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Pioneering the domestic e-book marketДЄfter establishing RIDI in 2008, Bae was a bit anxious to stake a strong claim in the content market because Apple had just introduced the iPhone to the world and he had a strong hunch it was the dawning of a new mobile era.

вЂњThis is only the beginning of RIDIвЂ™s growth story,вЂќ said Bae.

In 2020, while kicking off its global expansion plans, RIDI also forayed into the webtoon market. From the very beginning, Bae had envisioned building a global content company backed by a rich intellectual property portfolio of content, rather than an e-book company.ДЄnd web novels only marked the beginning of BaeвЂ™s plan to expand the IP business. But it was the expected course of events for Bae Ki-sik, the founder and chief executive of RIDI. Industry watchers were floored by RIDIвЂ™s transformation. In the first half of 2018, RIDIвЂ™s numbers of new subscribers jumped by 195% compared to the year-earlier period. The company also adopted a mobile-exclusive format and structured web novel plots that moved at a faster pace, which were a huge hit. Instead of releasing the original content as complete e-books, RIDI opted for an episode format: a new episode would be uploaded every week. RIDI created original web novels in collaboration with authors who had already worked with the company. In 2018, after enjoying a decade of great success as an e-book platform, RIDI introduced a new service on its platform вЂ“ web novels. 1 position even as competitors entered the segment. Founded in 2008, the company pioneered the countryвЂ™s e-book market, holding the No. Right now it doesnвЂ™t have enough compared to Netflix and Disney Plus, so these will be a key element in Apple growing a user base in Korea,вЂќ Yves Gueron, professor of economics at Seoul National University told local media.Encompassing e-books, web novels, webtoons and more

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вЂњPartnerships could be really important because Apple TV needs content. Analysts are speculating that in order to play catch up, Apple will seek partnerships with telcos or some of the local streaming operators, such as Wavve or Watcha. вЂњDoctor BrainвЂќ and вЂњPachinkoвЂќ notwithstanding, AppleвЂ™s lack of local content is considered a weakness. In a public address earlier in the day, NetflixвЂ™s Asia VP of public policy, Dean Garfield said that Korea is possibly the most competitive streaming market in the world. KoreaвЂ™s SVOD market is currently headed by Netflix ahead of local platforms Wavve and TVing.

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Disney Plus will launch in Korea next week. But it is priced at a deliberately affordable KRW6,500 (US$5.50) per month, reflecting the tech giantвЂ™s late entry into a streaming market that is already tight and set to get tighter. The Korean launch is one of the first in Asia for Apple TV. A star-studded cast includes Lee Min Ho (вЂњThe King: Eternal MonarchвЂќ) and Oscar-winning Youn Yuh-jung (вЂњMinariвЂќ).

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American sci-fi and thriller genres flank the Apple TV Plus launch with вЂњFoundation,вЂќ вЂњFor All MankindвЂќ and вЂњServant.вЂќДЄlso in the pipeline is вЂњPachinko,вЂќ a TV series adaptation of Lee Min JinвЂ™s acclaimed historical novel depicting the heart-wrenching story of a Korean familyвЂ™s immigration to Japan, with poverty, racism and family loyalty as its central themes. The new service will provide Korean viewers notable originals such as American award-winning comedy drama series, вЂњTed LassoвЂќ and Jay CarsonвЂ™s вЂњThe Morning ShowвЂќ with Jennifer Aniston and Reese Witherspoon.

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Brain.вЂќ The sci-fi thriller series is based on a Korean webtoon of the same title and is directed by Kim Ji-woon (вЂњI Saw The DevilвЂќ and вЂњA Bittersweet LifeвЂќ), one of the countryвЂ™s most preeminent movie makers. Apple TV Plus launched in South Korea on Thursday with the premiere of its first original K-drama series, вЂњ Dr.