Webtoon Entertainment, a Los Angeles-based webcomics platform, has agreed to buy 60% of South Korea’s RI Games Holdings for about US$100 million, adding game development as it expands beyond webcomics.

RI Games was founded in 2022 by Kevin Tail Han, who also founded Redice Studio, and operates GrayGames and Offbeat.

The companies said they plan to develop games over the next four years based on Omniscient Reader, Overgeared, and Doom Breaker.

Webtoon said those series have drawn 3.05 billion, 1.3 billion, and 590 million global views, respectively.

Under the deal, RI Games’ selling shareholder can sell the remaining 40% stake to Webtoon if RI Games hits certain milestones.

If not, Webtoon can sell part of its stake back to the shareholder.

Webtoon also said it is teaming up with Naver Corp. to direct US$100 million to adaptations across film, animation, games, and other media.

The deal adds to Webtoon’s push into games. The company previously partnered with Stillfront’s Nanobit on mobile games based on several Naver Webtoon series, and said the RI Games purchase will be funded with cash on hand.

Webtoon reported US$594.9 million in cash and no debt as of March 31, 2026.

🔗 Source: Bloomberg