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[TREND / KNOWLEDGE]

The Era of the Metaverse: Will It Allow Authors and the Publishing Industry to Coexist?

Publishing Industry   The Era of the Metaverse:Will It Allow Authors and the Publishing Industry to Coexist?   2022.03.07   * Metaverse: Metaverse is a term consisting of “meta,” meaning “virtual” and “transcendent,” and “universe,” meaning space. It refers to a three-dimensional virtual world where social, economic, and cultural activities take place just like reality. * NFT: Meaning “Non-Fungible Token,” NFT refers to a token that represents rare digital assets.   Transition to an era where we can own a famous writer’s poem   On June 5, 2021, the third poem collection Rat and Oyster (Hyundae Munhak) of writer Bae Soo-Yeon was published in the form of an NFT, sold at 2.94 Ethereum on Opensea, an online NFT marketplace. The momentary currency of 2.94 Ethereum was approximately 9 million won, which today costs about 10 million. If we think that a poem col...
  • VOL.44 / 2022.03
[TREND / KNOWLEDGE]

2022 Overseas Publication Grants

Publishing Policy   2022 Overseas Publication Grants   2022.03.07                           01. Overview of grants   ▶ Qualification Overseas publishers who have imported or are planning to import Korean publication copyrights - Books that have been published or are to be published in local markets, beginning November 1st, 2021 to October 31th, 2022 - Such books must be published in the time period and be submitted to the Publication Industry Promotion Agency of Korea (“KPIPA”) by November 7th, 2022 (Monday).   ▶ Scope of selection Around 40 books will be selected, and grants will be provided in amounts varying by region - Europe and North America: USD3,000 - China and Japan: USD2,500 - Other countries: USD2,000   ▶ Grant-winning work of the 〈Ov...
  • VOL.44 / 2022.03
[TREND / KNOWLEDGE]

Korean Publishing Industry's Crisis and Its Future

Publishing Industry   Korean Publishing Industry's Crisis and Its Future   2022.01.03   The Korean publishing industry seems to be facing one of its biggest crises as the new year 2022 approaches. Last year, Korea's 2nd largest book wholesale distributor, Interpark Songin, proceeded with insolvency, and the 3rd largest bookstore Bandi & Luni's (Seoul Book Center), is to be under corporate rehabilitation. Seoul Book Center was expected to go through the procedure considering its unhealthy financial status. Nevertheless, the expectation being realized brought chaos to many partnered publishing companies. From a macro view, how should we interpret the situation faced by the publishing industry? Before we think about the current situation, let's see how big players Interpark Songin and Seoul Book Center came to crumble.   Interpark Songin and Bandi & Luni's news stirred many publishing companies.   June 2020, Korea's 2nd largest book whole...
  • VOL.42 / 2022.01
[TREND / KNOWLEDGE]

Korean Books Seen From a Foreign Blog’s View

Publishing Policy   Korean Books Seen From a Foreign Blog’s View   2021.12.06   Korean content, or K-content, is making outstanding progress in parts of the world in various fields. Korean books are not an exception. While they are spreading their influence in the international market, blogs in other countries that introduce various Korean books are also actively making posts about them. Foreign blogs that criticize and empathize with Korean books in a different style from the domestic market promote Korean books with fresh insights. They not only spark interest but also provide high-quality interpretation and approach. Following are some of the blogs that contribute to the spread of Korean books’ reputation worldwide by covering a wide range of Korean books.   Warm but keen evaluation of Korean books   A variety of content drives empathy from the generation living in this globalized era transcending time and space. Korea’s various cultures are captivating ...
  • VOL.41 / 2021.12
[TREND / KNOWLEDGE]

Facilitation of Sub-rights and Their Markets

Publishing Industry   Facilitation of Sub-rights and Their Markets Plays, Films, Merchandising Goods, Etc.   2021.09.06   As Korea’s soft power expands, more people in the world are taking an interest in Korean culture. The best leaders of Korea’s soft power are BTS, director Bong Joon-Ho who has presented various movies including “Parasite,” and actress Youn Yuh-Jung’s achievement through the movie “Minari.” The values of Korean pop culture are growing, and many people worldwide are sharing Korean culture. Such a phenomenon implies that the opportunities and spaces for sharing Korean culture worldwide develop simultaneously at a rapid pace. It was, therefore, a natural result that people began to pay more attention to Korean publishing content ? the source of the OSMU (once source, multi-use) ? in addition to the phenomenon. All this means that it has become a reality that the number of different usage cases of sub-rights based on Korean publication con...
  • VOL.38 / 2021.09
[TREND / KNOWLEDGE]

Current Status of the Korean Standard Publishing Distribution Data Hub System (BookNet Korea)

Publishing Industry   Current Status of the Korean Standard Publishing Distribution Data Hub System (BookNet Korea) Start-Challenge-Change-Global   2021.08.02   In terms of the market volume, Korea is the 6th largest publishing powerhouse in the world, following the United States, China, Japan, Germany, and Great Britain, who are leaders of the global publishing market, publishing more than 65 thousand titles each year. Various excellent K-books have been recently mesmerizing international readers alongside K-pop, K-drama, and K-movies as well.   Start   However, let’s look into the environment surrounding the distribution of publications in Korea. Information exchanges among publishers, distributors, and local bookstores are not active, hampering systematic marketing activities. The reality in the distribution part is failing to catch up with the advancement of the publishing market. Also, as publishers, distributors, bookstores, and libraries set up their ow...
  • VOL.37 / 2021.08
[INFORMATION / BEST SELLERS]

1st Week, December 2024

Best Sellers   1st Week, December 2024 Best seller Trends in the Three Biggest Online Bookstores in Korea   2025.01.06   The first week of December marks a time to stand at the year’s end and reflect on the time that has passed. It’s also a good time to curl up with a nice book, review the year, and prepare for the new year ahead. In Korea, the excitement over Han Kang’s Nobel Prize in Literature has yet to fade. Readers continued to celebrate Han’s award this month, and the reading fever has never stopped. The book, Trend Korea 2025, which came in at No. 4 despite the competition with Han’s works, has been on the best seller list since its publication, showing readers’ interest in new year trends.Meanwhile, Happy Birthday, which came in at No. 8, is a book by Baek Hee-Na, winner of the Astrid Lindgren Memorial Award, which is regarded as the Nobel Prize for children’s literature. It is a picture book that tells an extraordinary story of re...
  • VOL.78 / 2025.01
[INFORMATION / BEST SELLERS]

1st Week, November 2024

Best Sellers   1st Week, November 2024 Best seller Trends in the Three Biggest Online Bookstores in Korea   2024.12.02   It’s the first week of November in Korea, where the late fall scenery is at its peak. In the midst of a great season for reading, the overall reading boom has been spearheaded by Han Kang, an acclaimed writer in Korea. The afterglow of her Nobel Prize in Literature has hardly faded, and her novels have continued to dominate the best seller lists this month following on from last month. For example, readers’ hearts have continued to be mesmerized by Human Acts, which hit the number one spot in all 3 online bookstores following last month. This was followed by The Vegetarian, which was adapted into a play in France and attracted even more attention, and We Do Not Part, the most up-to-date title, came in third. In addition, her The White Book, I Put the Evening in the Drawer, and Greek Lessons, which sparked a reading frenzy, also made the best ...
  • VOL.77 / 2024.12
[INFORMATION / BEST SELLERS]

2nd Week, October 2024

Best Sellers   2nd Week, October 2024 Best seller Trends in the Three Biggest Online Bookstores in Korea   2024.11.04   It is fall in Korea, a time of year that seems to fly by so quickly that it feels even more precious. In this season, perfect for reading, Han Kang’s winning of the Nobel Prize in Literature has caused a huge sensation in the Korean publishing market. As the first Korean and second Asian to win the Nobel Prize in Literature, Han Kang’s literary success immediately translated into her books becoming best sellers. The jubilation, excitement, and compliments were expressed in the form of “Read Han Kang” by readers. With the festive vibe sweeping through the publishing industry, an unprecedented phenomenon happened: a single author’s works began to dominate the best seller lists. Readers’ interest in Han Kang’s works led tomost of her books selling out, and the excitement of winning the Nobel Prize in Literature was so intense that it overwhe...
  • VOL.76 / 2024.11
[TREND / KNOWLEDGE]

The Rise of Literary Agencies

The Rise of Literary Agencies   2021.06.07   There are not many literary agencies in Korea. Most of the publishers prefer working directly with authors over cooperating with agencies. It was common for publishers to think that it is safer to pay more of an advance to overseas writers who have already finished writing their manuscript or are expected to finish them soon rather than domestic writers who have not yet completed their manuscript.The most significant characteristic of the Korean publishing industry would be “diversity.” The system in which up to 6 thousand small- and medium-sized publishers make more than 80 thousand physical titles each year has greatly diversified the types of books published in Korea, but the limited average sales of each title was an expected outcome. In such an environment, it is difficult to invest a sufficient amount of development fee for each title. Hence, even though the literary agent succeeded in discovering fine manuscripts or o...
  • VOL.35 / 2021.06
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