WEBTOON Marvel Comics app set for November 16 launch
The amended agreement sets 12- and 24-month salary severance and related incentive, COBRA and equity terms for defined termination events.
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Form Type
8-K
Rhea-AI Filing Summary
WEBTOON Entertainment Inc. (WBTN) approved relocation arrangements for CEO and Chairman Junkoo Kim in connection with his move of primary residence from Korea to the United States for business operational purposes; his roles and responsibilities remain unchanged. Upon termination of his employment with subsidiary NAVER WEBTOON Ltd., he is entitled to KRW 249,648,080 (approximately $184,175), less withholdings, payable in October 2026. A one-time $567,009 relocation benefit, less withholdings, is payable in January 2027, subject to continued employment through payment.
An amended agreement effective October 1, 2026 provides 12 months of base salary and the year’s target incentive as lump sums within 60 days, plus 12 months of COBRA premium reimbursements, for termination without Cause or resignation with Good Reason. For either event within 12 months after a Change in Control, it provides 24 months of salary and twice the target incentive as lump sums within 60 days, 24 months of COBRA reimbursements and full performance-stock-unit vesting at the greater of target or actual performance, or target if actual performance is not reasonably determinable.
The new Marvel Comics app, developed by WEBTOON, is scheduled to launch November 16, 2026, with access to more than 35,000 digital comics. Ultimate subscribers can access new issues as soon as one month after print release.
8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
NAVER WEBTOON severance payment: KRW 249,648,080 (approximately $184,175)
One-time relocation cash benefit: $567,009
Severance for specified terminations: 12 months of base salary and target incentive; 12 months of COBRA premium reimbursements
+4 more
7 metrics
NAVER WEBTOON severance payment
KRW 249,648,080 (approximately $184,175)
Payable in October 2026 upon termination of employment, less applicable withholdings
One-time relocation cash benefit
$567,009
Payable in January 2027, less applicable withholdings and subject to continued employment through payment
Severance for specified terminations
12 months of base salary and target incentive; 12 months of COBRA premium reimbursements
Termination without Cause or resignation with Good Reason
Severance after a Change in Control
24 months of base salary; twice the target incentive; 24 months of COBRA premium reimbursements
Specified termination within 12 months after a Change in Control
Marvel Comics app launch
November 16, 2026
Scheduled launch date
Digital comics library
More than 35,000 digital comics
Marvel Comics app
Subscription pricing
$9.99/month or $69.99/year (Base); $12.49/month or $99.99/year (Ultimate)
Subscription prices, plus tax
Key Terms
Good Reason, Change in Control, COBRA premium reimbursements, Tax Equalization Payment, +2 more
6 terms
Good Reason financial
"resignation with Good Reason"
Change in Control financial
"within the 12-month period following a Change in Control"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
Tax Equalization Payment financial
"the “Tax Equalization Payment”"
Pull List technical
"Pull List surfaces new issues from followed series"
smart panel mode technical
"An enhanced smart panel mode"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What payments does WEBTOON's CEO relocation arrangement provide?
Junkoo Kim is entitled to KRW 249,648,080 (approximately $184,175), less applicable withholdings, after his employment with NAVER WEBTOON Ltd. ends, payable in October 2026. He is also due a one-time $567,009 relocation benefit, less withholdings, in January 2027, subject to continued employment through the payment date.
What severance terms does WBTN's amended CEO agreement provide?
For termination without Cause or resignation with Good Reason, the agreement provides 12 months of base salary and the target incentive for the year of termination as lump sums within 60 days, plus 12 months of COBRA premium reimbursements. For either event within 12 months after a Change in Control, it provides 24 months of base salary, twice the target incentive, 24 months of COBRA premium reimbursements and full performance-stock-unit vesting under stated performance criteria.
How much will the Marvel Comics app cost?
The Base tier costs $9.99 per month or $69.99 per year, plus tax. Ultimate costs $12.49 per month or $99.99 per year, plus tax. A limited-time Ultimate Annual founding-member offer is $59.99 plus tax for the first year; the pre-order is charged at purchase, and the subscription starts when the code is redeemed after launch.
When does the Marvel Comics app launch, and when are new comics available?
The app is scheduled to launch November 16, 2026, with access to more than 35,000 digital comics. Base subscribers get the latest issues as soon as three months after print release; Ultimate subscribers get them as soon as one month after print release.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): | ||
(Exact name of Registrant as Specified in Its Charter)
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of Principal Executive Offices) | (Zip Code) | |||||||
Registrant’s Telephone Number, Including Area Code: ( | ||
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
CEO Relocation Arrangements
On September 30, 2026, the Board of Directors (the “Board”) of WEBTOON Entertainment Inc. (the “Company”) approved relocation-related arrangements for Junkoo Kim, the Company’s Chief Executive Officer (the “CEO”) and Chairman of the Board, in connection with Mr. Kim’s relocation of his primary residence from Korea to the United States for business operational purposes (the “Relocation”). Mr. Kim will continue to serve in his role as the Company’s CEO and Chairman of the Board and the Relocation will not result in any change to Mr. Kim’s roles or responsibilities.
In connection with the Relocation, Mr. Kim’s employment with NAVER WEBTOON Ltd. (“NAVER WEBTOON”), our wholly-owned subsidiary in Korea, will be terminated. Upon termination of his employment with NAVER WEBTOON, Mr. Kim will become entitled to a cash payment of KRW 249,648,080 (equivalent to approximately $184,175), less applicable withholdings, to be made in October 2026, under the NAVER WEBTOON Severance Pay Policy for Executives (and, for the avoidance of doubt, following the Relocation, Mr. Kim will no longer participate in the NAVER WEBTOON Severance Pay Policy for Executives). To facilitate a seamless transition with minimal disruption during the Relocation, Mr. Kim will also receive a one-time relocation cash benefit of $567,009, less applicable withholdings, to be paid in January 2027, subject to Mr. Kim’s continued employment with the Company through the payment date. The Company will reimburse Mr. Kim for the amount, if any, by which the actual income and/or tax liability incurred by Mr. Kim in Korea and/or the United States as a result of the relocation cash benefit described above exceeds the tax liability that would have applied had Mr. Kim not been a tax resident in both the U.S. and Korea (the “Tax Equalization Payment”). The amount of the Tax Equalization Payment, if any, is not yet determinable, and will be calculated and paid in accordance with the Company's standard payroll and tax equalization practices.
Amendment and Restatement of CEO Employment Agreement
In connection with the Relocation, on October 1, 2026, the Company and Mr. Kim entered into an amended and restated employment agreement, effective as of October 1, 2026 (the “Amended and Restated Employment Agreement”), which amends and restates in its entirety Mr. Kim’s existing employment agreement with the Company, dated November 5, 2024 (the “Existing Employment Agreement”).
The Amended and Restated Employment Agreement reflects Mr. Kim’s annual base salary and target incentive bonus for fiscal year 2026 as previously approved by the Board and includes the following changes to the Existing Employment Agreement: (1) adjusts severance benefits upon termination without Cause or resignation with Good Reason (as such terms are defined in the Amended and Restated Employment Agreement) to (a) increase the cash severance from six (6) months of base salary paid as salary continuation under the Company’s regular payroll practices to a lump sum payment equal to twelve (12) months of base salary payable within 60 days of the termination date, (b) add a lump-sum payment equal to the target incentive opportunity for the year of termination, payable within 60 days of the termination date, and (c) increase the COBRA premium reimbursements from six (6) months to twelve (12) months; (2) adjusts severance benefits upon termination without Cause or resignation with Good Reason within the 12-month period following a Change in Control (as such terms are defined in the Amended and Restated Employment Agreement) to (a) increase the cash severance from twelve (12) months of base salary paid as salary continuation under the Company’s regular payroll practices to a lump sum payment equal to twenty-four (24) months of base salary payable within 60 days of the termination date, (b) replace the prior pro-rated target incentive opportunity payment with a lump sum payment equal to two (2) times the target incentive opportunity for the year of termination, payable within 60 days of the termination date, (c) increase the COBRA premium reimbursements from twelve (12) months to twenty-four (24) months, and (d) add full equity vesting acceleration of performance stock units, with the number of shares vesting determined based on the greater of (i) target performance level and (ii) actual performance level as determined by the Company’s Compensation Committee (or target performance, if actual performance is not then reasonably determinable); (3) adds a director and officer liability insurance and indemnification provision entitling Mr. Kim to the same indemnification and director and officer liability insurance coverage the Company provides its other corporate officers; and (4) adds a mutual non-disparagement provision applicable to both Mr. Kim and the Company. Except as described above, the Amended and Restated Employment Agreement is generally consistent with the Existing Employment Agreement.
The foregoing description of the Amended and Restated Employment Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amended and Restated Employment Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K.
Item 7.01 Regulation FD Disclosure.
On October 5, 2026, the Company issued a press release announcing that the Company plans to preview the upcoming Marvel Comics app at New York Comic Con. A copy of the press release is furnished hereto as Exhibit 99.1 and incorporated herein by reference.
The information furnished pursuant to Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d)The following exhibits are being filed herewith:
| Exhibit No. | Description | |||||||
| 10.1 | Amended and Restated Employment Agreement between the Company and Junkoo Kim dated October 1, 2026 | |||||||
| 99.1 | Press release dated October 5, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WEBTOON Entertainment Inc. | |||||||||||
| Date: | October 5, 2026 | By: | /s/ David J. Lee | ||||||||
| Name: | David J. Lee | ||||||||||
| Title: | Chief Financial Officer | ||||||||||
Exhibit 99.1
WEBTOON and Marvel to Unveil the New Marvel Comics App at New York Comic Con
Launching November 16, All-New App to Feature More Than 35,000 Digital Comics, Personalized Discovery Tools, Pull List Features and New Issues as Early as 1 Month After Print Release
Limited-Time Founding Member Pricing Available Online Now and at the Marvel Comics App Booth at New York Comic Con
LOS ANGELES (OCTOBER 5, 2026) – Comic book fans will soon have a new way to discover, read, and follow the stories they love: the new Marvel Comics app. Attendees at New York Comic Con this week will be the first to preview the new app in a booth experience on the show floor (Booth #2435). Officially launching November 16, the new Marvel Comics app will make it easier than ever for fans to find and read the stories they love with a single convenient subscription.
The Marvel Comics app will give fans access to a deep and growing library of current and classic comics from Marvel, Star Wars, and 20th Century Studios, and will continue growing with more features and stories from across Disney's portfolio. Developed from the ground up by WEBTOON Entertainment for mobile and web, the app is designed to make comic discovery faster, reading more flexible, and ongoing series easier to follow. The Marvel Comics app will include archived comics, current comic book runs, and will support both traditional page-based comics and vertical-scroll formats.
“We know that there is a large audience of readers who are looking to experience comics digitally, and there is no richer library than Marvel Comics,” said David Abdo, General Manager, Marvel Comics and Franchise. “We’re excited to partner with WEBTOON, industry leaders in the space, to create a new app that can continue to grow and evolve with the way readers discover and experience comics.”
Fans can explore what catches their eye through a dynamic cover-scroll interface that makes thousands of comics browsable at a glance, or turn to personalized recommendations tailored to their reading history and interests. Character and creator pages let fans follow journeys across arcs and storylines, and Pull List surfaces new issues from followed series, characters, and creators the moment they're available. Fans can also browse upcoming releases to see what's coming soon and add titles to their Pull List in advance. An enhanced smart panel mode, which zooms in on individual panels, makes every issue easier to follow on mobile devices.
"The Marvel Comics app represents a new chapter in helping fans connect with the stories they love," said Yongsoo Kim, President of WEBTOON Entertainment. "By combining WEBTOON's expertise in building digital comics platforms with Marvel’s unparalleled storytelling legacy, we're making it easier for longtime fans and new readers alike to explore Marvel’s universe and discover their next favorite story."
The Marvel Comics app will offer two subscription tiers. The Base tier is $9.99/month (plus tax) or $69.99/year (plus tax) and provides access to the full Marvel Comics digital library, with the latest issues available as soon as 3 months after their print release. For fans who want the latest issues sooner, the Ultimate tier gives access to new comics as soon as 1 month after their print release in addition to the full library. Ultimate will be available for $12.49/month (plus tax) or $99.99/year (plus tax).
Fans can pre-register now at https://marvel.webtoon.com and claim a limited-time founding member price of $59.99 (plus tax) for their first year of Ultimate Annual.
Pre-order: $59.99 + tax for year one, charged today. Subscription starts when you redeem your code after service launch, then auto-renews at $99.99 + tax/year until canceled. 18+. Subject to the Founders Offer Terms of Use.
The Marvel Comics App at New York Comic Con
The Marvel Comics app will make its New York Comic Con debut October 8–11 at booth (#2435), where fans can get an early look at the beta version of the app, learn more about the upcoming service, and pre-register ahead of the app’s launch on November 16, 2026.
NYCC attendees will also have the opportunity to claim the limited-time founding member price on-site. The first 2,000 fans to claim the offer will receive a limited-edition Marvel Comics print ID card, available exclusively at NYCC.
Founding Member ID Card available at booth #2435 while supplies last; limit one per person. Card designs are subject to availability and may vary.
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About Marvel
Marvel is one of the world’s most prominent entertainment brands, built on an unparalleled library of iconic characters and stories that have shaped pop culture for over 85 years. The
Marvel brand spans entertainment, including film, television, publishing, licensing, games, live events, digital media, and more.
For more information, visit marvel.com. © 2026 MARVEL
About WEBTOON Entertainment
WEBTOON Entertainment is a leading global entertainment company and home to some of the world's largest storytelling platforms. As the global leader and pioneer of the mobile webcomic format, WEBTOON Entertainment has transformed comics and visual storytelling for fans and creators.
With its CANVAS UGC platform empowering anyone to become a creator, and a growing roster of superstar WEBTOON Originals creators and series, WEBTOON Entertainment’s passionate fandoms are the new face of pop culture. WEBTOON Entertainment adaptations are available on Netflix, Prime Video, Crunchyroll, and other screens around the world, and the company’s content partners have included Warner Bros. Animation, Discord, HYBE, and Duolingo, among many others.
With approximately 155 million monthly active users, WEBTOON Entertainment’s IP & Creator Ecosystem of aligned brands and platforms include WEBTOON, Wattpad--the world’s leading webnovel platform--WEBTOON Productions, Studio N, Studio LICO, WEBTOON Unscrolled, LINE MANGA, and eBookJapan, among others.