Naver Ventures, the U.S. investment arm of NAVER—the parent company behind WEBTOON Entertainment—has announced a strategic investment in the 10-time Emmy-winning animation house Baobab Studios. Known for their work on projects like Namoo and Crow: The Legend, Baobab is now set to collaborate with the webcomic giant on a new fantasy property currently titled SHINE.
SHINE is a futuristic fantasy set in a version of Korea where the boundary between the human and spirit realms has collapsed. The narrative centers on a half-human protagonist tasked with restoring balance to the world. The project is being developed as a webcomic for the WEBTOON platform, with a simultaneous print release planned through Macmillan Publishers' First Second Books imprint.
The creative team behind the project includes Oscar-nominated filmmaker Erick Oh and webtoon creator Madeleine Rosca. While the webcomic and graphic novel are the immediate focus, Baobab Studios has confirmed it will retain the rights to adapt the property into film, television, and gaming formats, signaling a long-term transmedia strategy for the IP.
Why it matters: This investment marks a deeper integration between traditional animation studios and the digital webcomic market. While the specific financial terms remain undisclosed, the move suggests a push by Naver to accelerate the development of original intellectual property that can bridge the gap between serialized mobile comics and larger-scale media adaptations.
