The shares are listed on the Nasdaq Global Select Market

Davis Polk advised the representatives of the several underwriters in connection with the initial public offering of 15,000,000 shares of common stock of WEBTOON Entertainment, Inc. The underwriters have a 30-day option to purchase up to an additional 2,250,000 shares. The common stock is listed on the Nasdaq Global Select Market under the ticker symbol “WBTN.”

WEBTOON is a global storytelling platform where a vibrant community of creators and users discover, create and share new content. As the global leader and pioneer of the mobile webcomic format, WEBTOON Entertainment has transformed comics and visual storytelling for fans and creators. WEBTOON is based in California and is a subsidiary of NAVER Corporation.

The Davis Polk corporate team included partners Michael Kaplan and Dan Gibbons, counsel Judah Bareli and associates Joyce Kim, Wenyi Xu and Matthew L. Hulse. Partner Matthew J. Bacal and associate Brette L. Trost provided intellectual property advice. The tax team included counsel Alon Gurfinkel. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and London offices.

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