**Publication Rights Contract’, ‘Exclusive Electronic Publishing Rights Contract’, ‘Serialization Contract’ Announcement**
Preference for Standard Contracts in Support Program Competitions
[Herald Economy = Reporter Kim Hyun-kyung] Web novel authors are assured the right to terminate an automatically renewed contract at any time and to take breaks for treatment or rest when needed.
On the 20th, the Ministry of Culture, Sports, and Tourism announced the enactment of three types of standard contracts in the web novel sector, which include the ‘Publication Rights Contract’, ‘Exclusive Electronic Publishing Rights Contract’, and ‘Serialization Contract’.
The standard contracts allow web novel copyright holders to notify the business operator of contract termination at any time if there is no notice given by the operator regarding the end of the contract and it is automatically extended. The contracts also require the business operator to inform the copyright holder in advance if the contract will be extended for an agreed period due to no termination notice.
Additionally, if a copyright holder needs treatment or rest due to accidents or illness, they can request a publishing break from the business operator, and both parties can agree on a break period, which will then be announced on the platform.
There are also regulations in place requiring the business operator to provide a revenue statement to the copyright holder that includes total sales, price per episode, taxes and fees, net sales, actual payment, and more.
Furthermore, it is specified that a separate contract must be made for the use of derivative work rights or agency mediation related to the intellectual property.
The Ministry plans to promote the use of standard contracts by giving preference to businesses or organizations using them in related business competitions, such as the ‘Web Novel Translation Support Program’.
An explanatory guide on the implications of the amended provisions and precautions, titled the ‘Web Novel Standard Contract Guide’, will also be produced and distributed in the latter half of the year.
Additionally, an amendment to the ‘Publishing Culture Industry Promotion Act’, aimed at prohibiting the unfair practice of unjustly shifting promotion or discount costs onto web novel copyright holders, will be submitted to the National Assembly soon.
Minister Yu In-chon of the Ministry of Culture, Sports and Tourism stated, “We will do our best to ensure the healthy and sustainable development of the Korean web novel industry as it expands globally.”