A special edition newspaper featuring the news of President Yoon Suk-yeol’s impeachment motion being passed on December 14 is displayed at Seoul Station. (Yonhap)
SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s newspaper industry posted record revenues in 2024, surpassing 5 trillion won for the first time, driven largely by the rapid expansion of online outlets, according to a new industry survey released Monday.
But the milestone masked deepening polarization, with a small number of large publishers capturing the bulk of revenue while most news organizations remained marginal operations.
Data from the Korea Press Foundation’s 2025 Newspaper Industry Survey showed total newspaper industry revenue reached 5.31 trillion won ($3.9 billion) in 2024, up 10.8 percent from a year earlier.
Online newspapers led the growth, with revenues jumping 26.8 percent year on year, while print outlets continued to rely heavily on advertising.
The number of registered newspaper companies rose to 6,549 in 2024, an increase of 5.3 percent from 2023. Nearly four out of five publishers, or 78.5 percent, were online-only outlets, reflecting the industry’s continued shift toward digital platforms.
Despite this expansion, revenue concentration was stark. About 58 percent of newspaper companies reported annual sales of less than 100 million won, together accounting for just 2.5 percent of total industry revenue.
By contrast, the top 0.9 percent of publishers — those earning more than 10 billion won annually — captured nearly 60 percent of all revenues.
Advertising remained the dominant source of income, accounting for roughly two-thirds of revenues at print newspapers and more than 60 percent at online outlets, underscoring the industry’s continued dependence on ad markets.
The foundation estimated the newspaper industry’s total operating profit at 206.1 billion won in 2024. Employment across the sector totaled 50,708 people, with reporters making up nearly two-thirds of the workforce.
Most publishers remained small: more than 86 percent employed fewer than 10 people, while fewer than 1 percent had workforces of 100 or more.
In its assessment, the foundation said the newspaper industry had achieved visible growth in size and revenue but warned that widening disparities in income and employment posed structural challenges that could undermine long-term sustainability.
Ashley Song (ashley@koreabizwire.com)
