Form 8-K/A
8-K/A — WEBTOON Entertainment Inc.
Accession: 0001997859-26-000039
Filed: 2026-03-30
Period: 2026-03-02
CIK: 0001997859
SIC: 2741 (MISCELLANEOUS PUBLISHING)
Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
Item: Financial Statements and Exhibits
Documents
8-K/A — wbtn-20260302.htm (Primary)
EX-10.1 (a_aex101xamendedltassignme.htm)
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8-K/A
8-K/A (Primary)
Filename: wbtn-20260302.htm · Sequence: 1
wbtn-20260302
0001997859true00019978592026-03-022026-03-02
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 02, 2026
WEBTOON Entertainment Inc.
(Exact name of Registrant as Specified in Its Charter)
Delaware 001-42144 81-3830533
(State or Other Jurisdiction
of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
5700 Wilshire Blvd.
Suite 220
Los Angeles, California
90036
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, Including Area Code: (323) 424-3795
(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:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading
Symbol(s) Name of each exchange on which registered
Common stock, par value $0.0001 per share WBTN Nasdaq Global Select Market
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.
On March 5, 2026, WEBTOON Entertainment Inc. (the “Company”) filed a Current Report on Form 8-K (the “Initial Report”) with the Securities and Exchange Commission to report, among other things, the appointment of Yongsoo Kim as the President of the Company.
The Company is filing this Current Report on Form 8-K/A (this “Amendment”) to amend the Initial Report to disclose certain compensation information related to Mr. Kim’s appointment that was not determinable at the time of the filing of the Initial Report. Except as expressly set forth herein, this Amendment does not amend the Initial Report in any way and does not modify or update any other disclosures contained in the Initial Report. This Amendment supplements the Initial Report and should be read in conjunction with the Initial Report.
Mr. Kim entered into an amended long-term assignment letter with the Company, dated March 26, 2026, effective as of March 2, 2026, a copy of which is filed as Exhibit 10.1 to this Amendment.
In connection with his appointment as the President of the Company, on March 26, 2026, the Board of Directors (the “Board”) approved the following compensation arrangements for Mr. Kim: (i) his annual base salary will be KRW 711,110,000 (equivalent to approximately $500,000), (ii) his short-term incentive opportunity will be $500,000, and (iii) his long-term equity incentive opportunity will be $750,000 of restricted stock units and $750,000 of performance stock units.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number
Description
10.1
Amended Long-Term Assignment Letter between the Company and Yongsoo Kim dated March 26, 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: March 30, 2026 By: /s/ David J. Lee
Name: David J. Lee
Title: Chief Financial Officer and Chief Operating Officer
EX-10.1
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Document
WEBTOON Entertainment Inc.
5700 Wilshire Boulevard, Suite 220
Los Angeles, CA 90036
To: Yongsoo Kim
Re: Long-term assignment
Dear Yongsoo Kim:
I am pleased to confirm our offer to you an amended long-term assignment from NAVER WEBTOON Ltd. (“NAVER WEBTOON”) to WEBTOON Entertainment Inc. (the “Company” or “WEBTOON”) to assume the position of President at WEBTOON. Your start date for this amended long-term assignment shall be March 2, 2026, provided that, this assignment is conditional on you continuing to hold appropriate approvals to work in the US.
1. Remuneration
1.1. During your assignment, your annual base salary for this position shall continue to be the sum set forth in the Business Delegation Agreement between you and NAVER WEBTOON, then in effect (the “Business Delegation Agreement”). Your total base salary shall be paid to you via US and South Korean payrolls, split in the ratio mutually agreed on a quarterly basis. You will continue to be eligible to receive merit increases according to the home country’s merit guidelines used to determine the timing and percentage of the merit increase.
1.2. During your assignment, you are entitled to cost-of-living allowances in the sum of $13,610 per month (subject to adjustments upon periodic review pursuant to expatriate support policy), as an adjustment to your base salary, taking into consideration the cost of living and family size.
1.3. You will continue to be eligible for the target incentive set forth in the Business Delegation Agreement and its policy. The Company shall make the target incentive payout, if any, in US Dollar currency.
1.4. You shall be entitled to tax equalization so that your tax liabilities for your remuneration hereunder are neither substantially greater nor less than the Korean income tax that you would have paid had you performed all of your duties in Korea, subject to the terms of any tax equalization policy adopted by the Company from time to time. The currency exchange rate to be used in calculating the remuneration hereunder will be mutually agreed and reviewed annually.
2. Salary Related Benefits
1.1.Your benefits shall include the following: you can participate in the US Company Short-Term and Long-Term Disability plans as well as Basic US Life Insurance – on the basis that you will be partly paid via US payroll.
2.2. You will be covered under US company health insurance, including medical, dental and vision insurance, in accordance with our standard US insurance policy. You and your accompanying family members will also be covered under the expatriate insurance program in accordance with our standard expatriate insurance policy.
3. Social Security, Taxes and Payroll Considerations
WEBTOON Entertainment Inc.
5700 Wilshire Boulevard, Suite 220
Los Angeles, CA 90036
3.1. You will be subject to social taxes in both countries on the basis that a split payroll arrangement is in place.
3.2. The Company will directly, or indirectly through NAVER WEBTOON, pay and/or reimburse the remuneration and benefits hereunder, through a split payroll, partly through Company’s (US) payroll and partly paid through NAVER WEBTOON’s (Korea) payroll. It is the Company’s understanding that in order to withhold National Pension Contributions in Korea, at least 10% of salary must be received in Korea.
3.3. Generally, the Company will be responsible for tax filing of your remuneration in Korea (including but not limited to base salary, cash bonus and equity compensation). The Company will withhold all applicable taxes through the withholding system.
3.4. The Company will also be responsible for tax filing of 100% of the remuneration in the US – as you will be a US resident subject to taxes on worldwide income. Applicable withholdings will be applied. Social taxes will be withheld and remitted.
3.5. During the term of this assignment, tax filing preparation will be provided by the accounting firm selected by the Company at the Company’s cost.
4. Relocation Related Benefits
4.1. In connection with this assignment and in accordance with the expatriate support policy, the Company shall provide certain relocation-related benefits.
4.2. The Company shall provide long-term rental or lease car service in accordance with the annual limit stated in the expatriate support policy, but with no monthly limits.
5. Home Travel Support
5.1. You and your family members will be eligible for one (1) round-trip airfare to the home country (other than business trips) after one year of assignment as a home travel support. This can be substituted with one (1) round-trip airfare for one family member residing in the home country.
6. Assignment and Termination
6.1. It is anticipated that this assignment will last for a period of about three (3) years from April 1, 2025, subject to renewal of the Business Delegation Agreement between you and WEBTOON. Upon satisfactory completion of the assignment, the Company will make a decision to either (1) offer you to return to a position in the home country or (2) offer you a position with WEBTOON, subject to the Company’s at-will employment policy.
6.2. Should you voluntarily resign your position, all benefits under this assignment, and any other Company policy, including but not limited to, US company health benefit plans, arrangements, and relocation benefits will cease to be effective as of your termination date. No assistance will be provided for relocating back to the home location. Company-sponsored work permits/visas will be terminated on the earlier of the last day of your employment or last day in the US.
WEBTOON Entertainment Inc.
5700 Wilshire Boulevard, Suite 220
Los Angeles, CA 90036
6.3. Should the Company terminate your employment for cause while on this assignment, all benefits under this assignment and any other Company policy including but not limited to health benefit plans, arrangements, and relocation benefits will cease to be effective as of your termination date.
7. Repatriation
7.1. Subject to Section 6 hereof, at the end of your assignment, the Company will provide travel back to the home location and transportation of household goods.
7.2. Your employment is not conditional upon the completion of the assignment. In the event the Company terminates your assignment other than for cause, or there is a mutual agreement between you and the Company to terminate your assignment, you will be provided repatriation benefits back to the home country. If you voluntarily resign or are terminated for cause, you will be liable for certain relocation expenses paid by the Company in accordance with the relevant policies.
Once you have read and agreed to the above, please sign below, and retain a copy for your files. If any questions should arise in connection with your assignment package or related tax issues, please contact me, Glenn Choi.
We look forward to working with you as you embark upon this challenging assignment.
Sincerely,
WEBTOON Entertainment Inc.
Signed /s/ Junkoo Kim Dated 3/26/2026
Accepted and acknowledged by:
Yongsoo Kim
Signed /s/ Yongsoo Kim Dated 3/26/2026
Yongsoo Kim
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Mar. 02, 2026
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