Naver Webtoon Boycott Spreads Amidst Misogyny Controversy

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Recently, Naver Webtoon has been embroiled in controversy for its alleged tolerance of misogynistic content, leading to an intensifying boycott. While Naver Webtoon issued an apology, the backlash from readers hasn't subsided. Posts showing account cancellations and refund confirmations for purchased "cookies" (digital currency) are spreading across online communities, resulting in a significant decrease in users.

The Origin of the Misogyny Controversy

The controversy began when a work titled “Isegye Pong Pong Nam” (Another World’s Easygoing Husband) passed the first round of judging in Naver Webtoon's contest. This work depicts a man facing financial hardship after divorce who then transmigrates to another world. The term “Pong Pong Nam” is particularly problematic. It’s a misogynistic neologism implying that women exploit men for economic gain. The use of this term in the title caused discomfort among many female readers.

Source: Naver Webtoon's SNS (X) capture

Intensifying Backlash Despite Official Apology

Following the growing controversy, Naver Webtoon issued an apology and removed the problematic marketing content. However, this apology was insufficient to quell the readers' anger. The use of marketing phrases that seemed to mock the boycott further fueled criticism. Naver Webtoon stated, "We sincerely apologize to everyone who felt uncomfortable due to this incident," and promised to prevent recurrence. However, the effects of the boycott continue.

Decreasing Number of Naver Webtoon Users

Naver Webtoon's daily active users (DAU) have decreased by approximately 10%since the boycott began. Posts confirming cookie refunds are further accelerating user exodus. Naver Webtoon has stated that they will consider reader reactions in the second round of judging for future contests, but how they will address public opinion remains to be seen.

Stock Price Decline After NASDAQ Listing

Another noteworthy point alongside this controversy is Naver Webtoon's stock price. Naver Webtoon listed on the NASDAQ at $22.83 on June 28, 2024, but its recent stock price has fallen to $11.28. This represents a drop of approximately 50%since its listing, highlighting the significant impact of the platform's internal controversies on its corporate image and stock price.

The Future of Naver Webtoon

This incident demonstrates that Naver Webtoon is not merely a content platform, but also bears significant responsibility towards both its readers and creators. The need to find a balance between freedom of expression and social responsibility is apparent.