Though the personal life of Abraham
Lincoln has, of late, been fodder for American
readers, it may come as a surprise that Honest Abe,
along with other prominent American historical figures,
has become a figure of interest in Korea. “For
awhile there, it seemed all anyone was interested in
was our Lincoln-related backlist,” including Carl
Sandburg’s two-volume bio, reports Kent
Wolf, Subsidiary Rights Manager at Harcourt.
By most accounts, faction books — blending fact
and fiction — were the in thing in Korea this
year with historical novels (particularly those dealing
with Korea's national heroes), topping bestseller lists.
Following in the ranks of Angels and Demons, The Rule
of Four, and The Dante Club, the Korean author Lee
In Hwa’s Habiro has also played a role
in the faction boom.
Regardless of these successes, last
year's turnover in the publishing sector was “the
worst since an economic crisis struck the nation in
1997, and the outlook for 2005 is not much better,”
according to Seung Hyun Moon, Manager,
International Cooperation, for the Korean Publishers
Association. Nationwide economic woes have
led to a shrinkage in the overall size of the domestic
publishing industry in Korea over the last three years,
with a reduction in the variety and total number of
books published, yet these same burdens have had a surprisingly
serendipitous effect on the industry. Self-improvement
titles are slowly making their mark as financial difficulties
have drawn people to books on how to invest and become
the next millionaire. In fact, six out of ten bestsellers
are non-fiction titles, most of them focused on self-improvement
and investment. Even the ponderous Trends in Korea,
2010, compiled by the LG Economy Research Institute
is on some bestseller lists, as Koreans look for a light
at the end of the tunnel.
On a more promising note, Moon adds
that he expects the trend toward joint ventures, following
that of Random House JoongAng (formed
exactly one year ago), to continue into 2005. According
to Y.S. Chi, President of RH Asia,
who oversees the operation on behalf of RH, the venture
thrived in its first year, “financially, qualitatively,
and in terms of organization.” Though cognizant
of the weakness in domestic consumption, “we are
being aggressive in trying to change how business is
done in Korea,” and better reviews and marketing
are all promising signs. The Korean market is also interesting
in that it is “rich and diversified in terms of
its channels,” he said, noting that books are
sold in chains independents, supermarkets, and even
door-to-door.
In addition, a “Korean Wave”
is gaining steam in Asia as copyright selling (particularly
of books related to Korean films and soap operas) to
other Asian countries is projected to grow further.
The e-book market is also expected to grow in 2005,
from a market volume of $3 million to $7 million, Moon
reports.
Even though Korea is currently a
tough market for fiction, authors who have established
a foothold in the country are trusted and their success
is all but guaranteed. Lara Allen, Foreign
Rights Manager at HarperCollins, reports
that Julia Quinn, one of HC’s
best-selling romance authors is the top author of her
Korean publisher, Shin Yong Media.
“They have an aggressive romance market, and they
also seem to buy a lot of religious titles,” Allen
said.
Korean authors have somewhat consistently
been introduced to the North American market, though
most works published in the US or other English-speaking
countries only sell a few hundred copies or less, according
to Heidi Kim of the Korea Literature
Translation Institute. She adds that there
are many promising Korean authors who have yet to reach
the US market including Seong Seok-je,
who writes of thugs, thieves, villains and vagabonds;
Shin Gyeong-suk, whose writing is known
for its introspective quality; and Gong Jiyeong,
one of the most recognized women writers in Korea. In
the hopes of bringing a taste of Korea to the US, children's
educational publisher Woonjin is establishing
a US outpost named Bearport Publishing
headed by veteran President and Publisher Kenn
Goin who will publish their first list this
spring
With Korea slated as the guest of
honor at this year's Frankfurt Book Fair,
the Korean government is pulling out all the stops,
spearheading several projects including “100 Books
from Korea,” with the aim of translating and publishing
100 Korean books into any one of six languages (English,
German, French, Spanish, Chinese, and Japanese).
