What Copin Communications does

Copin Communications, now operating under the legal name Terapin Inc. (주식회사 테라핀) following a July 2022 corporate rebrand, is a Seoul-based digital content company that produces and distributes webtoons and web novels in the Korean market and selectively internationally. The company runs two core product lines: a webtoon (웹툰) production service that adapts original novel IP into serialized comics using an in-house production pipeline spanning script writing to editing, with a stated specialization in the fantasy genre; and a web fiction (웹소설) publishing service that has released 663 works since 2018 across fantasy, romance, romance fantasy, and BL. The "Copin" name continues as the consumer-facing content label under the Terapin corporate entity. Distribution is executed through channel partnerships rather than direct subscription: webtoons are placed on major Korean platforms including KakaoPage, Bomtoon, Justoon, Toptoon, and Cheong Eo Ram, and web novels are published through multiple domestic partners (Easy Contents, Delfy New, Ferroche, Crocus, Tuberose, Ilrang, Dellnight), with a dedicated webtoon showcase site (copinwebtoon.com) for direct audience access.

The company is privately held, headquartered in Gangnam-gu, Seoul, and reports a workforce of 251-500 employees. Revenue is generated through licensing and royalty arrangements with its platform and publishing partners; no direct-to-consumer pricing is publicly disclosed. Capital structure is dominated by a series of NPX Capital-backed rounds, including a US$43 million investment in January 2022 and a further 50.4 billion KRW (~$42 million) commitment in January 2023, alongside earlier syndicated rounds from 2019-2021 featuring Daekyo Investment, Hyundai Investment Partners, KB Investment, Shinhan Capital, STIC Ventures, Welcome Capital, and WONIK Investment Partners. The 2023 capital raise is explicitly designated to support geographic expansion into Europe, Japan, South America, and Southeast Asia, and to fund diversification into new content areas. A July 2022 acquisition of iWill Media extends the company's footprint beyond content production into adjacent media assets.

Name

Copin Communications

Legal name

주식회사 테라핀

Website

https://copin.co.kr

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Webtoon and Web Novel Digital Content

NAICS

Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (5162), Music Publishers (512230)

SIC

Magnetic & Optical Recording Media (3695)

akta.pro primary industry

Audiobook Technology & Services (Hosting/CDN, DRM, Analytics, Ad Insertion) (MPAJAIAI)

Keywords

• Webtoon production
• Web novel publishing
• Digital content creation
• Novel-to-webtoon adaptation
• Korean digital comics

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Digital Commerce or Content

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Web Novel Publishing: Publishing web novels across all genres including fantasy, romance, romance fantasy, and BL. The company has published 663 works since 2018.
2. Webtoon Production and Distribution: Producing quality webtoons based on original novels, leveraging synergy between novels and webtoons, with distribution through domestic and overseas platforms.

Go-to-market motion1 record

Distribution channels13 records

Marketing channels3 records

Core offering

Copin Communications (Terapin Inc.) produces webtoon content adapted from its original web novel IPs, using an internal production system that covers script writing through editing across fantasy, romance fantasy, romance, and BL genres. The company also publishes web novels directly, having released 663 works since 2018, and distributes both formats through major Korean platforms and its own webtoon homepage.

Product overview

Terapin Inc. (d.b.a. Copin), formerly Copin Communications Co., Ltd., is a South Korea-based digital content company producing both webtoons and web novels. The company operates two core product lines: 웹툰 (Webtoon), a quality webtoon production service that adapts novel IPs into comics using an internal production system with a specialty in fantasy genres; and 웹소설 (Web Fiction), a web novel publishing service covering all genres (fantasy, romance, romance fantasy, BL) with 663 published works since 2018. These two product lines are designed to create synergy by sharing IP across both formats. Works are distributed through major domestic platforms (Kakao Page, BomToon, Justoon, TopToon, CheongEoRam, etc.) for webtoons and through partners (Easy Contents, Delfinew, Ferroche, Crocus, Tuberosa, Ilrang, Delnight, etc.) for web novels. Copin functions as the content label brand under the Terapin corporate entity.

Differentiator

Problem solved

Functional benefit

Products and services

• Webtoon (웹툰) Webtoon production and publishing service that produces original novel-based webtoons using an internal production system covering script writing to editing, with a specialization in fantasy and romance-fantasy genres. Distributed through major Korean platforms including Kakao Page, BomToon, Justoon, TopToon, and Cheong Eo Ram.
• Web Fiction / Web Novel (웹소설) Web novel publishing service covering all genres including fantasy, romance, romance fantasy, and BL. Terapin has published 663 works since 2018, distributed through web novel publishing partners (Easy Contents, Delfy New, Ferroche, Crocus, Tuberose, Ilrang, Dellnight).
• Copin Webtoon Homepage Company-operated web platform at copinwebtoon.com that showcases Terapin's webtoon productions and serves as a direct audience engagement channel, complementing distribution through major Korean platforms including Kakao Page, BomToon, Justoon, TopToon, Cheong Eo Ram, and the Comic Story Writers Association.

Quantifiable outcome

• 663 web novel works published since 2018

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Tappytoon: Lezhin-owned English-language webtoon and web novel platform with global reach. Comparable to Copin's overseas expansion ambitions and serialized fantasy/romance IP focus.
• Munpia: Korea's largest web novel self-publishing platform with editorial studio operations. Comparable to Copin's web novel publishing business and genre coverage including fantasy and BL.
• Toomics: Korean webtoon platform and studio with global distribution in multiple languages. Comparable to Copin on multi-platform publishing, genre diversity, and licensed royalty model.
• Naver Webtoon: Operates the world's largest webtoon platform and produces original webtoon IP through subsidiary studios. Direct competitor to Copin's webtoon production and licensing model, with comparable IP-driven monetization across multiple genres.
• Kakao Entertainment: Vertically integrated Korean digital content company producing webtoons, web novels, and music, distributed via KakaoPage. Direct competitor and one of Copin's largest distribution partners.
• Lezhin Entertainment: Korean premium webtoon platform and studio producing original serialized content. Directly comparable on webtoon production, multi-platform distribution, and royalty-based monetization.
• Ridibooks (RIDI): Korea's leading web novel and e-book platform with in-house content production. Comparable to Copin on web novel publishing, genre breadth (fantasy, romance, BL), and digital-first distribution.
• Kross Pictures: Korean webtoon and web novel studio producing content across multiple genres for major platforms. Comparable size, business model, and channel-partner distribution strategy to Copin.

Regional players

• Piccoma: Japan-leading webtoon/web novel platform (Kakao Entertainment Japan). Relevant regional incumbent Copin will face as it expands into the Japanese market per its 2023 NPX-backed international strategy.

Broad incumbents

• Webtoon Entertainment: U.S.-listed parent of Naver Webtoon with global platform footprint. Comparable as the broad incumbent in webtoons with cross-format IP monetization (webtoon, drama, film) that Copin is also pursuing.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/terapinstudios

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds5 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Copin Communications