It was announced that South Korea’s government has plans to introduce a tax credit for the production of webtoons. The tax credit aims to cover anywhere from 10% to 15% of the production costs.
The plan was unveiled on July 31 as part of the Ministry of Economic and Finance’s 2025 tax reform. South Korea considers webtoons as one of its most successful content sectors internationally and sees this credit as a way to support this growing industry.
Both webtoons and digital comics will be eligible. The official name of the tax credit plan is the Promotion of Comics Act. The caveat is that these comics must be distributed online to qualify. Under the tax credit, it was detailed that it would apply to the following production areas:
- Labor Costs
- Licensing Fees for source novels
- Software for webtoon creation
Marketing and promotional costs are excluded. The goal is to offer 10% to larger companies and 15% to small businesses. The credits will be distributed to comics within a fiscal year. The credit program is slated to last through 2028.
Source: AnimeNewsNetwork
