Animation startups in Korea are on the rise. Many of these startups have gotten a lot of attention from animation studios to animation production due to the rise of the latest tech trend, “The Metaverse.” It has given rise to demand from companies not just in Korea but all around the world for creating virtual worlds. As Korean culture continues to grow globally, more and more animation startups are being founded. South Korea is home to many great engineering and creation schools that produce amazing 3D designers and animators. The demand for animation is not just in The Metaverse but also for gaming, digital content, and entertainment.
While there is great potential for the Metaverse in Korea, many animation startups are also looking into other industries as more companies move into the web3 space. Below are some of the top animation startups in Korea to watch out for.
Animation Startups in Korea
Macovill
Content publishing startup in Korea Macovill is an entertainment content company. They create content such as animation, games, comics, and characters. Macovill is the creator of the successful comic sitcom Project Chitabu. They have gotten $2.6 million in funding through their Series A raise from Kona Venture Partners and Mirae Asset Venture Investment. The startup will use the funds to hire talent and speed up its development.
plask
Plask is an AI-driven animation startup in Korea that offers its cloud-based animation technology to customers around the world. Their solution is called PLASK, and it is an automated web solution that automates the animation process for character movement. Therefore, it makes it easier for creators to produce great animation at a lower cost. By using AI technology to animate the movement of characters. They have done beta tests with animation production companies, game developers, and entertainment studios. In 2021, they raised $2.5 million for their pre-series A funding round led by Smilegate Investment.
Studio Origin
Studio Origin specializes in developing character brands and contents and overall character intellectual property (IP). They focus on not just the Korean market but also create characters to target overseas markets. They are currently creating their own character IP portfolio and working on character projects with many large business groups to develop character merchandise and set up pop-up stores. Their IP business will fully launch in 2023. Furthermore, Studio Origin has raised over $4.4 million for their Series A round from VC firms Korea Investment Partners and Mirae Asset Venture Investment.
YOU NEED CHARACTER
YOU NEED CHARACTER, an animation production company that was the first Korean company to enter the Indian TV animation market. Their TV animation Cricket Pang was aired on local TV and OTT channels in India last year. As cricket is India’s national sport, the animation has been a huge success. Moreover, they are now preparing various character products to develop additional business with Cricket Pang. Their YouTube channel has over 290,000 subscribers to date.
SANDBOX
SANDBOX is a multi-channel network. It manages over 450 digital content creator teams. Altogether, these creator teams have gotten over 200 million subscribers and generated over 72 billion views. Sandbox Network is a comprehensive service provider that offers its creatives personalized assistance in terms of marketing and content creation. They have their own studio, which acts as a digital playground for creators to network and create content. In addition, they have gotten over $40 million in funding, and one of their investors is Nexon, Korea’s leading game developer.
