StorinLab Partners with HiveMind for Korean Web Novel Expansion

Finance Today, Sep 11, 2024

Web novel distributor StorinLab has signed a strategic MOU with AI startup HiveMind, marking a new phase in bringing Korean cultural content to global markets.

As Korean dramas gain worldwide popularity through platforms like Netflix, interest in their original web novel sources has surged.

However, despite the growing demand for web novel IPs, translation quality and cost remain major barriers to overseas expansion.

To overcome these challenges, StorinLab plans to leverage HiveMind’s advanced AI translation technology to introduce its popular Korean web novels to multiple global markets.

Under the agreement, HiveMind will provide high-quality AI translation services using web novel-based training data, while StorinLab will initially focus on Japanese translations, reducing costs while maintaining excellent quality.
Through AI, the partnership will also implement localized adaptations that go beyond literal translation, reflecting cultural nuances to accelerate entry into the Japanese market.

StorinLab CEO Moon Seok-joo said: “We are delighted to secure a bridgehead for bringing Korea’s outstanding web novels to overseas markets through this partnership. Together with HiveMind, we will do our best to contribute to the global spread of Korean cultural content.”

HiveMind CEO Warren Kim added: “We will support Korean web novels in gaining global popularity using our AI translation technology and continue improving translation quality through innovation.”

This partnership between two SMEs is expected to create new momentum for Korean web novels entering international markets by combining their strengths through collaboration and AI-driven localization.

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