India's First International News Journal

India's First International News Journal

Tuesday, September, 27, 2022

Press Release

S. Korean animation production company You Need Character establishes its subsidiary in India


                            Bengaluru, Karnataka, India:
                         You Need Character Co., Ltd., a global animation production company has set up its India subsidiary and launched Cricket Pang, an animation series for kids, in December 2021.

You Need was founded in 2017 by Mr. Minsu Song, who is a former Director of Content and Character Business in iConix, the original company for Pororo which is the most famous character IP in Korea. You Need Character’s Indian creative animation will be around the main theme of ‘Cricket’.
As a result of participating in local exhibitions in India and several discussions with Indian partners since 2018, the team was assured of the growth potential of the Indian market. With this strong belief and confidence, the Indian Corporation has been established and active promotions are underway.
In recognition of its global expansion, You Need Character Co., Ltd. succeeded in attracting $2.3mn Series A investment in Korea earlier this year. The company has also roped in Indian national cricket player Ajinkya Rahane as its brand ambassador. This accelerated the development of cricket casual games and cricket simulation games, as well as to publish a set series of Cricket Pang storybooks with the global publisher HarperCollins.
Mr. Minsu Song, CEO of You Need Character Co., Ltd ,said, “I am amazed at the growth potential the Indian market has for us. And after working closely with the Indian market for 3 years, despite the Covid 19 pandemic, we decided that it was now time for us to set up the India entity and focus more on the content creation and distribution for this market. We are now based in Bangalore as it is the startup Silicon Valley with amazing talent and IT infrastructure.”
In addition, “Early this year, we were part of the accelerator program run by National IT Industry Promotion Agency (NIPA), India and they have supported us immensely with understanding the India market and also to set up the India entity for You Need Character.We would be hiring a competent Indian team to strengthen the network of affiliates and create business power in India. India is indeed still a tough market in many ways, but what is clear is that it is an area with a strong future vision that global investors pay most attention to. We have seen infinite possibilities in India over the past three years while promoting Indian projects and will create great value with Indian partners who have established trust relationships with us.”
As the immediate next steps, by the first half of 2022, You Need Character plans to position itself as an Edtech company with the global launch of Cricket Pang Animation Season 2 and also launch a children’s English learning app. The aim is to secure 10mn Indian children users within 12 months.

Mr. Song also adds, “We aspire to become a complete kids platform business beyond animation characters and education. It can surely be achieved by localizing as much as possible for the Indian market.”
The company plans to raise funds from Indian VCs next year.

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