairment losses as of June 30, 2024 include $ 31.7 million of impairment charges and $( 1.5 ) million of CTA charges. In March 2024, the Company deconsolidated Jakga which resulted in the Company derecognizing goodwill related to the reporting unit of $ 13.6 million (see Note 14. Disposition ). In June 2023, the Company deconsolidated LOCUS Inc. ("LOCUS") which resulted in the Company derecognizing goodwill related to the reporting unit of $ 30.3 million (see Note 14. Disposition ). The Company is required to assess goodwill for impairment annually, or more frequently if circumstances indicate an impairment may have occurred. For the six months ended June 30, 2024 and June 30, 2023, the Company recognized no goodwill impairment.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Note 6. Leases Supplemental disclosure of cash flow information related to operating leases is as follows for the three months ended June 30, 2024 and June 30, 2023, respectively and for the six months ended June 30, 2024 and June 30, 2023, respectively: Six Months Ended June 30, 2024 June 30, 2023 (in thousands of USD) Cash paid for amounts included in the measurement of operating lease liabilities $ 4,949 $ 5,584 Right-of-use assets obtained in exchange for operating lease liabilities 18 110 In April 2024, the Company amended the lease term of an office located in Korea. The expiration date of the lease was amended from April 30, 2027 to October 31, 2024 resulting in a right-of-use assets decrease of $ 14.1 million and of which $ 0.9 million is comprised of the reversal of a restoration provision. The Company subleases a portion of the operating lease right-of-use assets for buildings. Total other income generated from subleases is $ 0.1 million and $ 0.2 million for the three months ended June 30, 2024 and June 30, 2023, respectively, and $ 0.2 million and $ 0.3 million for the six months ended June 30, 2024 and June 30, 2023, respectively, and is included within Other income (loss), net of the Condensed Consolidated Statements of Operations and Comprehensive Loss.

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Note 7. Debt Short-Term Borrowings The short-term debt from Industrial Bank of Korea held by Jakga which had a carrying value of $ 0.4 million as of December 31, 2023 with maturity date in June 2024 was derecognized from the Company's Condensed Consolidated Financial Statements as of June 30, 2024 due to Jakga deconsolidation on March 28, 2024. Consequently, the underlying collateral consisting of the Company's pledged assets, land and building, which were recorded as assets held for sale in the Company's Condensed Consolidated Financial Statements with a carrying value of $ 6.8 million as of December 31, 2023 were also excluded from the Company's Consolidated Financial Statements as of June 30, 2024. (Refer to Note 14. Disposition for additional information for Jakga disposition). In April 2024, Studio N Corporation ("Studio N"), a subsidiary of the Company, repaid short-term borrowing of $ 3.6 million from NW Media Contents, Inc. ("NWMC"). Long-Term Debt The long-term debt from Korea Small and Medium-sized Enterprises and Startups Agency (KOSME) held by Jakga which had a carrying value of $ 0.1 million as of December 31, 2023 with the maturity date in February and August 2025 was derecognized from the Company's Condensed Consolidated Financial Statements as of June 30, 2024 as Jakga was deconsolidated on March 28, 2024 (Refer to Note 14. Disposition for additional information for Jakga disposition). Revolving Credit Facility In February and April 2022, the Company entered into one-year revolving credit facility arrangements with Shinhan Bank, KEB Hana Bank and Kookmin Bank. The revolving credit facility arrangements were extended for an additional one-year term during the three months ended June 30, 2023 and the arrangements with Shinhan Bank and KEB Hana Bank were further extended for an additional one-year term during the three months ended June 30, 2024. The revolving credit facility arrangements with Kookmin Bank ended in April 2024 and a new revolving credit facility arrangement was entered into for a period of one-year , with a borrowing capacity of $ 21.6 million . As of June 30, 2024 and June 30, 2023, the Company has no t drawn any amounts from these facilities.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencie s Contingencies The Company records a loss contingency, consistent with ASC 450, when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company also discloses material contingencies when it believes a loss is not probable but reasonably possible. Accounting for contingencies requires us to use judgment related to both the likelihood of a loss and the estimate of the amount or range of loss. Legal Proceedings The Company is involved in a number of claims pending with various courts, or otherwise unresolved as of June 30, 2024. Adverse results in these claims may include awards of damages and may also result in, or even compel a change in the Company’s business practices, which could materially impact the Company’s future financial results. The Company cannot determine the potential loss or a range of possible losses for cases in their initial stages or where there is an unclear and inconsistent interpretation of laws related to the industry-specific grievances across various jurisdictions. Though the outcome of pending lawsuits and claims cannot be anticipated with certainty, the Company does not expect adverse results from its pending lawsuits and claims as of June 30, 2024. The timing and outcome of ongoing legal proceedings are uncertain by nature. Therefore, while management deems the chance of a significant loss for all pending claims, whether asserted or unasserted, to be remote, the resolution of one or more of these legal matters against the Company during the same reporting period in excess of management's projections could negatively impact the Company's Condensed Consolidated Financial Statements for that reporting period.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 9. Stock-Based Compensation 2020 Plan In No vember 2020, the Company’s Board of Directors approved and adopted the 2020 Equity Incentive Plan which was amended and restated in December 2021, February 2023 and in November 2023 ("2020 Plan") . The Company granted stock options that vest upon the satisfaction of both service-based and performance-based conditions and stock options that vest upon satisfaction of a service-based condition. In addition, the Company granted RSUs that vest upon the satisfaction of both service-based and performance-based conditions and RSUs that vest upon the satisfaction of either a service-based condition or a performance-based condition. For the stock options and RSUs with the performance conditions satisfied upon the completion of the Company's IPO, the Company recorded $ 48.6 million in stock-based compensation expense, consisting primarily of a cumulative catch-up adjustment related to such awards based on the full or partial fulfillment of requisite service periods. Unrecognized stock-based compensation expense related to these awards will be recorded over the remaining requisite service period. Stock options The Company’s stock options are granted with exercise prices equal to the estimated fair value of common stock at the date of grant. Options with a service-based condition and performance-based condition vest on the third anniversary of the grant date, subject to the recipient remaining an employee of the Company. The performance-based condition was satisfied upon the completion of the Company's IPO. Options with only a service-based condition vest quarterly over three years from the vesting start date, subject to the recipient remaining an employee of the Company at each vesting date. Stock options issued under the 2020 Plan expire eight years from the grant date. As of June 30, 2024, the total unrecognized compensation expense related to unvested stock options was $ 16.6 million and is expected to be recognized over the remaining weighted-average service period of 1.77 years using the straight-line method, net of estimated forfeitures. The table below summarizes the Company’s stock option activity: (in thousands of USD, except unit price) Number of Options Weighted- Average Exercise Price Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Balance as of January 1, 2024 10,883,310 $ 14.18 5.78 $ 75,758 Granted 241,920 22.45 Forfeited ( 66,060 ) 16.89 Balance as of June 30, 2024 11,059,170 $ 14.35 5.36 $ 100,674 Options vested and expected to vest as of June 30, 2024 10,881,977 14.24 5.13 100,304 Options exercisable as of June 30, 2024 7,580,085 11.16 4.44 88,407 Restricted Stock Units Under the 2020 Plan, the Company granted RSUs with both a service-based condition and a performance-based condition, RSUs with a service-based condition or a performance-based condition, and RSUs with a service-based condition. RSUs generally vest over one to three years from the vesting start date, subject to the recipient remaining an employee of the Company at each vesting date. The performance condition was satisfied upon the completion of the Company's IPO. As of June 30, 2024, the total unrecognized compensation expense related to unvested RSUs was $ 52.0 million and is expected to be recognized over the remaining weighted-average service period of 2.16 years using the straight-line method and graded-vesting methods, as appropriate, net of estimated forfeitures. The table below summarizes the Company’s RSU activity: (in thousands of USD, except unit price) Number of RSUs Weighted Average Grant-Date Fair Value Balance as of January 1, 2024 509,192 $ 20.34 Granted 2,651,265 22.50 Vested ( 449,890 ) 20.34 Balance as of June 30, 2024 2,710,567 $ 22.46 The following table presents the effects of stock-based compensation in the Condensed Consolidated Statements of Operations and Comprehensive Loss: Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 (in thousands of USD) (in thousands of USD) Cost of revenue $ 5,324 $ 266 $ 5,617 $ 602 Marketing 640 101 755 213 General and administrative expenses 49,096 1,555 51,284 4,866 Total $ 55,060 $ 1,922 $ 57,656 $ 5,681 2024 Omnibus Incentive Plan In June 2024, the Company's board of directors adopted, and the stockholders approved, the 2024 Omnibus Incentive Plan ("2024 Plan"), which became effective on June 14, 2024. The Company initially reserved 10,950,515 shares of common stock for issuance under the 2024 Plan. Under the 2024 Plan, the number of common shares reserved will be increased by 5 % or any such smaller number of shares as determined by the board of directors beginning on January 1, 2025 through January 1, 2034. Shares of common stock subject to an award that expires or is canceled, forfeited or otherwise terminated without delivery of shares, shares tendered in payment of an option, shares covered by a stock-settled stock appreciation right or other award that were not issued upon settlement, and shares delivered or withheld to satisfy any tax withholding obligations will again be available for delivery pursuant to other awards under the 2024 Plan. The 2024 Plan provides for the granting of stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents, other share-based awards, other cash-based awards, substitute awards, and performance awards to employees, consultants, executives, and directors. As of June 30, 2024, no awards have been granted under the 2024 Plan.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 10. Income Taxes The Company is subject to U.S. federal and various state corporate income taxes as well as taxes in foreign jurisdictions where foreign subsidiaries have been established. The Company recorded an income tax expense of $ 1.9 million and $ 11.2 million in the three months ended June 30, 2024 and 2023, respectively. The Company recorded an income tax expense of $ 8.6 million and $ 13.6 million in the six months ended June 30, 2024 and 2023, respectively. The effective tax rate was ( 13.9 )% and ( 55.5 )% for the six months ended June 30, 2024 and 2023. During the six months ended June 30, 2024, the Company recognized a net discrete tax expense of $ 0.5 million, primarily due to the withholding taxes paid in various countries by its Korean subsidiary. During the six months ended June 30, 2023, the Company recognized a net discrete tax expense of $ 9.4 million, primarily due to audit payments made by its Korean subsidiary with respect to a tax audit assessment made by the Korean tax authority and withholding taxes paid in various countries by its Korean subsidiary. The Company’s income tax provision for the six months ended June 30, 2024, is determined using an estimate of the Company’s annual effective tax rate, adjusted for any discrete items reflected in the relevant period. The effective tax rate for the three months ended March 31, 2024 and the six months ended June 30, 2024, were 50.6 % and ( 13.9 )% , respectively. The change in effective tax rate is primarily driven by losses generated from the vesting of stock-based compensation where no tax benefit could be realized. The provision for income taxes differs from the amount of income tax computed by applying the U.S. statutory federal tax rate of 21 % to the loss before income taxes due to tax benefits not recognized as a result of a full valuation allowance established by the Company and most of its foreign subsidiaries along with withholding taxes paid in various countries by the Company's Korean subsidiary.

Retirement Benefits

Retirement Benefits	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Retirement Benefits	Note 11. Retirement Benefits Defined severance benefits The following table provides the components of net periodic benefit costs (income): Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 (in thousands of USD) (in thousands of USD) Current service costs $ 1,320 $ 2,046 $ 2,684 $ 4,173 Interest expense 323 374 656 761 Actuarial gain ( 2,446 ) ( 2,547 ) ( 4,970 ) ( 5,179 ) Net periodic benefit income $ ( 803 ) $ ( 127 ) $ ( 1,630 ) $ ( 245 ) Defined severance contribution During the three months ended June 30, 2024 and June 30, 2023, we recognized expense of $ 0.6 million and $ 0.9 million, respectively and for the six months ended June 30, 2024 and June 30, 2023 expense of $ 1.9 million and $ 1.5 million, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 12. Fair Value Measurements A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The table below presents the valuation techniques and the nature of significant inputs generally used in determining the fair value of Level 3 Instruments. Level 3 Instruments Valuation Techniques and Significant Inputs Debt and Equity Securities Recent third-party investments or pending transactions are considered to be the best evidence for any change in fair value. When these are not available, the following valuation methodologies are used, as appropriate and available (i) Transactions in similar instruments; (ii) discounted cash flow techniques; (iii) third party appraisals; (iv) binomial option pricing models; and (v) industry multiples and public comparables. Evidence of value in investees includes recent or pending reorganizations (for example, merger proposals, tender offers and debt restructurings) and significant changes in financial metrics, including (i) current financial performance as compared to projected performance; (ii) capitalization rates and multiples; and (iii) market yields implied by transactions of similar or related assets. The tables below present the ranges of significant unobservable inputs used to value the Company’s Level 3 assets as of June 30, 2024 and December 31, 2023. These ranges do not represent a range of values for any single instrument. For example, the lowest discount rate for a particular redeemable convertible preferred stock investment may be appropriate for valuing that specific debt security but may not be appropriate for valuing any other debt securities in this asset class. Accordingly, the ranges of inputs presented below do not represent uncertainty in, or possible ranges of, fair value measurements of the Company’s Level 3 assets. Level 3 Instruments Amount Valuation Techniques Significant Range of Significant As of June 30, 2024 Debt Securities Redeemable convertible preferred stock $ 51,025 Option pricing model Discount rate 9.82 %- 23.71 % Volatility 33.5 %- 65.39 % Total $ 51,025 Equity Securities Redeemable convertible preferred stock $ 15,000 Measurement alternative Contribution to investment fund 535 Measurement alternative Private equity securities 54 Measurement alternative Convertible preferred stock 8,707 Option pricing model Discount rate 4.41 %- 18.26 % Volatility 40.5 %- 49.6 % Total $ 24,296 As of December 31, 2023 Debt Securities Redeemable convertible preferred stock $ 48,277 Option pricing model Discount rate 9.82 %- 23.71 % Volatility 33.5 %- 65.39 % Total $ 48,277 Equity Securities Redeemable convertible preferred stock $ 15,000 Measurement alternative Contribution to investment fund 574 Measurement alternative Private equity securities 857 Measurement alternative Convertible preferred stock 8,152 Option pricing model Discount rate 4.41 %- 18.26 % Volatility 40.5 %- 49.6 % Convertible preferred stock 2,264 Measurement alternative Total $ 26,847 As noted above, either the binomial optional pricing model or market approach were used in the determination of fair value of Level 3 assets as of June 30, 2024 and December 31, 2023. The significant unobservable inputs used in the binomial option pricing model are the discount rate or market yield used to discount the estimated future cash flows expected to be received from the underlying investment, which include both future principal and interest payments. An increase in the discount rate or market yield would result in a decrease in the fair value. Included in the consideration and selection of discount rates or market yields is risk of default, rating of the investment, call provisions and comparable company investments. The significant unobservable inputs used in the market approach are based on market comparable transactions and market multiples of publicly traded comparable companies. Increases or decreases in market comparable transactions or market multiples would result in an increase or decrease in the fair value. The below tables present a summary of changes in fair value of Level 1 and Level 3 assets, included within Debt and equity securities in the Condensed Consolidated Financial Balance Sheets, by investment type (in thousands of USD): Six Months Ended June 30, 2024 Level 1 Level 3 Total Equity Equity Debt Debt & Beginning balance, January 1 $ 16,109 $ 26,847 $ 48,277 $ 91,233 Business disposition — ( 776 ) 6,522 5,746 Net unrealized gain 3,352 19 — 3,371 Sales and settlement — ( 4 ) — ( 4 ) Reclassification ( 18,701 ) — — ( 18,701 ) Currency translation differences ( 757 ) ( 398 ) ( 2,148 ) ( 3,303 ) Ending balance, March 31, $ 3 $ 25,688 $ 52,651 78,342 Net unrealized gain — 1,852 — 1,852 Sales and settlement — ( 2,709 ) ( 19 ) ( 2,728 ) Currency translation differences — ( 535 ) ( 1,607 ) ( 2,142 ) Ending balance, June 30 $ 3 $ 24,296 $ 51,025 $ 75,324 Six Months Ended June 30, 2023 Level 1 Level 3 Total Equity Equity Debt Debt & Beginning balance, January 1 $ 8,680 $ 31,672 $ 68,787 $ 109,139 Purchases — 46 — 46 Net unrealized gain 117 128 — 245 Currency translation differences 7 ( 617 ) ( 1,926 ) ( 2,536 ) Ending balance, March 31, $ 8,804 $ 31,229 $ 66,861 $ 106,894 Purchases — — 675 675 Business disposition — ( 1,630 ) 2,323 693 Net unrealized gain (loss) 858 ( 3 ) — 855 Reclassification 19 ( 19 ) — — Currency translation differences ( 786 ) ( 87 ) ( 461 ) ( 1,334 ) Ending balance, June 30 $ 8,895 $ 29,490 $ 69,398 $ 107,783 The Level 1 equity securities relate to investments in public equity securities that have readily determinable fair values. The Level 3 equity securities relate to the Company's investments in privately held companies through the purchase of convertible preferred stock, private equity securities, contribution to investment fund and redeemable convertible preferred stock. For these equity securities, the Company does not have the ability to exercise significant influence on the investee, and therefore accounts for them as equity securities under ASC Topic 321, Investments in Equity Securities . The Level 3 debt securities relate to the Company's investments in privately held companies through the purchase of redeemable convertible preferred stock that meet the definition of a debt security. For the six months ended June 30, 2024 and June 30, 2023, the Company did no t recognize any realized gain or loss on its Level 3 equity or debt securities.

Related Parties and Variable In

Related Parties and Variable Interest Entity	6 Months Ended
	Jun. 30, 2024
Related Parties And Variable Interest Entity [Abstract]
Related Parties and Variable Interest Entity	Note 13. Related Parties and Variable Interest Entity The Company’s Related Parties NAVER and LY Corporation ("LY", formerly named Z Holdings Corporation) are the primary shareholders of the Parent. Related parties include NAVER's controlled affiliates, Company's management, Company directors, and stakeholders that hold significant influence over the Company. During the three and six months ended June 30, 2024 and June 30, 2023, the Company provided advertising services to NAVER group companies and LY giving rise to related party receivables as of June 30, 2024 and December 31, 2023. Additionally, during the three and six months ended June 30, 2024 and June 30, 2023, the Company received brand-usage and outsourcing services from NAVER and LY, which resulted in the Company recognizing related party payables as of June 30, 2024 and December 31, 2023. In March 2022, the Company started leasing office space from NAVER. Operating lease expenses from the lease were $ 1.5 million and $ 1.5 million during the three months ended June 30, 2024 and June 30, 2023, respectively, and $ 3.0 million and $ 3.1 million during the six months ended June 30, 2024 and June 30, 2023, respectively, with related lease obligations of $ 1.9 million and $ 21.3 million as of June 30, 2024 and December 31, 2023, respectively (Refer to Note 6. Leases for additional information). The Company also subleases part of its office space to other related parties and the total other income generated from subleases was $ 0.1 million and $ 0.2 million for the three months ended June 30, 2024 and June 30, 2023, respectively and $ 0.2 million and $ 0.3 million for the six months ended June 30, 2024 and June 30, 2023, respectively. In April 2022, Studio N, the Company's subsidiary received the NW Media Loan from NAVER, which was transferred to its subsidiary NWMC in June 2022. The NW Media Loan was extended for additional one-year in March 2023. The loan was fully repaid in April 2024 (Refer to Note 7. Debt for additional information for NW Media Loan). In February 2023, the Company issued a one-year loan to its related party, NAVER WEBTOON Company Corporation, for $ 11.6 million with a fixed interest rate of 5.26 %. The loan was extended for additional one-year with a fixed interest rate of 4.6 % in February 2024. During the three and six months ended June 30, 2024 and June 30, 2023, transfers of employees between the Company and its non-consolidated affiliates resulted in the transfer of corresponding severance benefit obligations and cash which is reflected in Payment of severance benefits, net of cash transferred in the Condensed Consolidated Statements of Cash Flows. The Company awarded a non-employee director with 2,832,270 stock options in exchange for non-director services in November 2020. Such options contained a performance-based condition which was satisfied upon the completion of the Company's IPO. The Company recorded the transaction as dividend of $ 16.6 million on such date as a reduction in additional paid-in capital as such director is employed by NAVER (See Note 1. Description of Business and Summary of Significant Accounting Policies for the treatment of stock-based awards issued to employees of NAVER). eBOOK Initiative Japan Co., Ltd. ("eBIJ"), a subsidiary of the Company, receives reimbursements from LY for certain costs and expenses under their platform service agreement. The nature of the costs and expenses reimbursed primarily includes platform service fees, marketing related expenses and other outsourcing fees. For the three and six months ended June 30, 2024, eBIJ received a total gross reimbursement of $ 5.7 million and $ 12.0 million, respectively, which is deducting $ 3.7 million and $ 7.6 million for Cost of revenue, $ 1.6 million and $ 3.5 million for Marketing, and $ 0.5 million and $ 0.9 million for General and administrative expenses, respectively, in the Condensed Consolidated Statements of Operations and Comprehensive Loss. Related Party Transactions and Balances The Company entered into the following significant related party transactions during the periods presented: Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 (in thousands of USD) (in thousands of USD) Revenue generated $ 20,880 $ 27,663 $ 34,167 $ 46,774 Cost of revenue incurred, net 31,508 3,563 40,462 7,143 Marketing expenses incurred (cost reimbursed), net ( 1,036 ) 35 ( 2,941 ) 97 General and administrative expenses incurred, net 7,953 7,602 14,381 16,043 Other income (loss), net 2,885 ( 433 ) 2,679 ( 247 ) The Company had the following significant balances due from and due to related parties as of June 30, 2024 and December 31, 2023: As of June 30, 2024 December 31, 2023 (in thousands of USD) Due from related parties Receivables $ 54,585 $ 63,723 Other current assets 8,672 — Other non-current assets 143 4,243 Loan receivables 30,377 11,633 Due to related parties Current portion of operating lease liabilities 1,899 6,426 Operating lease liabilities — 14,852 NW Media Loan — 3,800 Accounts payable 20,481 6,713 Contract liabilities 1 16,160 Other 146 243 Common Stock Private Placement Simultaneously with the closing of the IPO, the Company completed a stock purchase agreement with its related party, NAVER U.Hub Inc. ("U.Hub"), pursuant to which U.Hub agreed to purchase 2,380,952 shares of common stock of the Company for an aggregate purchase price of $ 50.0 million. The sale of such shares to U.Hub is not registered under the Securities Act and these shares are subject to a 180-day lock-up agreement with the underwriters in connection with this offering. The underwriters did not receive any fees in connection with the sale of such shares. Variable Interest Entity In August 2023, WWS, the Company's wholly-owned subsidiary, entered into a Limited Partnership Agreement with NWMC, a wholly-owned subsidiary of NAVER and a sister company of WEBTOON, to establish Bootcamp Limited Partnership ("Bootcamp") pursuant to Limited Partnerships Act of the Province of Ontario, Canada. Bootcamp aims to distribute or to arrange for the distribution of a film produced by GPM Boot Productions Inc. which is a film adaptation of a web-novel titled Boot Camp published on our platform. WWS is the general partner (“GP”) of Bootcamp and manages as well as makes all operating decisions over Bootcamp and receives a 1.0 % variable interest management fee based on contributed capital. NWMC is the sole limited partner (“LP”) and has no unilateral participating or kick-out rights over the GP. Bootcamp is a VIE over which WWS is the primary beneficiary because the LP with the equity at risk is not able to exercise substantive kick-out rights or participating rights and WWS has the obligation to absorb losses and right to receive benefits that could potentially be significant to Bootcamp. Accordingly, we consolidated Bootcamp into the Condensed Consolidated Financial Statements.

Disposition

Disposition	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Disposition	Note 14. Disposition Jakga On March 28, 2024, the Company entered into a stock transfer agreement with a third party (the “Buyer”), pursuant to which the Buyer agreed to acquire 0.3 % of Jakga voting interests from the Company. The Company completed the sale for consideration of $ 0.1 million in cash. On the same day, Jakga entered into a share investment agreement with another third party, pursuant to which Jakga issued new shares of redeemable convertible preferred stock representing 3.5 % of the voting equity interest of Jakga. Following the completion of the stock transfer agreement and the share investment agreement, the Company entered into a shareholder’s agreement to forgo its ability to appoint a member on Jakga’s board of directors to divest Jakga. The stock transfer agreement, share investment agreement, and shareholder’s agreement (collectively, the “Jakga Transactions”) resulted in a dilution of the Company’s ownership to 49.2 % and losing controlling financial interest in Jakga. The Company deconsolidated Jakga on March 28, 2024 and accounted for the retained common stock as an equity method investment and the retained redeemable convertible preferred stock as a debt security (see additional details related to the redeemable preferred stock in Note 12. Fair Value Measurements ). Jakga became a related party of the Company after the deconsolidation. As of the disposition date, the retained common stock and redeemable convertible preferred stock in Jakga were measured at fair value using a discounted cash flow model applying a discount rate of 15.1 % and a terminal growth rate of 1.0 % incorporating historical financial information, business plans of Jakga, and market outlook information. The Company recorded a $ 2.5 million loss on disposition of Jakga in Other income (loss), net in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Loss for the six months ended June 30, 2024. The loss includes the accounting for assets sold, liabilities transferred upon sale and the loss of $ 2.1 million relating to the remeasurement of the retained interest in Jakga. The Company has accounted for the transaction as follows (in thousands of USD): Cash consideration received $ 149 Fair value of retained common stock of Jakga by the Company 3,075 Fair value of retained redeemable convertible preferred stock of Jakga by the Company 6,432 Carrying value of non-controlling interest in Jakga held by other than the Company 3,861 Carrying amount of net assets of Jakga including goodwill, identified intangibles and deferred tax liabilities ( 15,998 ) Loss on disposal of Jakga $ ( 2,481 ) LOCUS On June 2, 2023, the Company entered into stock transfer agreements with two unrelated parties, (the “Buyers”) pursuant to which the Buyers agreed to collectively acquire 14.4 % of LOCUS voting interests from the Company. On June 27, 2023, the Company completed the sale for an aggregate consideration of $ 5.0 million in cash. As a result of the sale, the voting interest of LOCUS held by the Company decreased from 53.6 % to 39.2 % and the Company no longer held a controlling financial interest in LOCUS, and deconsolidated LOCUS and its subsidiaries on June 27, 2023, and recognized the retained non-controlling interest in LOCUS as an equity method investment. LOCUS and its subsidiaries became related parties of the Company after the deconsolidation. As of the disposition date, the retained interest in LOCUS was measured at fair value using a discounted cash flow model applying a discount rate of 16.0 % and a terminal growth rate of 1.0 % incorporating historical financial information, business plans of LOCUS and its subsidiaries, and market outlook information. The Company recorded a $ 0.8 million loss on sale of the 14.4 % of the voting interests of LOCUS in Other income (loss), net in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended and six months ended June 30, 2023. The loss includes the accounting for assets sold, liabilities transferred upon sale and the gain of $ 0.6 million relating to the remeasurement of the retained interest in LOCUS. The Company has accounted for the transaction as follows (in thousands of USD): Cash consideration received $ 4,951 Retained non-controlling interest in LOCUS by the Company at fair value 13,436 Carrying amount of non-controlling interest in LOCUS held by other than the Company 11,132 Carrying amount of net assets of LOCUS including goodwill, identified intangibles and deferred tax liabilities ( 30,302 ) Loss on sale of LOCUS $ ( 783 )

Equity Method Investments

Equity Method Investments	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Note 15. Equity Method Investments The Company accounts for investments using the equity method when the Company can exercise significant influence over operating and financial policies, but does not hold a controlling interest in the investee. Due to the Jakga Transactions entered by the Company on March 28, 2024, the Company's voting equity interest in Jakga reduced to 49.2 %, and the Company no longer held a controlling financial interest. The Company deconsolidated Jakga and recognized the retained common stock of Jakga as an equity method investment (see additional details in Note 14. Disposition ). In March 2024, the Company began to exercise significant influence over CELSYS, Inc. ("CELSYS") due to its appointment of a director to CELSYS's board of directors. Accordingly, it reclassified its $ 18.3 million investment in shares of common stock of CELSYS from equity securities to an equity method investment. In March 2024, the Company acquired 33,593 shares of common stock of Namooactors Entertainment ("Namooactors"), which represents 20.0 % voting interest, for $ 4.6 million in cash. The Company accounted for the investment in Namooactors using the equity method. In March 2024, the Company invested in STUDIO WHITE Limited Liability Partnership ("STUDIO WHITE"), which represents 40.0 % partnership interest, for $ 0.8 million in cash. The Company accounted for the investment in STUDIO WHITE using the equity method. In May 2024, the Company sold 15,000 shares of common stock of Studio Dragon Japan CO., LTD. ("SDJ"), which represents the Company's entire voting interest in SDJ, for $ 5.7 million in cash. As a result of the sale, the Company no longer retained any interest nor had the ability to exercise significant influence over SDJ.

Redeemable Non-Controlling Inte

Redeemable Non-Controlling Interest in Subsidiary	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Redeemable Non-Controlling Interest in Subsidiary	Note 16. Redeemable Non-Controlling Interest in Subsidiary The following table summarizes the activity related to the redeemable non-controlling interest in the subsidiary for the periods indicated below (in thousands of USD): 2024 2023 Balance as of January 1 $ 41,429 $ 46,964 Net income attributable to redeemable non-controlling interest 96 ( 411 ) Balance as of March 31 41,525 46,553 Net income attributable to redeemable non-controlling interest 181 ( 83 ) Balance as of June 30 $ 41,706 $ 46,470

Non-Controlling Interest in Sub

Non-Controlling Interest in Subsidiaries	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Non-Controlling Interest in Subsidiaries	Note 17. Non-Controlling Interest in Subsidiaries The Company has non-controlling interests in several of its subsidiaries. The balances of non-controlling interest as of June 30, 2024 and December 31, 2023 are as follows (in thousands of USD): As of June 30, 2024 December 31, 2023 Munpia 1 $ 50,566 $ 49,817 Jakga 2 — 3,832 Bootcamp 3 3,257 3,257 Total $ 53,823 $ 56,906 1. The Munpia non-controlling interest balance excludes redeemable non-controlling interest (See Note 16. Redeemable Non-Controlling Interest in Subsidiary for detail). 2. The Jakga non-controlling interest balance is no longer included as Jakga was deconsolidated in March 2024 (See Note 14. Disposition for detail). 3. The portion of net assets in Bootcamp attributable to the LP represents a non-controlling interest (See Note 13. Related Parties and Variable Interest Entity for detail).

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 18. Subsequent Events In July 2024, the underwriters exercised the over-allotment option to purchase 1,371,549 common shares (See Note 1. Description of Business and Summary of Significant Accounting Policies for additional information for the over-allotment option). The Company received $ 26.8 million , net of underwriting discounts and commissions, from the issuance and sale of the common shares. In July 2024, the NAVER WEBTOON entered into an agreement with Shinhan Bank, pursuant to which $ 3.6 million in deposits with the bank has been pledged as collateral for employee stock option related loans for officers and employees of NAVER WEBTOON, to the extent they are not also officers of the Parent.

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Organization and Description of Business	Organization and Description of Business WEBTOON Entertainment Inc. (the "Parent"), together with its subsidiaries, (the "Company", "we", “us” or “our”), is a majority-owned subsidiary of NAVER Corporation (“NAVER”), who is a leading online and web-comic platform service company. We provide hosting services for compact web-comics through both web and mobile applications and offer thousands of titles with episodes that are updated on a daily basis. We offer extensive and diverse genres of content, including fantasy, romance, and science fiction, on our platform. Platform refers to the various offerings through which we engage with users across diverse geographical markets including Korea, the United States, Japan, Southeast Asia, and Europe. Wattpad Corporation ("Wattpad"), together with its subsidiaries, is a global multi-platform entertainment company for original stories, content and advertising which became a wholly-owned subsidiary of NAVER and a sister entity of the Parent when it was acquired by NAVER on May 10, 2021. On June 1, 2023, the Parent entered into a stock contribution agreement with NAVER pursuant to which the Parent acquired 100 % of the common shares of Wattpad in exchange for 12,413,458 shares of the common stock of the Parent (the "Wattpad Transfer"). The Wattpad Transfer was accounted for as a common control transaction in a manner similar to the pooling-of-interest method. Thus, the financial statements of the commonly controlled entities were combined, retrospectively, as if the transactions had occurred as of January 1, 2022.
Basis of Presentation	Basis of Presentation For the period prior to June 1, 2023, the accompanying unaudited interim financial statements and footnotes present the combined Parent and Wattpad consolidated financial information. For the period after June 1, 2023, Wattpad is presented as part of the Company consolidated financial information. These financial statements and footnotes are therefore referred to as "Condensed Consolidated Financial Statements" throughout. NAVER’s equity interest in Wattpad during the period preceding the Wattpad Transfer is reflected within "Group Equity" within the Condensed Consolidated Statements of Stockholders' Equity and Group Equity. Upon completion of the Wattpad Transfer, the Company acquired NAVER's equity interest in Wattpad and the Group Equity is no longer applicable. The unaudited condensed consolidated interim financial information reflects all normal recurring adjustments that are, in the opinion of management, necessary for fair statement of the results of the interim period. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2023. Interim results are not necessarily indicative of the results for a full year. The following is provided to update the Company’s significant accounting policies previously described in the Company’s audited consolidated financial statements and notes as of and for the year ended December 31, 2023 included in the final prospectus dated June 26, 2024, as filed with the SEC pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (Registration No. 333-279863) (the "IPO Prospectus").
Receivables, net of allowance for credit losses	Receivables, net of allowance for credit losses Receivables, net of allowance for credit losses, are stated at their carrying value, net of allowance for credit losses based on lifetime expected losses. Receivable balances are primarily receivables due from payment gateway providers relating to sales processed for the Company’s online platform service business, as well as receivables from advertising activities, net of estimated allowances for credit losses. The Company estimates the allowance for credit losses based upon historical experience, the age and delinquency rates of receivables and the credit quality of the customers, as well as economic and regulatory conditions combined with reasonable and supportable management forecasts of collectibility and other economic factors over the lifetime of the receivables. The Company writes off accounts against the allowance for credit losses when they are deemed to be uncollectible.
Reclassifications	Reclassifications Certain amounts reported for prior years have been reclassified to conform to the current year's presentation.
Concentrations of Credit Risk	Concentrations of Credit Risk Cash and cash equivalents, receivables and loan receivables are potentially subject to concentration of credit risk. Cash, cash equivalents, and restricted cash are placed with several financial institutions that management believes are of high credit quality. The Company’s receivable include amounts concentrated with three payment gateway companies representing 53.4 % and 49.6 % of the total receivables balance as of June 30, 2024 and December 31, 2023, respectively.Three borrowers represent 89.0 % and 96.6 % of the total loan receivables balance as of June 30, 2024 and December 31, 2023, respectively.
Forward Stock Split, Change in Par Value, Initial Public Offering	Forward Stock Split, Change in Par Value, Initial Public Offering On June 26, 2024, the Company filed an Amended and Restated Certificate of Incorporation (the “Amended Charter'') which effectuated a 30-for-1 forward stock split of its common stock and adjusted the par value of its common stock from $ 0.01 to $ 0.0001 on such date. Accordingly, all share and per share amounts presented in the Condensed Consolidated Financial Statements have been retroactively adjusted to reflect the stock split and change in par value for all periods presented. In lieu of issuing fractional shares, the Company opted to pay the holder thereof an amount in cash equal to the fair market value of such fractional share. The Amended Charter authorized 2,100,000,000 shares of capital stock, consisting of 2,000,000,000 shares of common stock, par value $ 0.0001 per share, and 100,000,000 shares of undesignated preferred stock, par value $ 0.0001 per share. No preferred stock was issued and outstanding as of June 30, 2024 and December 31, 2023. On June 28, 2024, the Company completed its initial public offering (the “IPO”) in which it issued and sold 15,000,000 shares of its common stock at a public offering price of $ 21.00 per share. The Company received proceeds of approximately $ 281.7 million from the IPO, net of underwriting discounts and commissions of $ 22.1 million and offering costs of $ 11.2 million. Additionally, the underwriters have the option, for a period of 30 days, to purchase up to an additional 2,250,000 common shares at the public offering price, less the underwriting discount and commissions to cover over-allotment. On July 26, 2024, the underwriters exercised the over-allotment option to purchase 1,371,549 shares of common stock for proceeds of $ 26.8 million, net of underwriting discounts and commissions. Substantially concurrently with the closing of the IPO, the Company issued 2,380,952 shares of common stock to NAVER U.Hub Inc., a wholly-owned subsidiary of NAVER, at the public offering price of $ 21.00 per share for aggregate proceeds of $ 50.0 million. Prior to the IPO, deferred offering costs, which consist of direct incremental legal, accounting, and other fees relating to the IPO, were capitalized in Other non-current assets on the Condensed Consolidated Balance Sheets. Upon completion of the IPO, all deferred offering costs were reclassified into stockholders’ equity as an offset against proceeds from the IPO. In addition, as of June 30, 2024, the Company had accrued a $ 30.0 million cash bonus that became due to the chief executive officer upon completion of the IPO. The bonus was paid out, less applicable payroll related taxes and expenses, in July 2024.
Stock-Based Awards Issued to Employees of NAVER	Stock-Based Awards Issued to Employees of NAVER The Company issues stock-based awards to employees of NAVER that do not render services to the Company. The Company measures the award based on the grant-date fair value and accounts for the awards as a dividend distribution to NAVER following the attribution principles of Topic 718.
Stock-Based Compensation	Stock-Based Compensation Prior to the IPO, the grant-date fair value of stock-based awards was primarily determined using the estimated fair value of the Company's common stock. Common stock fair value estimates were developed by considering numerous objective and subjective factors that required judgment. Subsequent to the IPO, the Company determines the fair value of its common stock using the market closing price on the grant date.
Change in Filer Status	Change in Filer Status Upon completion of the IPO, the Company ceased to be an "emerging growth company" ("EGC"), as defined in the Jumpstart our Business Startups Act of 2012 ("JOBS Act"), due to exceeding the annual gross revenue threshold. Accordingly, we may no longer take advantage of EGC-related reduced reporting requirements that delay the adoption of new or revised accounting standards that are otherwise applicable to public companies. As the Company has been a public company for less than twelve months and has not yet filed a Form 10-K, the Company complies with non-accelerated public company filer effective dates of adoption. The loss of EGC status did not have a significant impact on our Condensed Consolidated Financial Statements.
Recent Accounting Pronouncements Adopted / Yet to Be Adopted	Recent Accounting Pronouncements Adopted In March 2023, the Financial Accounting Standard Board ("FASB") issued Accounting Standard Update ("ASU") 2023-01, Leases (Topic 842), Common Control Arrangements, which clarifies the accounting for leasehold improvements associated with common control leases. This update is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. The adoption of ASU 2023-01 did not have a material impact on our Condensed Consolidated Financial Statements. Recent Accounting Pronouncements Yet to Be Adopted In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which amends Topic 280 primarily through enhanced disclosures about significant segment expenses. This update is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. ASU 2023-07 became effective for us on January 1, 2024, for the fiscal year ending December 31, 2024 and will become effective on January 1, 2025 for interim periods on a retrospective basis for all periods presented in the financial statements. We are currently evaluating the impact of the adoption of this accounting pronouncement on our Condensed Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes - Improvements to Income Tax Disclosures, which requires enhancements and further transparency to certain income tax disclosures, most notably the tax rate reconciliation and income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2025 on a prospective basis and retrospective application is permitted. We are currently evaluating the impact of the adoption of this accounting pronouncement on our Condensed Consolidated Financial Statements.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Revenues Disaggregated by Stream	The following table shows revenues disaggregated by revenue stream for the three months ended June 30, 2024 and June 30, 2023, respectively and for the six months ended June 30, 2024 and June 30, 2023, respectively: Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 (in thousands of USD) (in thousands of USD) Paid Content $ 260,709 $ 258,129 $ 527,564 $ 513,821 Advertising 40,419 41,938 77,415 72,450 IP Adaptations 19,844 20,596 42,737 44,649 Total $ 320,972 $ 320,663 $ 647,716 $ 630,920

Loss per share (Tables)

Loss per share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss Per Share	The following table sets forth the computation of basic and diluted loss per share, as adjusted on a retrospective basis to reflect the Stock Split as discussed in Note 1. Description of Business and Summary of Significant Accounting Policies , for the three months ended June 30, 2024 and June 30, 2023, respectively, and for the six months ended June 30, 2024 and June 30, 2023, respectively (in thousands of USD, except share and per share amounts): Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Basic loss per share: Net loss attributable to WEBTOON Entertainment Inc. $ ( 76,885 ) $ ( 20,118 ) $ ( 70,693 ) $ ( 37,679 ) Add: allocation to subsidiary / equity method investee participating security 1 — 47 123 105 Net loss attributable to WEBTOON Entertainment Inc. $ ( 76,885 ) $ ( 20,071 ) $ ( 70,570 ) $ ( 37,574 ) Shares used in computation: Weighted-average common shares outstanding 110,102,868 109,505,150 109,804,009 109,505,150 Basic loss per share: $ ( 0.70 ) $ ( 0.18 ) $ ( 0.64 ) $ ( 0.34 ) Diluted loss per share: Net loss attributable to WEBTOON Entertainment Inc. $ ( 76,885 ) $ ( 20,071 ) $ ( 70,570 ) $ ( 37,574 ) Add: dilutive impact of subsidiary / equity method investee stock options ( 5 ) ( 0 ) ( 4 ) — Diluted net loss attributable to WEBTOON Entertainment Inc. $ ( 76,890 ) $ ( 20,071 ) $ ( 70,574 ) $ ( 37,574 ) Shares used in computation: Weighted-average common shares outstanding 110,102,868 109,505,150 109,804,009 109,505,150 Diluted loss per share $ ( 0.70 ) $ ( 0.18 ) $ ( 0.64 ) $ ( 0.34 ) 1. Represents net loss allocable to Jakga Company Inc. ("Jakga") redeemable convertible preferred stock which is a participating security per ASC 260. Jakga became an equity method investee from a subsidiary when it was deconsolidated on March 28, 2024 (Refer to Note 14. Disposition for additional information for Jakga disposition ).
Schedule of Potentially Dilutive Outstanding Securities Were Excluded From The Computation of Diluted Net Loss Per Share	The following potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period: Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Stock options 11,058,779 9,108,960 11,058,779 9,108,960 Unvested RSUs 2,710,567 — 2,710,567 — Subsidiary / equity method investee stock options 6,000 367,059 7,800 645,059 Total 13,775,346 9,476,019 13,777,146 9,754,019

Other Assets, net (Tables)

Other Assets, net (Tables)	6 Months Ended
	Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets, net	Other Current Assets, net As of June 30, 2024 December 31, 2023 (in thousands of USD) Advance payments, net $ 35,815 $ 37,148 Term deposits 22,680 19,875 Prepaid expenses 12,684 17,045 Other current assets, net 9,460 8,411 Total other current assets, net $ 80,639 $ 82,479
Schedule of Other Non-Current Assets, net	Other Non-Current Assets, net As of June 30, 2024 December 31, 2023 (in thousands of USD) Advance payments, net $ 35,974 $ 29,181 Long-term loans, net 33,955 29,017 Other non-current assets, net 1,922 6,238 Total other non-current assets, net $ 71,851 $ 64,436

Goodwill, net (Tables)

Goodwill, net (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the six months ended June 30, 2024 and June 30, 2023 are as follows: Six Months Ended June 30, 2024 June 30, 2023 (in thousands of USD) Goodwill at January 1 $ 843,298 $ 884,052 Less: accumulated impairment losses ( 64,122 ) — Goodwill, net at January 1 $ 779,176 $ 884,052 Goodwill Activity: Foreign currency translation adjustments ( 14,523 ) ( 8,461 ) Goodwill disposed ( 44,326 ) — Accumulated impairment loss disposed 30,732 — Goodwill, net at March 31 $ 751,059 $ 875,591 Goodwill at March 31 $ 781,975 $ 875,591 Less: accumulated impairment losses 1 ( 30,916 ) — Goodwill, net at March 31 751,059 875,591 Goodwill Activity: Foreign currency translation adjustments ( 9,752 ) ( 8,719 ) Goodwill disposed — ( 30,255 ) Accumulated impairment loss disposed — — Goodwill, net at June 30 $ 741,307 $ 836,617 Goodwill at June 30 $ 771,464 $ 836,617 Less: accumulated impairment losses 2 ( 30,157 ) — Goodwill, net at June 30 $ 741,307 $ 836,617 1. Accumulated impairment losses as of March 31, 2024 include $ 31.7 million of impairment charges and $( 0.8 ) million of cumulative translation adjustments (“CTA") charges. 2. Accumulated impairment losses as of June 30, 2024 include $ 31.7 million of impairment charges and $( 1.5 ) million of CTA charges.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Supplemental Cash Flow Information Related to Operating Leases	Supplemental disclosure of cash flow information related to operating leases is as follows for the three months ended June 30, 2024 and June 30, 2023, respectively and for the six months ended June 30, 2024 and June 30, 2023, respectively: Six Months Ended June 30, 2024 June 30, 2023 (in thousands of USD) Cash paid for amounts included in the measurement of operating lease liabilities $ 4,949 $ 5,584 Right-of-use assets obtained in exchange for operating lease liabilities 18 110

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity	The table below summarizes the Company’s stock option activity: (in thousands of USD, except unit price) Number of Options Weighted- Average Exercise Price Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Balance as of January 1, 2024 10,883,310 $ 14.18 5.78 $ 75,758 Granted 241,920 22.45 Forfeited ( 66,060 ) 16.89 Balance as of June 30, 2024 11,059,170 $ 14.35 5.36 $ 100,674 Options vested and expected to vest as of June 30, 2024 10,881,977 14.24 5.13 100,304 Options exercisable as of June 30, 2024 7,580,085 11.16 4.44 88,407
Summary of RSU Activity	The table below summarizes the Company’s RSU activity: (in thousands of USD, except unit price) Number of RSUs Weighted Average Grant-Date Fair Value Balance as of January 1, 2024 509,192 $ 20.34 Granted 2,651,265 22.50 Vested ( 449,890 ) 20.34 Balance as of June 30, 2024 2,710,567 $ 22.46
Summary of Compensation Expenses for All Stock-Based Payment Arrangements	The following table presents the effects of stock-based compensation in the Condensed Consolidated Statements of Operations and Comprehensive Loss: Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 (in thousands of USD) (in thousands of USD) Cost of revenue $ 5,324 $ 266 $ 5,617 $ 602 Marketing 640 101 755 213 General and administrative expenses 49,096 1,555 51,284 4,866 Total $ 55,060 $ 1,922 $ 57,656 $ 5,681

Retirement Benefits (Tables)

Retirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Periodic Benefit Costs (Income)	The following table provides the components of net periodic benefit costs (income): Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 (in thousands of USD) (in thousands of USD) Current service costs $ 1,320 $ 2,046 $ 2,684 $ 4,173 Interest expense 323 374 656 761 Actuarial gain ( 2,446 ) ( 2,547 ) ( 4,970 ) ( 5,179 ) Net periodic benefit income $ ( 803 ) $ ( 127 ) $ ( 1,630 ) $ ( 245 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets	The tables below present the ranges of significant unobservable inputs used to value the Company’s Level 3 assets as of June 30, 2024 and December 31, 2023. These ranges do not represent a range of values for any single instrument. For example, the lowest discount rate for a particular redeemable convertible preferred stock investment may be appropriate for valuing that specific debt security but may not be appropriate for valuing any other debt securities in this asset class. Accordingly, the ranges of inputs presented below do not represent uncertainty in, or possible ranges of, fair value measurements of the Company’s Level 3 assets. Level 3 Instruments Amount Valuation Techniques Significant Range of Significant As of June 30, 2024 Debt Securities Redeemable convertible preferred stock $ 51,025 Option pricing model Discount rate 9.82 %- 23.71 % Volatility 33.5 %- 65.39 % Total $ 51,025 Equity Securities Redeemable convertible preferred stock $ 15,000 Measurement alternative Contribution to investment fund 535 Measurement alternative Private equity securities 54 Measurement alternative Convertible preferred stock 8,707 Option pricing model Discount rate 4.41 %- 18.26 % Volatility 40.5 %- 49.6 % Total $ 24,296 As of December 31, 2023 Debt Securities Redeemable convertible preferred stock $ 48,277 Option pricing model Discount rate 9.82 %- 23.71 % Volatility 33.5 %- 65.39 % Total $ 48,277 Equity Securities Redeemable convertible preferred stock $ 15,000 Measurement alternative Contribution to investment fund 574 Measurement alternative Private equity securities 857 Measurement alternative Convertible preferred stock 8,152 Option pricing model Discount rate 4.41 %- 18.26 % Volatility 40.5 %- 49.6 % Convertible preferred stock 2,264 Measurement alternative Total $ 26,847
Summary of Changes in Fair Value of Level 1 and Level 3 Assets Included Debt and Equity Securities	The below tables present a summary of changes in fair value of Level 1 and Level 3 assets, included within Debt and equity securities in the Condensed Consolidated Financial Balance Sheets, by investment type (in thousands of USD): Six Months Ended June 30, 2024 Level 1 Level 3 Total Equity Equity Debt Debt & Beginning balance, January 1 $ 16,109 $ 26,847 $ 48,277 $ 91,233 Business disposition — ( 776 ) 6,522 5,746 Net unrealized gain 3,352 19 — 3,371 Sales and settlement — ( 4 ) — ( 4 ) Reclassification ( 18,701 ) — — ( 18,701 ) Currency translation differences ( 757 ) ( 398 ) ( 2,148 ) ( 3,303 ) Ending balance, March 31, $ 3 $ 25,688 $ 52,651 78,342 Net unrealized gain — 1,852 — 1,852 Sales and settlement — ( 2,709 ) ( 19 ) ( 2,728 ) Currency translation differences — ( 535 ) ( 1,607 ) ( 2,142 ) Ending balance, June 30 $ 3 $ 24,296 $ 51,025 $ 75,324 Six Months Ended June 30, 2023 Level 1 Level 3 Total Equity Equity Debt Debt & Beginning balance, January 1 $ 8,680 $ 31,672 $ 68,787 $ 109,139 Purchases — 46 — 46 Net unrealized gain 117 128 — 245 Currency translation differences 7 ( 617 ) ( 1,926 ) ( 2,536 ) Ending balance, March 31, $ 8,804 $ 31,229 $ 66,861 $ 106,894 Purchases — — 675 675 Business disposition — ( 1,630 ) 2,323 693 Net unrealized gain (loss) 858 ( 3 ) — 855 Reclassification 19 ( 19 ) — — Currency translation differences ( 786 ) ( 87 ) ( 461 ) ( 1,334 ) Ending balance, June 30 $ 8,895 $ 29,490 $ 69,398 $ 107,783

Related Parties and Variable _2

Related Parties and Variable Interest Entity (Tables)	6 Months Ended
	Jun. 30, 2024
Related Parties And Variable Interest Entity [Abstract]
Schedule of Significant Related Party Transactions	The Company entered into the following significant related party transactions during the periods presented: Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 (in thousands of USD) (in thousands of USD) Revenue generated $ 20,880 $ 27,663 $ 34,167 $ 46,774 Cost of revenue incurred, net 31,508 3,563 40,462 7,143 Marketing expenses incurred (cost reimbursed), net ( 1,036 ) 35 ( 2,941 ) 97 General and administrative expenses incurred, net 7,953 7,602 14,381 16,043 Other income (loss), net 2,885 ( 433 ) 2,679 ( 247 )
Schedule of Significant Balances Due From and Due To Related Parties	The Company had the following significant balances due from and due to related parties as of June 30, 2024 and December 31, 2023: As of June 30, 2024 December 31, 2023 (in thousands of USD) Due from related parties Receivables $ 54,585 $ 63,723 Other current assets 8,672 — Other non-current assets 143 4,243 Loan receivables 30,377 11,633 Due to related parties Current portion of operating lease liabilities 1,899 6,426 Operating lease liabilities — 14,852 NW Media Loan — 3,800 Accounts payable 20,481 6,713 Contract liabilities 1 16,160 Other 146 243

Disposition (Tables)

Disposition (Tables)	6 Months Ended
	Jun. 30, 2024
Jakga Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Schedule of Accounted for Transaction	The Company has accounted for the transaction as follows (in thousands of USD): Cash consideration received $ 149 Fair value of retained common stock of Jakga by the Company 3,075 Fair value of retained redeemable convertible preferred stock of Jakga by the Company 6,432 Carrying value of non-controlling interest in Jakga held by other than the Company 3,861 Carrying amount of net assets of Jakga including goodwill, identified intangibles and deferred tax liabilities ( 15,998 ) Loss on disposal of Jakga $ ( 2,481 )
LOCUS Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Schedule of Accounted for Transaction	The Company has accounted for the transaction as follows (in thousands of USD): Cash consideration received $ 4,951 Retained non-controlling interest in LOCUS by the Company at fair value 13,436 Carrying amount of non-controlling interest in LOCUS held by other than the Company 11,132 Carrying amount of net assets of LOCUS including goodwill, identified intangibles and deferred tax liabilities ( 30,302 ) Loss on sale of LOCUS $ ( 783 )

Redeemable Non-Controlling In_2

Redeemable Non-Controlling Interest in Subsidiary (Tables)	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Summary of Redeemable Noncontrolling Interest in Subsidiary	The following table summarizes the activity related to the redeemable non-controlling interest in the subsidiary for the periods indicated below (in thousands of USD): 2024 2023 Balance as of January 1 $ 41,429 $ 46,964 Net income attributable to redeemable non-controlling interest 96 ( 411 ) Balance as of March 31 41,525 46,553 Net income attributable to redeemable non-controlling interest 181 ( 83 ) Balance as of June 30 $ 41,706 $ 46,470

Non-Controlling Interest in S_2

Non-Controlling Interest in Subsidiaries (Tables)	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Schedule Of Balances Of Non-controlling Interest	The balances of non-controlling interest as of June 30, 2024 and December 31, 2023 are as follows (in thousands of USD): As of June 30, 2024 December 31, 2023 Munpia 1 $ 50,566 $ 49,817 Jakga 2 — 3,832 Bootcamp 3 3,257 3,257 Total $ 53,823 $ 56,906 1. The Munpia non-controlling interest balance excludes redeemable non-controlling interest (See Note 16. Redeemable Non-Controlling Interest in Subsidiary for detail). 2. The Jakga non-controlling interest balance is no longer included as Jakga was deconsolidated in March 2024 (See Note 14. Disposition for detail). 3. The portion of net assets in Bootcamp attributable to the LP represents a non-controlling interest (See Note 13. Related Parties and Variable Interest Entity for detail).

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Millions				6 Months Ended	12 Months Ended
	Jul. 26, 2024 USD ($) shares	Jun. 28, 2024 USD ($) $ / shares shares	Jun. 26, 2024 $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 $ / shares shares	Jun. 25, 2024 $ / shares	Jun. 01, 2024 shares
Business Acquisition [Line Items]
Common shares, shares issued				126,886,102	109,505,150
Stockholders' Equity Note, Stock Split, Conversion Ratio			0.03
Forward stock split description			a 30-for-1 forward stock split
Common shares, par value | $ / shares			$ 0.0001	$ 0.0001	$ 0.0001	$ 0.01
Capital stock authorized			2,100,000,000
Common shares, shares authorized			2,000,000,000	2,000,000,000	2,000,000,000
Preferred stock, shares authorized			100,000,000	100,000,000	100,000,000
Preferred stock, par value | $ / shares			$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock, shares issued				0	0
Preferred stock, shares outstanding				0	0
IPO
Business Acquisition [Line Items]
Shares of common stock		15,000,000
Offering price | $ / shares		$ 21
Net proceeds | $		$ 281.7
Underwriting discounts and commissions | $		22.1
Offering costs | $		$ 11.2
IPO | Chief Executive Officer
Business Acquisition [Line Items]
Accrued bonus | $				$ 30
IPO | NAVER U.Hub Inc
Business Acquisition [Line Items]
Shares of common stock		2,380,952
Offering price | $ / shares		$ 21
Net proceeds | $		$ 50
IPO | Maximum
Business Acquisition [Line Items]
Additional shares of common stock		2,250,000
Over-Allotment Option | Subsequent Event
Business Acquisition [Line Items]
Shares of common stock	1,371,549
Net proceeds | $	$ 26.8
Three Payment Gateways Companies | Customer Concentration Risk | Receivables
Business Acquisition [Line Items]
Concentration risk, percentage				53.40%	49.60%
Three Borrowers | Customer Concentration Risk | Loans Receivables
Business Acquisition [Line Items]
Concentration risk, percentage				89%	96.60%
Wattpad
Business Acquisition [Line Items]
Percentage of ownership acquired							100%
Common shares, shares issued							12,413,458

Revenue - Summary of Revenues D

Revenue - Summary of Revenues Disaggregated by Stream (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	[1]	$ 320,972	$ 320,663	$ 647,716	$ 630,920
Paid Content
Disaggregation of Revenue [Line Items]
Total revenue		260,709	258,129	527,564	513,821
Advertising
Disaggregation of Revenue [Line Items]
Total revenue		40,419	41,938	77,415	72,450
IP Adaptations
Disaggregation of Revenue [Line Items]
Total revenue		$ 19,844	$ 20,596	$ 42,737	$ 44,649
[1] Includes amounts earned from related parties of $ 20,880 and $ 27,663 for the three months ended June 30, 2024 and June 30, 2023, respectively and $ 34,167 and $ 46,774 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity )

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	[1]	$ 320,972	$ 320,663	$ 647,716	$ 630,920
Customer liability revenue recognized during the period		65,800	50,100	67,800	54,900
Paid Content
Disaggregation of Revenue [Line Items]
Revenue		260,709	258,129	527,564	513,821
Paid Content | Physical Book Sales Through Platform
Disaggregation of Revenue [Line Items]
Revenue		2,500	1,800	5,200	3,800
IP Adaptations
Disaggregation of Revenue [Line Items]
Revenue		19,844	20,596	42,737	44,649
IP Adaptations | Licensing Agreements
Disaggregation of Revenue [Line Items]
Revenue		3,600	2,800	6,800	6,000
IP Adaptations | Merchandise Sales
Disaggregation of Revenue [Line Items]
Revenue		$ 3,400	$ 2,100	$ 8,800	$ 3,400
[1] Includes amounts earned from related parties of $ 20,880 and $ 27,663 for the three months ended June 30, 2024 and June 30, 2023, respectively and $ 34,167 and $ 46,774 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity )

Revenue - Additional Informat_2

Revenue - Additional Information1 (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation		$ 76.7
Revenue remaining performance obligation expected		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation	$ 97.5
Revenue remaining performance obligation expected	1 year

Loss per share - Schedule of Ba

Loss per share - Schedule of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic loss per share:
Net loss attributable to WEBTOON Entertainment Inc.	$ (76,885)	$ (20,118)	$ (70,693)	$ (37,679)
Add: allocation to subsidiary / equity method investee participating security1		47	123	105
Net loss attributable to WEBTOON Entertainment Inc.	$ (76,885)	$ (20,071)	$ (70,570)	$ (37,574)
Shares used in computation:
Weighted-average common shares outstanding	110,102,868	109,505,150	109,804,009	109,505,150
Basic loss per share:	$ (0.7)	$ (0.18)	$ (0.64)	$ (0.34)
Diluted loss per share:
Net loss attributable to WEBTOON Entertainment Inc.	$ (76,885)	$ (20,071)	$ (70,570)	$ (37,574)
Add: dilutive impact of subsidiary / equity method investee stock options	(5)	0	(4)
Diluted net loss attributable to WEBTOON Entertainment Inc.	$ (76,890)	$ (20,071)	$ (70,574)	$ (37,574)
Shares used in computation:
Weighted-average common shares outstanding	110,102,868	109,505,150	109,804,009	109,505,150
Weighted-average common shares outstanding - diluted	110,102,868	109,505,150	109,804,009	109,505,150
Diluted loss per share	$ (0.7)	$ (0.18)	$ (0.64)	$ (0.34)

Loss per share - Schedule of Po

Loss per share - Schedule of Potentially Dilutive Outstanding Securities Were Excluded From The Computation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share	13,775,346	9,476,019	13,777,146	9,754,019
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share	11,058,779	9,108,960	11,058,779	9,108,960
Unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share	2,710,567		2,710,567
Subsidiary / Equity Method Investee Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share	6,000	367,059	7,800	645,059

Other Assets, net - Schedule of

Other Assets, net - Schedule of Other Current Assets, net (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Advance payments, net		$ 35,815	$ 37,148
Term deposits		22,680	19,875
Prepaid expenses		12,684	17,045
Other current assets, net		9,460	8,411
Total other current assets, net	[1]	$ 80,639	$ 82,479
[1] Includes amounts due from related parties of $ 8,672 and $– as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity )

Other Assets, net - Schedule _2

Other Assets, net - Schedule of Other Non-Current Assets, net (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Advance payments, net		$ 35,974	$ 29,181
Long-term loans, net		33,955	29,017
Other non-current assets, net		1,922	6,238
Total other non-current assets, net	[1]	$ 71,851	$ 64,436
[1] Includes amounts due from related parties of $ 30,520 and $ 15,876 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity )

Other Assets, net - Additional

Other Assets, net - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Schedule of Other Assets Net [Line Items]
Advance payments charged to expense	$ 100	$ 1,200
Long-term advance payments charged to expense	4,100	4,400
Term deposit pledged	22,680	19,875
Assets Pledged as Collateral
Schedule of Other Assets Net [Line Items]
Term deposit pledged	$ 6,800	$ 7,100

Goodwill, net - Schedule of Cha

Goodwill, net - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 771,464	$ 781,975	$ 836,617	$ 875,591	$ 843,298	$ 884,052
Less: accumulated impairment losses	(30,157)	(30,916)			$ (64,122)
Goodwill net, Beginning Balance	751,059	779,176	875,591	884,052
Foreign currency translation adjustments	(9,752)	(14,523)	(8,719)	(8,461)
Goodwill disposed		(44,326)	(30,255)
Accumulated impairment loss disposed		30,732
Goodwill net, Ending Balance	$ 741,307	$ 751,059	$ 836,617	$ 875,591

Goodwill, net - Schedule of C_2

Goodwill, net - Schedule of Changes in Carrying Amount of Goodwill - Parenthetical (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Impaired, Accumulated Impairment Loss	$ 31.7	$ 31.7
Goodwill Cumulative Translation Adjustments	$ (1.5)	$ (0.8)

Goodwill, net - Additional Info

Goodwill, net - Additional Information (Details) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill [Line Items]
Goodwill disposed			$ (44,326,000)	$ (30,255,000)
Goodwill Impairment					$ 0	$ 0
Jakga Transactions
Goodwill [Line Items]
Goodwill disposed	$ (13,600,000)
LOCUS transactions
Goodwill [Line Items]
Goodwill disposed		$ (30,300,000)

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 4,949	$ 5,584
Right-of-use assets obtained in exchange for operating lease liabilities	$ 18	$ 110

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Apr. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Total other income generated from subleases		$ 0.1	$ 0.2	$ 0.2	$ 0.3
Right-of-use assets decreased resulting from lease-term amendment	$ 14.1
Right-of-use assets decreased resulting from reversal of restoration provision	$ 0.9

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended			6 Months Ended
	Apr. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Apr. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Carrying value							$ 400,000
Asset held for sale							6,827,000
Long-term debt, carrying value							$ 100,000
Repayments of short-term borrowing					$ 3,647,000	$ 6,761,000
Studio N Corporation | NW Media Contents Inc.
Debt Instrument [Line Items]
Repayments of short-term borrowing	$ 3,600,000
Revolving Credit Facility
Debt Instrument [Line Items]
Facilities		$ 0	$ 0		0	$ 0
Revolving Credit Facility | Shinhan Bank, KEB Hana Bank and Kookmin Bank
Debt Instrument [Line Items]
Revolving credit facility				1 year
Extended term			1 year
Revolving Credit Facility | Shinhan Bank and KEB Hana Bank
Debt Instrument [Line Items]
Extended term		1 year
New Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity		$ 21,600,000			$ 21,600,000
Revolving credit facility					1 year

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2024	Nov. 30, 2020	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense		$ 48,600	$ 55,060	$ 1,922	$ 57,656	$ 5,681
Stock options granted					241,920
Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 16,600		16,600		$ 16,600
Unrecognized stock-based compensation expense, period for recognition					1 year 9 months 7 days
Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 52,000		$ 52,000		$ 52,000
Restricted Stock Units [Member] | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period					3 years
Restricted Stock Units [Member] | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period					1 year
Restricted Stock Units with Service Conditions [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense, period for recognition					2 years 1 month 28 days
2020 Plan [Member] | Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expiration period					8 years
Share-based compensation arrangement by share-based payment award, award vesting rights					Options with a service-based condition and performance-based condition vest on the third anniversary of the grant date, subject to the recipient remaining an employee of the Company.
2020 Plan [Member] | Stock Options with Service-Based Condition [Member] | Vest Quarterly Over Three Years [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service period					3 years
2024 Omnibus Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved for issuance	10,950,515		10,950,515		10,950,515
Stock options granted					0
Percentage of automatic increase in reserved shares	5%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Number of Options, Beginning balance	10,883,310
Number of Options, Granted	241,920
Number of Options, Forfeited	(66,060)
Number of Options, Ending balance	11,059,170	10,883,310
Number of Options, Options vested and expected to vest as of June 30, 2024	10,881,977
Number of Options, Options exercisable as of June 30, 2024	7,580,085
Weighted-Average Exercise Price, Beginning balance	$ 14.18
Weighted-Average Exercise Price, Granted	22.45
Weighted-Average Exercise Price, Forfeited	16.89
Weighted-Average Exercise Price, Ending balance	14.35	$ 14.18
Weighted-Average Exercise Price, Options vested and expected to vest as of June 30, 2024	14.24
Weighted-Average Exercise Price, Options exercisable as of June 30, 2024	$ 11.16
Weighted-Average Remaining Contractual Term (in years)	5 years 4 months 9 days	5 years 9 months 10 days
Weighted-Average Remaining Contractual Term (in years), Options vested and expected to vest as of June 30, 2024	5 years 1 month 17 days
Weighted-Average Remaining Contractual Term (in years), Options exercisable as of June 30, 2024	4 years 5 months 8 days
Aggregate Intrinsic Value, Beginning balance	$ 75,758
Aggregate Intrinsic Value, Ending balance	100,674	$ 75,758
Aggregate Intrinsic Value, Options vested and expected to vest as of June 30, 2024	100,304
Aggregate Intrinsic Value, Options exercisable as of June 30, 2024	$ 88,407

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of RSU activity (Details) - Restricted Stock Units [Member]	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of RSUs, Beginning balance | shares	509,192
Number of RSUs, Granted | shares	2,651,265
Number of RSUs, Vested | shares	(449,890)
Number of RSUs, Ending balance | shares	2,710,567
Weighted Average Grant-Date Fair Value, Beginning balance | $ / shares	$ 20.34
Weighted Average Grant-Date Fair Value, Granted | $ / shares	22.5
Weighted Average Grant-Date Fair Value, Vested | $ / shares	20.34
Weighted Average Grant-Date Fair Value, Ending balance | $ / shares	$ 22.46

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Compensation Expenses for All Stock-Based Payment Arrangements (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Nov. 30, 2020	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expenses	$ 48,600	$ 55,060	$ 1,922	$ 57,656	$ 5,681
Cost of Revenue [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expenses		5,324	266	5,617	602
Marketing [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expenses		640	101	755	213
General and Administrative Expenses [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expenses		$ 49,096	$ 1,555	$ 51,284	$ 4,866

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 1,907		$ 11,201	$ 8,575	$ 13,578
Effective income tax rate		50.60%		(13.90%)	(55.50%)
Net discrete tax expense				$ 500	$ 9,400
Federal statutory income tax rate				21%

Retirement Benefits - Schedule

Retirement Benefits - Schedule of Periodic Benefit Costs (Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Current service costs	$ 1,320	$ 2,046	$ 2,684	$ 4,173
Interest expense	323	374	656	761
Actuarial gain	(2,446)	(2,547)	(4,970)	(5,179)
Net periodic benefit income	$ (803)	$ (127)	$ (1,630)	$ (245)

Retirement Benefits - Additiona

Retirement Benefits - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Defined severance contribution, Recognized expense	$ 0.6	$ 0.9	$ 1.9	$ 1.5

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets (Details) - Level 3 $ in Thousands	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	$ 51,025	$ 48,277
Debt Securities | Redeemable Convertible Preferred Stock | Option Pricing Model | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	$ 51,025	$ 48,277
Debt Securities | Redeemable Convertible Preferred Stock | Option Pricing Model | Discount Rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities measurement input	9.82	9.82
Debt Securities | Redeemable Convertible Preferred Stock | Option Pricing Model | Discount Rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities measurement input	23.71	23.71
Debt Securities | Redeemable Convertible Preferred Stock | Option Pricing Model | Volatility | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities measurement input	33.5	33.5
Debt Securities | Redeemable Convertible Preferred Stock | Option Pricing Model | Volatility | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities measurement input	65.39	65.39
Equity Securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities	$ 24,296	$ 26,847
Equity Securities | Redeemable Convertible Preferred Stock | Measurement Alternative
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities	15,000	15,000
Equity Securities | Private Equity Securities | Measurement Alternative
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities	54	857
Equity Securities | Contribution Investment Fund | Measurement Alternative
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities	535	574
Equity Securities | Convertible Preferred Stock | Option Pricing Model | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities	$ 8,707	$ 8,152
Equity Securities | Convertible Preferred Stock | Option Pricing Model | Discount Rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities measurement input	4.41	4.41
Equity Securities | Convertible Preferred Stock | Option Pricing Model | Discount Rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities measurement input	18.26	18.26
Equity Securities | Convertible Preferred Stock | Option Pricing Model | Volatility | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities measurement input	40.5	40.5
Equity Securities | Convertible Preferred Stock | Option Pricing Model | Volatility | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities measurement input	49.6	49.6
Equity Securities | Convertible Preferred Stock | Measurement Alternative
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities		$ 2,264

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Changes in Fair Value of Level 1 and Level 3 Assets Included Debt and Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 78,342	$ 91,233	$ 106,894	$ 109,139
Purchases			675	46
Business disposition		5,746	693
Net unrealized gain (loss)	1,852	3,371	855	245
Sales and settlement	(2,728)	(4)
Reclassification		(18,701)
Currency translation differences	(2,142)	(3,303)	(1,334)	(2,536)
Ending balance	75,324	78,342	107,783	106,894
Level 1 | Equity Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	3	16,109	8,804	8,680
Net unrealized gain (loss)		3,352	858	117
Reclassification		(18,701)	19
Currency translation differences		(757)	(786)	7
Ending balance	3	3	8,895	8,804
Level 3 | Equity Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	25,688	26,847	31,229	31,672
Purchases				46
Business disposition		(776)	(1,630)
Net unrealized gain (loss)	1,852	19	(3)	128
Sales and settlement	(2,709)	(4)
Reclassification			(19)
Currency translation differences	(535)	(398)	(87)	(617)
Ending balance	24,296	25,688	29,490	31,229
Level 3 | Debt Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	52,651	48,277	66,861	68,787
Purchases			675
Business disposition		6,522	2,323
Sales and settlement	(19)
Currency translation differences	(1,607)	(2,148)	(461)	(1,926)
Ending balance	$ 51,025	$ 52,651	$ 69,398	$ 66,861

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and equity securities realized gain or loss	$ 0	$ 0

Related Parties and Variable _3

Related Parties and Variable Interest Entity - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Nov. 30, 2020 shares	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Feb. 29, 2024	Dec. 31, 2023 USD ($)	Feb. 28, 2023 USD ($)
Related Parties And Variable Interest Entity [Line Items]
Operating lease expenses				$ 5,294	$ 6,429
Income from Sublease		$ 100	$ 200	$ 200	300
loan Issued							$ 400
Variable interest management fee				1
Dividend		17,300
NAVER | Private Placement | Common Stock
Related Parties And Variable Interest Entity [Line Items]
Shares of common stock | shares				2,380,952
Aggregate purchase price				$ 50,000
Related Parties | NAVER
Related Parties And Variable Interest Entity [Line Items]
loan Issued								$ 11,600
Fixed interest pecentage						4.60%		5.26%
Dividend				16,600
Related Parties | NAVER | Leasing Office Space
Related Parties And Variable Interest Entity [Line Items]
Operating lease expenses		1,500	1,500	3,000	3,100
Lease obligation		1,900		1,900			$ 21,300
Income from Sublease		100	$ 200	200	$ 300
Non-Employee Director | Stock Options
Related Parties And Variable Interest Entity [Line Items]
Stock options exchange for non-director services | shares	2,832,270
eBOOK Initiative Japan Co., Ltd.
Related Parties And Variable Interest Entity [Line Items]
Total gross reimbursement costs received		5,700		12,000
eBOOK Initiative Japan Co., Ltd. | Cost of Revenue
Related Parties And Variable Interest Entity [Line Items]
Total gross reimbursement costs received		3,700		7,600
eBOOK Initiative Japan Co., Ltd. | Marketing
Related Parties And Variable Interest Entity [Line Items]
Total gross reimbursement costs received		1,600		3,500
eBOOK Initiative Japan Co., Ltd. | General and Administrative Expenses
Related Parties And Variable Interest Entity [Line Items]
Total gross reimbursement costs received		$ 500		$ 900

Related Parties and Variable _4

Related Parties and Variable Interest Entity - Schedule of Significant Related Party Transactions (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transaction [Line Items]
Cost of revenue incurred, net	[1]	$ 237,915	$ 239,518	$ 482,300	$ 483,925
General and administrative expenses incurred, net	[2]	138,705	53,469	187,398	109,838
Other income, net	[3]	2,283	(6,090)	846	(2,052)
Related Parties
Related Party Transaction [Line Items]
Revenue generated		20,880	27,663	34,167	46,774
Cost of revenue incurred, net		31,508	3,563	40,462	7,143
Marketing expenses incurred (cost reimbursed), net		(1,036)	35	(2,941)	97
General and administrative expenses incurred, net		7,953	7,602	14,381	16,043
Other income, net		$ 2,885	$ (433)	$ 2,679	$ (247)
[1] Includes amounts incurred from related parties of $ 31,508 and $ 3,563 for the three months ended June 30, 2024 and June 30, 2023, respectively and $ 40,462 and $ 7,143 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity) Includes amounts incurred from related parties of $ 7,953 and $ 7,602 for three months ended June 30, 2024 and June 30, 2023, respectively and $ 14,381 and $ 16,043 for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity) . Includes amounts earned from related parties of $ 2,885 and $( 433 ) for three months ended June 30, 2024 and June 30, 2023, respectively and $ 2,679 and $( 247 ) for the six months ended June 30, 2024 and June 30, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity)

Related Parties and Variable _5

Related Parties and Variable Interest Entity - Schedule of Significant Balances Due From and Due To Related Parties (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Due From Related Parties [Abstract]
Receivables	[1]	$ 173,446	$ 171,776
Other current assets	[2]	80,639	82,479
Other non-current assets	[3]	71,851	64,436
Due To Related Parties [Abstract]
Current portion of operating lease liabilities	[4]	4,865	9,945
Operating lease liabilities	[5]	2,870	19,238
Accounts payable	[6]	121,374	127,427
Contract liabilities	[7]	97,524	76,722
Other		11,646	12,584
Related Parties
Due From Related Parties [Abstract]
Receivables		54,585	63,723
Other current assets		8,672
Other non-current assets		143	4,243
Loan receivables		30,377	11,633
Due To Related Parties [Abstract]
Current portion of operating lease liabilities		1,899	6,426
Operating lease liabilities			14,852
NW Media Loan			3,800
Accounts payable		20,481	6,713
Contract liabilities		1	16,160
Other		$ 146	$ 243
[1] Includes amounts due from related parties of $ 54,585 and $ 63,723 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due from related parties of $ 8,672 and $– as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due from related parties of $ 30,520 and $ 15,876 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $ 1,899 and $ 6,426 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $– and $ 14,852 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $ 20,481 and $ 6,713 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity ) Includes amounts due to related parties of $ 1 and $ 16,160 as of June 30, 2024 and December 31, 2023, respectively. (See Note 13. Related Parties and Variable Interest Entity )

Disposition - Additional Inform

Disposition - Additional Information (Details) - USD ($) $ in Millions			6 Months Ended
	Mar. 28, 2024	Jun. 27, 2023	Jun. 30, 2024	Jun. 02, 2023
Jakga Inc. | Stock Transfer Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of interest sold in subsidiaries	0.30%
Sale for consideration in cash	$ 0.1
Ownership percentage	49.20%
Percentage of discount rate	15.10%
Percentage of terminal growth rate	1%
Loss on disposition			$ 2.5
Loss on sale of assets and liabilities transferred and loss on remeasurement of retained interest	$ 2.1
Jakga Inc. | Stock Transfer Agreement | Redeemable Convertible Preferred Stock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Temporary equity percentage of voting equity interest issued	3.50%
Jakga Inc. | Jakga Transactions | Webtoon Entertainment Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage	49.20%
LOCUS Inc. | Stock Transfer Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of interest sold in subsidiaries			14.40%	14.40%
Sale for consideration in cash		$ 5
Percentage of discount rate		16%
Percentage of terminal growth rate		1%
Loss on disposition			$ 0.8
Loss on sale of assets and liabilities transferred and gain on remeasurement of retained interest		$ 0.6
LOCUS Inc. | Stock Transfer Agreement | Webtoon Entertainment Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		39.20%		53.60%

Disposition - Schedule of Accou

Disposition - Schedule of Accounted for Transaction (Details) - USD ($) $ in Thousands	Mar. 28, 2024	Jun. 27, 2023	Jun. 30, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Carrying value of non-controlling interest held by other than the Company			$ 53,823	$ 56,906
Jakga Inc. | Stock Transfer Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration received	$ 149
Carrying value of non-controlling interest held by other than the Company	3,861
Carrying amount of net assets including goodwill, identified intangibles and deferred tax liabilities	(15,998)
Loss on disposal/sale	(2,481)
Jakga Inc. | Stock Transfer Agreement | Common Stock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value of retained common stock of Jakga by the Company	3,075
Jakga Inc. | Stock Transfer Agreement | Redeemable Convertible Preferred Stock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value of retained redeemable convertible preferred stock of Jakga by the Company	$ 6,432
LOCUS Inc. | Stock Transfer Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration received		$ 4,951
Retained non-controlling interest in LOCUS by the Company at fair value		13,436
Carrying value of non-controlling interest held by other than the Company		11,132
Carrying amount of net assets including goodwill, identified intangibles and deferred tax liabilities		(30,302)
Loss on disposal/sale		$ (783)

Equity Method Investments - Add

Equity Method Investments - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended		6 Months Ended
	May 31, 2024	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Mar. 28, 2024
Schedule of Equity Method Investments [Line Items]
Reclassification of debt and equity securities to equity method investments			$ 18,256
Purchase of equity method investments			$ 5,798	$ 687
Jakga Inc. | Stock Transfer Agreement
Schedule of Equity Method Investments [Line Items]
Ownership percentage					49.20%
Namooactors Entertainment
Schedule of Equity Method Investments [Line Items]
Equity method investments shares acquired		33,593
Ownership percentage		20%
Purchase of equity method investments		$ 4,600
CELSYS, Inc.
Schedule of Equity Method Investments [Line Items]
Reclassification of debt and equity securities to equity method investments		$ 18,300
STUDIO WHITE
Schedule of Equity Method Investments [Line Items]
Ownership percentage		40%
Purchase of equity method investments		$ 800
Studio Dragon Japan CO., LTD.
Schedule of Equity Method Investments [Line Items]
Shares of common stock	15,000
Equity method investment sold	$ 5,700

Redeemable Non-Controlling In_3

Redeemable Non-Controlling Interest in Subsidiary - Summary of Redeemable Noncontrolling Interest in Subsidiary (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Noncontrolling Interest [Abstract]
Beginning balance	$ 41,525	$ 41,429	$ 46,553	$ 46,964
Net income attributable to redeemable non-controlling interest	181	96	(83)	(411)
Ending balance	$ 41,706	$ 41,525	$ 46,470	$ 46,553

Non-Controlling Interest in S_3

Non-Controlling Interest in Subsidiaries - Schedule Of Balances Of Non-controlling Interest (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated subsidiaries	$ 53,823	$ 56,906
Munpia
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated subsidiaries	50,566	49,817
Jakga
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated subsidiaries		3,832
Bootcamp
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated subsidiaries	$ 3,257	$ 3,257

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Event - USD ($) $ in Millions	Jul. 26, 2024	Jul. 31, 2024
Subsequent Event [Line Items]
Deposits to bank collateral for employee stock option related loans		$ 3.6
Over-Allotment Option
Subsequent Event [Line Items]
Option to purchase common shares	1,371,549
Net proceeds	$ 26.8