# EDGAR Filing Document

**Accession Number:** 0001997859
**File Stem:** 0001997859-26-000029
**Filing Date:** 2026-3
**Character Count:** 33378
**Document Hash:** 23643377b8da8b7e9503fb44895dd5cf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001997859-26-000029.hdr.sgml**: 20260305

**ACCESSION NUMBER**: 0001997859-26-000029

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 16

**REFERENCES 429**: 333-280513

**REFERENCES 429**: 333-286363

**FILED AS OF DATE**: 20260305

**DATE AS OF CHANGE**: 20260305

**EFFECTIVENESS DATE**: 20260305

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WEBTOON Entertainment Inc.
- **CENTRAL INDEX KEY:** 0001997859
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS PUBLISHING [2741]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-294053
- **FILM NUMBER:** 26726414

**BUSINESS ADDRESS:**
- **STREET 1:** 5700 WILSHIRE BLVD, SUITE 220
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90036
- **BUSINESS PHONE:** 213-347-4841

**MAIL ADDRESS:**
- **STREET 1:** 5700 WILSHIRE BLVD, SUITE 220
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90036

**As filed with the Securities and Exchange Commission on March 5, 2026** 

**Registration No. 333-** 

**UNITED STATES** <br>

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**________________________**

**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

**________________________**

**WEBTOON ENTERTAINMENT INC.**

**(Exact name of registrant as specified in its charter)** 

**________________________**

---

| | |
|:---|:---|
| **Delaware** | **83-3830533** |
| **(State or other jurisdiction of<br>incorporation or organization)**<br>**5700 Wilshire Blvd., Suite 220**<br>**Los Angeles, CA**<br>**(Address of Principal Executive Office)** | **(I.R.S. Employer<br>Identification No.)**<br>**90036**<br>**(Zip Code)** |

---

**WEBTOON Entertainment Inc. 2024 Omnibus Incentive Plan** 

**(Full title of the plan)** 

**________________________**

**Junkoo Kim**

**Chief Executive Officer**

**WEBTOON Entertainment Inc.**

**5700 Wilshire Blvd., Suite 220**

**Los Angeles, CA 90036**

**(213) 347-4841**

**(Name, address and telephone number, including area code, of agent for service)** 

**________________________**

***Copy to:***

**Michael Kim, P.C.**

**Kirkland & Ellis LLP** 

**601 Lexington Avenue** 

**New York, New York 10022** 

**(212) 446-4800** 

**________________________**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☒ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| | | 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 7(a)(2)(B) of the Securities Act. ☐

**________________________**

**The Registration Statement shall become effective upon filing in accordance with Rule 462 under the Securities Act.** 

------

**EXPLANATORY NOTE** 

WEBTOON Entertainment Inc. (the "Registrant") is filing this registration statement (the "Registration Statement") on Form S-8 with the United States Securities and Exchange Commission (the "SEC") to register up to 6,538,808 additional shares of the Registrant's common stock, par value $0.0001 per share ("Shares"), which have been authorized and reserved for issuance under the WEBTOON Entertainment Inc. 2024 Omnibus Incentive Plan (the "Plan"), approved by the Registrant's board of directors on June 14, 2024 (the "Effective Date"), as a result of the annual evergreen increase under the Plan. In accordance with General Instruction E of Form S-8, this Registration Statement hereby incorporates by reference the contents of the Registration Statement on Form S-8 (File No. 333-280513), filed by the Registrant with the SEC on June 27, 2024.

**PART I <br>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS** 

**Item 1. Plan Information.** 

The documents containing the information specified in Part I will be delivered to the participants of the Plan in accordance with Rule 428(b)(1) under the Securities Act of 1933, as amended (the "Securities Act"). Such documents are not required to be, and are not, filed with the SEC, either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents, and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of the Form S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**Item 2. Registrant Information and Employee Plan Annual Information.** 

The written statement required by Item 2 of Part I is included in documents that will be delivered to the participants of the Plan pursuant to Rule 428(b)(1) of the Securities Act.

**PART II <br>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference.** 

The Registrant hereby incorporates by reference into this Registration Statement the following documents previously filed with the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Registrant's Annual Report on <u>[Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/1997859/000199785925000017/wbtn-20241231.htm)</u> (File No. 001-42144) for the year ended December 31, 2025, filed with the SEC on March 5, 2026; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the description of the Registrant's common stock included in the Registrant's Form 8-A (File No. 001-42144) filed with the SEC on June 26, 2024, pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including any amendment or report filed for the purpose of updating, changing or otherwise modifying such description.

Except to the extent that information is deemed furnished and not filed pursuant to securities laws and regulations, all documents filed by the Registrant with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date hereof and prior to the filing of a post-effective amendment that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall also be deemed to be incorporated by reference herein and to be a part hereof from the dates of filing of such documents. Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein, or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein, modifies or supersedes such earlier statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

------

**Item 4. Description of Securities.** 

Not applicable.

**Item 5. Interests of Named Experts and Counsel.** 

Not applicable.

**Item 6. Indemnification of Directors and Officers.** 

Section 102(b)(7) of the Delaware General Corporation Law (the "DGCL") permits a corporation to provide in its certificate of incorporation that a director or officer of the corporation shall not be personally liable to the corporation or its shareholders for monetary damages for breach of fiduciary duty as a director or officer, except for liability of (1) a director or officer for any breach of the director's or officer's duty of loyalty to the corporation or its shareholders, (2) a director or officer for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3) a director for unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the DGCL, (4) a director or officer for any transaction from which the director or officer derived an improper personal benefit or (5) an officer in any action by or in the right of the corporation. The Registrant's amended and restated certificate of incorporation (the "Amended Charter") provides for such limitation of liability.

Section 145 of the DGCL provides that a corporation may indemnify directors and officers as well as other employees and individuals against expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with any threatened, pending or completed actions, suits or proceedings in which such person is made a party by reason of such person being or having been a director, officer, employee or agent to the Registrant. The DGCL provides that Section 145 is not exclusive of other rights to which those seeking indemnification may be entitled under any by-law, agreement, vote of shareholders or disinterested directors or otherwise.

The Registrant's amended and restated bylaws (the "Amended Bylaws") provide, among other things, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Registrant shall indemnify and hold harmless, to the fullest extent permitted by applicable law as it presently exists or may thereafter be amended, any person (a "Covered Person") who was or is made or is threatened to be made a party or is otherwise involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative (a "proceeding"), by reason of the fact that he or she, or a person for whom he or she is the legal representative, is or was a director or officer of the Registrant or, while a director or officer of the Registrant, is or was serving at the request of the Registrant as a director, officer, employee or agent of another corporation or of a partnership, joint venture, trust, enterprise or nonprofit entity, including service with respect to employee benefit plans, against all liability and loss suffered and expenses reasonably incurred by such Covered Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Notwithstanding the foregoing, subject to certain exceptions, the Registrant shall be required to indemnify a Covered Person in connection with a proceeding (or part thereof) commenced by such Covered Person only if the commencement of such proceeding (or part thereof) by the Covered Person was authorized in the specific case by the Registrant's board of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Registrant shall to the fullest extent not prohibited by applicable law pay the expenses incurred by a Covered Person in defending any proceeding in advance of its final disposition, provided, however, that, to the extent required by law, such payment of expenses in advance of the final disposition of the proceeding shall be made only upon receipt of an undertaking by the Covered Person to repay all amounts advanced if it should be ultimately determined that the Covered Person is not entitled to be indemnified under the Registrant's Amended Bylaws or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The rights conferred on any Covered Person by the Amended Bylaws shall not be exclusive of any other rights which such Covered Person may have or thereafter acquire under any statute, provision of the Amended Charter, the Amended Bylaws, agreement, vote of stockholders or disinterested directors or otherwise.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any right to indemnification or to advancement of expenses of any Covered Person arising thereunder shall not be eliminated or impaired by an amendment to or repeal of the Amended Bylaws after the occurrence of the act or omission that is the subject of the civil, criminal, administrative or investigative action, suit or proceeding for which indemnification or advancement of expenses is sought.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The indemnification provisions in the Amended Bylaws shall not limit the right of the Registrant, to the extent and in the manner permitted by law, to indemnify and to advance expenses to persons other than Covered Persons when and as authorized by appropriate corporate action.

The Registrant also maintains directors' and officers' insurance to insure such persons against certain liabilities.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, or persons controlling the Registrant pursuant to the foregoing provisions, the Registrant has been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

The Registrant has entered into separate indemnification agreements with our directors and executive officers. Each indemnification agreement provides, among other things, for indemnification to the fullest extent permitted by law and our Amended Charter and Amended Bylaws against any and all expenses, judgments, fines, penalties and amounts paid in settlement of any claim. The indemnification agreements provide for the advancement or payment of all expenses to the indemnitee and for reimbursement to us if it is found that such indemnitee is not entitled to such indemnification under applicable law and our Amended Charter and Amended Bylaws.

These indemnification provisions may be sufficiently broad to permit indemnification of the Registrant's officers and directors for liabilities (including reimbursement of expenses incurred) arising under the Securities Act.

Any amendment to, or repeal of, these provisions will not eliminate or reduce the effect of these provisions in respect of any act, omission or claim that occurred or arose prior to that amendment or repeal. If the DGCL is amended to provide for further limitations on the personal liability of directors or officers of corporations, then the personal liability of the Registrant's directors and officers will be further limited to the fullest extent permitted by the DGCL.

The above discussion of the DGCL, the Amended Charter, the Amended Bylaws, indemnification agreements, and the Registrant's maintenance of directors' and officers' liability insurance is not intended to be exhaustive and is qualified in its entirety by reference to such statute or applicable document.

See also the Undertakings set forth in the response to Item 9 herein.

**Item 7. Exemption from Registration Claimed.** 

Not applicable.

------

**Item 8. Exhibits.** 

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 4.1 | <u>[Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 of the Registrant's Current Report on Form 8-K filed with the SEC on July 1, 2024).](https://www.sec.gov/Archives/edgar/data/1997859/000119312524173353/d841371dex31.htm)</u> |
| 4.2 | <u>[Amended and Restated By-Laws of the Registrant (incorporated by reference to Exhibit 3.2 to the Registrant's Current Report on Form 8-K filed with the SEC on July 1, 2024).](https://www.sec.gov/Archives/edgar/data/1997859/000119312524173353/d841371dex32.htm)</u> |
| 5.1\* | <u>[Opinion of Kirkland & Ellis LLP.](webtoonentertainmentinc-sxa.htm)</u> |
| 10.1 | <u>[WEBTOON Entertainment Inc. 2024 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.5 of the Registrant's Registration Statement on Form S-8 filed with the SEC on June 27, 2024).](https://www.sec.gov/Archives/edgar/data/1997859/000119312524169370/d802255dex105.htm)</u> |
| 23.1\* | <u>[Consent of Samil PricewaterhouseCoopers, independent registered public accounting firm.](wbtn_s-8consentx20260305.htm)</u>  |
| 23.2\* | <u>[Consent of Kirkland & Ellis LLP (contained in Exhibit 5.1).](webtoonentertainmentinc-sxa.htm)</u> |
| 24.1\* | <u>[Power of Attorney (included in the signature page to this Registration Statement).](#i688e02deb5a347cf8a352c69ee5aefcd_7)</u> |
| 107\* | <u>[Filing Fee Table](exfilingfees.htm)</u> |

---

<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>

\*&nbsp;&nbsp;&nbsp;&nbsp;Filed herewith.

**Item 9. Undertakings** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;to reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Filing Fee" table in this Registration Statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;

*provided, however,* that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the SEC by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Los Angeles, State of California, on March 5, 2026.

**WEBTOON Entertainment Inc.**

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Junkoo Kim&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name:&nbsp;&nbsp;&nbsp;&nbsp;Junkoo Kim

Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer and Chairman of the Board

**POWER OF ATTORNEY** 

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below appoints Junkoo Kim and David J. Lee, and each of them, any of whom may act without the joinder of the other, as his or her true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments to this Registration Statement (including post-effective amendments), and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the SEC, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he or she might or would do in person, hereby ratifying and confirming all that each of said attorneys-in-fact and agents or either of them or their, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof. This power of attorney may be executed in counterparts and all capacities to sign any and all amendments.

\* \* \* \*

------

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated below.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Junkoo Kim<br>Junkoo Kim | Chief Executive Officer and Chairman of the Board<br>(Principal Executive Officer) | March 5, 2026 |
| /s/ David J. Lee<br>David J. Lee | Chief Financial Officer, Chief Operating Officer and Director<br>(Principal Financial and Accounting Officer) | March 5, 2026 |
| /s/ Yongsoo Kim Yongsoo Kim | President and Director | March 5, 2026 |
| /s/ Haejin Lee<br>Haejin Lee | Director | March 5, 2026 |
| /s/ Namsun Kim<br>Namsun Kim | Director | March 5, 2026 |
| /s/ Jun Masuda<br>Jun Masuda | Director | March 5, 2026 |
| /s/ Isabelle Winkles<br>Isabelle Winkles | Director | March 5, 2026 |
| /s/ Nancy Dubuc<br>Nancy Dubuc | Director | March 5, 2026 |
| /s/ Saeju Jeong<br>Saeju Jeong | Director | March 5, 2026 |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? exfilingfees

**Calculation of Filing Fee Table** 

**Form S-8**

(Form Type)

**WEBTOON Entertainment Inc.** 

(Exact Name of Registrant as Specified in its Charter)

<u>Table 1: Newly Registered Securities</u> 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Security Type | Security Class Title | Fee Calculation Rule | Amount Registered<sup>(1)</sup> | Proposed Maximum Offering Price Per Unit | Maximum Aggregate Offering Price | Fee Rate | Amount of Registration Fee |
| Equity | Common Stock, par value of $0.0001 per share, of the Registrant ("Common Stock") reserved for issuance pursuant to awards under the Registrant's 2024 Omnibus Incentive Plan (the "Plan") | Rule 457 (c) and Rule 457(h) | 6538808<sup>(2)</sup> | $11.34<sup>(3)</sup> | $74150082.72 | 0.00013810 | $10240.13 |
| Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts |  | $74150082.72 |  | $10240.13 |
| Total Fee Offsets<sup>(4)</sup> | Total Fee Offsets<sup>(4)</sup> | Total Fee Offsets<sup>(4)</sup> | Total Fee Offsets<sup>(4)</sup> |  |  |  |  |
| Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due |  |  |  | $10240.13 |

---

(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement ("Registration Statement") shall also cover any additional shares of Common Stock which become issuable under the Plan by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration which results in an increase in the number of outstanding shares of Common Stock, as applicable.

(2) Represents an additional 6,538,808 shares of Common Stock reserved for future issuance pursuant to the annual "evergreen" increase for 2026 under the Plan, and shares of Common Stock that may again become available for delivery with respect to awards under the Plan pursuant to the share counting, share recycling and other terms and conditions of the Plan.

(3) Estimated in accordance with Rule 457(c) and (h) under the Securities Act solely for the purpose of calculating the registration fee on the basis of $11.34, the average of the high and low prices of Common Stock as reported on the Nasdaq Global Select Market on February 27, 2026, which date is within five business days prior to the filing of this Registration Statement.

(4) The Registrant does not have any fee offsets.

## Exhibit 5.1

---

| | | |
|:---|:---|:---|
| ![image_1a.jpg](image_1a.jpg) | ![image_1a.jpg](image_1a.jpg) | ![image_1a.jpg](image_1a.jpg) |
|  | 601 Lexington Avenue<br>New York, NY 10022<br>United States<br>+1 212 446 4800<br>www.kirkland.com | Facsimile:<br>+1 212 446 4900 |

---

**Exhibit 5.1**

March 5, 2026

WEBTOON Entertainment Inc.<br>5700 Wilshire Blvd., Suite 220<br>Los Angeles, CA 90036

&nbsp;&nbsp;&nbsp;&nbsp;Re:&nbsp;&nbsp;&nbsp;&nbsp;Registration Statement on Form S-8

&nbsp;&nbsp;&nbsp;&nbsp;We are issuing this opinion in our capacity as special legal counsel to WEBTOON Entertainment Inc., a Delaware corporation (the "Registrant"), in connection with the filing by the Registrant of a Registration Statement on Form S-8 (the "Registration Statement") under the Securities Act of 1933, as amended (the "Securities Act"), with the Securities and Exchange Commission (the "SEC") covering the offering of up to 6,538,808 shares (the "Shares") of common stock, par value $0.0001 per share, of the Registrant issuable pursuant to the Registrant's 2024 Omnibus Incentive Plan (the "Plan").

&nbsp;&nbsp;&nbsp;&nbsp;In connection therewith, we have examined originals, or copies certified or otherwise identified to our satisfaction, of such documents, corporate records and other instruments as we have deemed necessary for the purpose of this opinion, including (i) the corporate and organizational documents of the Registrant, (ii) the Registration Statement and the exhibits thereto, (iii) minutes and records of the corporate proceedings of the Registrant with respect to the offering of the Shares and (iv) the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this opinion, we have assumed the authenticity of all documents submitted to us as originals, the conformity to the originals of all documents submitted to us as copies and the authenticity of the originals of all documents submitted to us as copies. We have also assumed the legal capacity of all natural persons, the genuineness of the signatures of persons signing all documents in connection with which this opinion is rendered, the authority of such persons signing on behalf of the parties thereto (other than the Company), and the due authorization, execution and delivery of all documents by the parties thereto (other than the Company). As to any facts material to the opinions expressed herein which we have not independently established or verified, we have relied upon statements and representations of officers and other representatives of the Registrant and others.

&nbsp;&nbsp;&nbsp;&nbsp;Based upon and subject to the assumptions, qualifications and limitations identified in this opinion, we are of the opinion that the Shares are duly authorized and when the Shares are issued pursuant to and in accordance with the terms and conditions of the Plan and the Registrant's Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws, the Shares will be validly issued, fully-paid and non-assessable.

&nbsp;&nbsp;&nbsp;&nbsp;Our opinions expressed above are subject to the qualifications that we express no opinion as to the applicability of, compliance with, or effect of any laws except the General Corporation Law of the State of Delaware.

Austin Bay Area Beijing Boston Brussels Chicago Dallas Frankfurt Hong Kong Houston London Los Angeles Miami Munich Paris Philadelphia Riyadh Salt Lake City Shanghai Washington, D.C.<br>

------

---

| |
|:---|
| ![image_0a.jpg](image_0a.jpg) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WEBTOON Entertainment Inc.<br>March 5, 2026<br>Page 2 |

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&nbsp;&nbsp;&nbsp;&nbsp;For purposes of rendering our opinions expressed above, we have assumed that (i) the Registration Statement remains effective during the offer and sale of the Shares, and that (ii) at the time of the issuance, sale and delivery of each Share, there will not have occurred any change in law affecting the validity, legally binding character or enforceability of such Share. We have also relied without independent investigation upon, among other things, an assurance from the Registrant that the number of shares which the Registrant is authorized to issue in its Amended and Restated Certificate of Incorporation exceeds the number of shares outstanding and the number of shares which the Registrant is obligated to issue (or had otherwise reserved for issuance) for any purposes other than issuances of the Shares by at least the number of Shares and we have assumed that such condition will remain true at all future times relevant to this opinion.

&nbsp;&nbsp;&nbsp;&nbsp;We do not find it necessary for the purposes of this opinion, and accordingly we do not purport to cover herein, the application of the securities or "Blue Sky" laws of the various states to the issuance and sale of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;This opinion is limited to the specific issues addressed herein, and no opinion may be inferred or implied beyond that expressly stated herein. This opinion speaks only as of the date hereof, and we assume no obligation to revise or supplement this opinion should the General Corporation Law of the State of Delaware be changed by legislative action, judicial decision or otherwise after the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;This opinion is furnished to you in connection with the filing of the Registration Statement, and is not to be used, circulated, quoted or otherwise relied upon for any other purposes.

&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the filing of this opinion with the SEC as Exhibit 5.1 to the Registration Statement. In giving this consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the SEC.

Sincerely,<br><u>/s/ Kirkland & Ellis LLP&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>KIRKLAND & ELLIS LLP

## Exhibit 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of WEBTOON Entertainment Inc. of our report dated March 5, 2026 relating to the financial statements and the effectiveness of internal control over financial reporting, which appears in WEBTOON Entertainment, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2025.

/s/ Samil PricewaterhouseCoopers<br>Seoul, Korea <br>March 5, 2026&nbsp;&nbsp;&nbsp;&nbsp;

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