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).
