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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]

Audiobooks in Korea: Users and Service Providers

Audiobooks in Korea: Users and Service Providers Service and Content Providers in Busy Days with Market’s Growing Interest in Audiobooks   2021.04.05     In the previous March edition, we talked about the audiobook industry's current status in Korea and its prospects in 2021. Consumers and service providers play a pivotal role in expanding the market and business opportunities. Furthermore, it is meaningful to witness how they interact with each other in the audiobook ecosystem contributes to the industry’s healthy growth and maturity. In this April’s edition, let’s find what behaviors audiobook consumers have shown to the market.   Recently-made audio content enabling interaction among provider and users, providing a new-level of “experience”.   As the pandemic is not showing any signs of abating, more people are enjoying audiobooks at home instead of going to bookstores or libraries. In the previous edition, we introduced how “Wela...
  • VOL.33 / 2021.04
[TREND / KNOWLEDGE]

Korea’s Audiobook Industry Ready to Fly in 2021

Korea’s Audiobook Industry Ready to Fly in 2021 The ongoing rapid evolution and development of the audiobook industry in Korea   2021.03.08     The most striking news in the new year was Influential, the operating company of an audiobook service platform ‘welaaa’, succeeding in winning 25 billion won worth of Series C sole investment from UTC Investment. This is after another mega-investment in 2020, where it attracted 13.5 billion won worth of Series B investment. Such a fast and massive investment implies that the future of the audiobook industry in Korea is rosy indeed. The domestic e-book industry says that the audiobook market's size has reached 30 billion won in 2020 and is likely to hit 60 billion won in 2021, which is nearly double the size. The audiobook market in Korea was formed in the early 2000s, but its size was trivial, with 10 billion won worth volume even until 2018. Given that situation, it is worth paying attention to the movement th...
  • VOL.32 / 2021.03
[TREND / KNOWLEDGE]

Current status of each field in the Korean publishing market ⑦ Publication of practical books for home

Current status of each field in the Korean publishing market ⑦ Publication of practical books for home   2020.08.03     There is a wide variety of practical books that provide tips for diverse fields necessary in our daily life. So, this part divides the section into two: practical books for making homes and living a good social life. The former type mainly includes areas important at home such as raising children, cooking, keeping fit, and hobbies, while the latter type includes language books and traveling guides that are needed in living a social life. Books that feature tips for maintaining a good social relationship and those for expanding financial property can belong to the latter part as economics and business administration books. Today, we would like to first touch upon the publication of practical books for home.   The number of titles in the field of family & living is decreasing, but other fields are seeing a rising number of publica...
  • VOL.25 / 2020.08
[TREND / KNOWLEDGE]

South Korea’s Key Publishing Related Organizations

South Korea’s Key Publishing Related Organizations   2019.07.08   In South Korea's publishing industry, there are many private organizations. Inside these organizations are members who work for competing businesses, but inside the groups they seek interests and order for the greater good. They also help pass on voices from inside the industry to a larger audience. The following are organizations key to South Korea's publishing industry linked to production, distribution, sales and research. The most representative of publishers' groups would be the Korean Publishers Association, founded in 1947. Inside the group are all kinds of publishers, big and small. So far the association has worked towards creating an order for distribution within South Korea as well as resolving several issues related to the publishing environment. It has also been a driving force for projects aimed at developing the industry on a whole. The association has acted as a window for book de...
  • VOL.13 / 2019.07
[TREND / KNOWLEDGE]

A Diagnosis of South Korea's E-book Market Amid Subscription Competition

A Diagnosis of South Korea's E-book Market Amid Subscription Competition   2019.06.10   On May 9, the Korean Publishers Association held a seminar on current issues that affect the digital publishing industry called 'The Attack of Netflix, Fixed Price System for Books Challenged'. Participants at the seminar debated whether e-book subscription services and the fixed price system for books can co-exist in South Korea. Subscription services refer to online services where members can read an unlimited number of books online after paying low monthly fees, like Netflix. Meanwhile, South Korea's fixed price regulations for book sales prevent bookstores from lowering prices beyond what publishers demand in order to protect small-to-medium sized bookstores and publishers. With the rise of these monthly subscription services, worries have been growing they may shake up the entire fixed price system altogether.The seminar kicked off with an introduction from Chung Won-ok, a senior...
  • VOL.12 / 2019.06
[TREND / TOPIC]

Publishing Strategies Targeting the MZ Generation

Topic   Publishing Strategies Targeting the MZ Generation   2024.02.19   Disappearance of books and/or readers   Is it the disappearance of books, or is it the disappearance of book readers? Or is it both?According to the National Reading Survey released by the Ministry of Culture, Sports, and Tourism in South Korea in 2021, the “annual comprehensive reading rates (the percentage of people who read or listened to at least one paperback, e-book, or audiobook)” for adults aged 19 and older was only 47.5%. That is, 1 in 2 adults did not read or listen to a single book during the year. The belief that literacy is proportional to the amount of reading has become a myth. With a basic illiteracy rate of 1%, Korea boasts the highest literacy levels in the world, but the number of books read is plummeting year after year. In other words, it is the age where people no longer read books.However, despite the pessimistic outlook for the publishing ind...
  • VOL.67 / 2024.02
[INFORMATION / #K-BOOK]

#Sky

#K-Book   #Sky KPIPA Introduces K-Books for Global Publishing Markets through K-Book Platform 2024.04.01   You Too Are a Wheel Lily 1. Publication Details   Title | You Too Are a Wheel LilyAuthor | Lee Geum YiPublisher | BamteePublication Date | 2021-08-05ISBN | 9791191826005No. of pages | 228Dimensions | 148 * 210   2. Book Intro   Since its publication in 1999, You Too Are a Wheel Lily is a classic masterpiece of children’s fairy tales that has sold 700,000 copies, touching the hearts of many children. The value of the story of You Too Are a Wheel Lily is still being recognized. This shows that children’s concerns are not different from those of that time.However, the author thought that for new readers to read in the 21st century, the content should be thoroughly reviewed and revised to fit the sense of the times. With the author’s meticulous efforts, this b...
  • VOL.69 / 2024.04
[TREND / EXPORT CASE]

The Most Korean is the Most Global

Export Case   The Most Korean is the Most Global   2024.02.19   It is the era of Hallyu, the Korean Wave. Korea’s soft power - movies, dramas, cuisine, literature, and more - is shaking up the world. Following the movie “Parasite,” “Squid Game” and “Pachinko,” which were released on global OTT platforms, global curiosity about Korea expanded. Korea is now one of the major tourist destinations frequented by people from all over the world, and Korean food such as ramen, kimbap, and tteokbokki are considered hip and trendy, and have gained immense popularity around the world. People around the world looking to understand Korea a little better are now seeking to read Korean literature and share Korean sentiments. In response to this demand, major publishers around the world have been actively scanning Korean titles for their markets. The enthusiasm could be felt firsthand at the Korean Pavilion installed at the Frankfurt Book Fair held last October. Consultati...
  • VOL.67 / 2024.02
[TREND / TOPIC]

Korean Picture Books Today

Topic   Korean Picture Books Today Closing the 2023 Korea Picture Book Award   2024.01.02   In November 2023, the winners of the first Korea Picture Book Award, organized by the Ministry of Culture, Sports, and Tourism and the Publication Industry Promotion Agency of Korea (KPIPA), were announced. Eight titles and publishers were honored in the grand prize, special prize, and rookie prize categories for fiction and nonfiction. Considering the size of the prize and the diverse range of winning titles, it was a good start for a new award system. The “picture book” genre is not yet fully established in the Korean publishing industry. For example, in large bookstores, “picture books” are placed in a subcategory of the pre-school category. However, the fact that we were able to clearly recognize “picture books” as a single artistic genre and reach a consensus in the screening process to organize an “award for picture books” is thanks to the strong...
  • VOL.66 / 2024.01
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