Kenaz

What Kenaz does

Kenaz Co., Ltd. is a South Korean webtoon IP holder and production studio founded in 2018. The company produces original webtoon content at scale (approximately 50 new works per week as of 2021) and retains rights to all IPs it creates, positioning itself as an independent alternative to big-tech platform IP holders. Its content is distributed across more than 100 platforms in over 30 countries via Managed Content Provider (MCP) agreements, including exclusive supply arrangements with Apple Books' Tateyomi Manga section and a 2-year, 7,500-episode supply contract with Amazon. The company serves two primary customer segments: (1) global digital content platforms (KakaoPage, Naver Webtoon, Apple Books, Amazon, Tencent, Piccoma, Bilibili, and regional players) that license its IP to attract and retain users, and (2) webtoon creators and aspirants, supported through its Webtoon Academy and the KIPhub creator service platform (launched in beta in 2024–2025) which has trained more than 2,000 creators.

Revenue is generated through a multi-stream model: licensing and royalty income from original webtoon IP and OSMU (One Source Multi Use) extensions (drama/film adaptations, game IP, animation, publishing, merchandise); platform distribution fees; joint-production economics with partners such as Tencent, NTT Docomo, and Com2uS (prior to JV dissolution); and professional services revenue from academy programs, some of which are underwritten by government contracts (Ministry of Science and ICT, NIPA, Seoul Metropolitan Government, Jeonnam regional agencies). Go-to-market is B2B and partnership-driven rather than direct-to-consumer: a Chinese branch (est. 2019) handles localization, while joint ventures (Jungle Studio with Com2uS, dissolved 2023; Ono Korea with France's MPP Group, 2024; Americas JV with writer Song Jae-jung) support market-specific production. The company is pursuing an AI-production roadmap via an MOU with Toonsquare (October 2023) and a pre-Series A investment in OnomaAI (developer of the AI production engine 'Toon'). In April 2025 Kenaz relocated its headquarters from Seoul (Yeoksam) to Suncheon, Jeollanam-do, as part of a regional webtoon/animation cluster initiative.

Name

Kenaz

Legal name

주식회사 케나즈

Website

https://kenaz-re.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

Kenaz is a South Korean independent webtoon IP holder and production studio that produces original webtoon content and distributes it across 100+ platforms in 30+ countries via platform partnerships and exclusive deals with Apple Books, Amazon, and Naver Webtoon.

Ownership category

akta.pro rank

Product category

Webtoon Production and IP Licensing

NAICS

Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) (5331), Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (51621)

SIC

Patent Owners & Lessors (6794)

akta.pro primary industry

Webtoon & Digital Comics Publishing Platforms (MPAJAMAK)

akta.pro secondary industries

Multi-Channel Networks (MCNs) & Creator Management Platforms (MPACABAH), Contracting, Licensing & Rights Management (Music/Performance Releases) (HSACAHAM)

Keywords

• Webtoon production services
• Original IP licensing
• Global content distribution
• Creator development programs
• Secondary IP adaptation

Headquarters

HQ city

Jeju

HQ country

South Korea

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Content Production and Licensing: Kenaz produces original webtoon IPs and licenses content to global platforms. The company retains rights to all IPs they produce, positioning them as an alternative to big tech IP holders.
2. Platform Distribution: Distribution of webtoon content across 100+ platforms in 30+ countries through MCP (Managed Content Provider) agreements
3. Secondary IP Business: OSMU (One Source Multi Use) expansion including drama/film adaptations, game licensing, animation production, publishing, and merchandise (MD/Goods)
4. Academy and Education Services: Webtoon Academy training programs for creator development, including partnerships with governments and international institutions for talent cultivation

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Kenaz is a South Korean webtoon production studio that creates original webtoon and web novel IP, retains full rights to all produced content, and licenses/distributes that IP to global digital platforms (KakaoPage, Naver Webtoon, Apple Books, Amazon, Tencent, Piccoma, and 100+ others across 30+ countries) via its MCP model. It also expands IPs into secondary formats (drama, film, animation, game licensing, publishing, merchandise) under a One Source Multi Use (OSMU) strategy, and runs Webtoon Academy and KIPhub for creator training and development.

Product overview

Kenaz is a South Korean webtoon IP holder and production company that operates as an integrated webtoon ecosystem spanning content production, international distribution, and creator development. The core offering is webtoon production (original IP creation), supported by the KIPhub creator platform and Webtoon Academy training program. Distribution is handled through a global pipeline covering 30+ countries and 100+ platforms. The company also expands IPs into secondary businesses including drama adaptations (like 스피릿 핑거스 and 밥만 잘 사해주는 이상한 이사님), merchandise, and international co-productions. Notable products include 장미와 샴페인 (Roses and Champagne), 로그인 무림 (Login Martial World), and the recent 개미 (The Ants) adaptation of Bernard Werber's novel.

Differentiator

Problem solved

Functional benefit

Brands

• KIPhub: Global webtoon creator service platform for creator development and management
• 스튜디오 순천 (Studio Suncheon)
• 스튜디오 도해
• 오렌지에이전시 (Orange Agency)

Products and services

• Webtoon Production
• KIPhub
• Webtoon Academy
• Global Distribution Network (MCP)
• The Ants (개미) Webtoon
• Crèvecœur (크레브케)
• 검토해보겠습니다 (I Will Review It)
• Short-form Drama Production
• IP Expansion / OSMU (2nd Business)

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core, major and strategic.

• Suncheon CitycoreOthers · 1 June 2024Regional partnership for Suncheon webtoon cluster development, including animation and webtoon industry ecosystem creation with 35 target companies.
• MPP Group (France)coreStrategic or Co-development Partner · 1 April 2024Joint establishment of 'Ono Korea' for Korean-French webtoon collaboration and global webtoon talent cultivation. Partnership for global webtoon industry development.
• AmazonmajorChannel Partner/ Reseller/ Distributor · 1 December 20232-year contract to supply 7,500 webtoon episodes globally, expanding distribution reach to Amazon's international audience.
• Ono AIstrategicTechnology or Integration · 1 November 2023AI-based webtoon production engine 'Toon' developer. Kenaz participated in pre-Series A investment round for AI webtoon production technology.
• Toonsquare (AI)strategicTechnology or Integration · 1 October 2023MOU for AI webtoon production technology development. Collaboration to develop webtoon-specific AI solutions for production efficiency.
• Seoul Metropolitan GovernmentmajorOthers · 1 September 2023Consignment operation of Seoul Webtoon Academy for training aspiring webtoon creators in the Seoul region.
• NTT Docomo (Japan)coreStrategic or Co-development Partner · 1 July 2023Co-production partnership for webtoon content. First joint production with Japan's largest mobile telecommunications company for d-book platform.
• Heavenly (BL Platform)majorStrategic or Co-development Partner · 1 September 2022Strategic investment partnership. Kenaz joined Almond Company and Moving Picture Company in investing in the global BL content platform.
• Naver WebtooncoreChannel Partner/ Reseller/ Distributor · 1 September 2021Global content priority supply agreement. Kenaz provides original content for exclusive and non-exclusive distribution on Naver Webtoon platform.
• Com2uScoreStrategic or Co-development Partner · 1 May 2021Joint venture 'Jungle Studio' established for webtoon/web novel content development. Game company Com2uS partnered with Kenaz to produce Summoners War IP-based content.
• Tencent (China)coreStrategic or Co-development Partner · 1 February 2018Joint production contract for 'Odd Eye' webtoon in 2018. First major international co-production partnership that established Kenaz's global expansion strategy.

Scale indicators5 records

Recent moves8 records

Expansion highlights7 records

Broad incumbents

• WEBTOON Entertainment (Naver Webtoon): Operator of the global WEBTOON platform and a major webtoon IP producer/publisher. Most directly comparable as a webtoon-focused IP and distribution business, but vastly larger and vertically integrated with platform monetization.
• Kakao Entertainment: Operates KakaoPage and KakaoWebtoon, Korea's largest webtoon platforms and a primary distribution channel for Kenaz. Comparable as a webtoon IP producer and licensor, but part of the broader Kakao media ecosystem with platform-plus-IP integration.
• Webnovel / Yuewen Group (Tencent): Tencent-owned web novel and webtoon platform with extensive IP library and adaptation pipeline. Comparable as a major IP holder and Kenaz's joint production partner (e.g., 'Odd Eye'), but operates at much larger scale across China and globally.

Direct peers

• Lezhin Entertainment: Korean-origin webtoon platform with creator-pays and licensing models. Direct competitor in the production and distribution of Korean webtoon IP, including in BL/romance segments where Kenaz is also active.
• Tappytoon (Contents First): English-language webtoon platform distributing licensed Korean IP globally. Comparable to Kenaz's English-market distribution ambitions and overlapping IP supplier relationships with Korean studios.
• Comico (NHN Japan): Japanese webtoon app with original IP production and a key platform partner for Kenaz in Japan and Thailand. Directly comparable as a producer-distributor hybrid in the webtoon space.
• DELITOON (Delitoon Corp.): European-focused webtoon platform with Korean IP licensing and original production. Comparable as a competitor pursuing the European webtoon market, which is one of Kenaz's stated expansion territories.
• Tapas Media: English-language webtoon and web novel platform with original IP development and creator monetization. Comparable as a webcomic/webtoon IP holder pursuing global English-speaking markets.

Regional players

• Piccoma (Kakao Japan): Leading Japanese webtoon/manga app operated by Kakao. Comparable as a Japan-focused distribution and IP licensing counterpart for Korean webtoon content, including Kenaz's Japanese titles.

Emerging players

• Toonsquare / OnomaAI: AI-native webtoon production startup that Kenaz has invested in and partnered with (Toon engine). Comparable as a technology-driven webtoon production peer, with overlapping ambitions on AI-assisted production efficiency.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/KENAZ_official
• Facebookfacebook.com/KenazComics

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries8 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments2 records

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

Frequently asked questions about Kenaz