SEOUL -- Kakao and Naver, South Korea's two internet titans, are competing for the top spot in the global market for web comics.
Naver will acquire a web comic company in Canada, and Kakao will buy two in the U.S. The driving force behind their growth is the webtoon format of comics in vertical strips optimized for smartphones. South Korean companies are gaining momentum in the entertainment market, such as music and movies, and are becoming a particularly potent force in web comics.
