ZOMBIE

Webtoon studio survived 7 yr · ZOMBIE

Jung Ye-rin, 38 · 7 yr

“I’ll never complain about a small business again 🙃”

The company is alive. So why am I still doing this?

The company is alive. Growth has stopped. Revenue barely keeps up with costs, and there is no next step in sight. Cash ₩48,665,124, debt ₩0, 0 employees, 448 customers. You go to the office every day, but you are not sure why. The reason you cannot close and the reason you keep going feel like the same thing.

How it went

1. 2026 · preparing to openJung Ye-rin, 32. You have decided to try starting a company in Gyeonggi. No idea, no product yet. Savings ₩43,190,000, employed (₩3,320,000 a month).
2. Debt from day onePersonal debt: ₩590,000 a month for 91 months. It comes out regardless of the company.
3. 11/2026: what now?Start a business: «Dog-walking community app» — You are going with «Dog-walking community app». Still no company, no product. Now find out whether the idea is real.
4. 2026 · year 1 beginsChinese Demand Cooled · US Rates Rose Again
5. 11/11 · The exchange rate pushed up import billsThe KRW/USD rate rose to 1,391. Servers and subscriptions billed in dollars cost more.
6. 12/2026: what now?Interview 20 people — 6 of 20 said they would pay. 5 only said it would be "nice to have".
7. 1/2027: what now?Decide to build it — You decided to build. Validation ends here.
8. 1/21 · A competitor movedA competitor shipped the feature you were preparing, first. Their price is lower.
9. 2/2027: what now?Build it with no-code tools — You picked a template. By lunch there was a login screen.
10. 2/18 · Your mentorAn old mentor called. “What scares you most right now?” they asked.
11. 3/2027: what now?Quit your job — You quit. The next morning, not having to go to work felt strange.
12. 3/4 · Down sickA sore throat and a fever. You got through the day in a mask.
13. 4/2027: what now?Keep building — You crossed three lines off the list. Two new ones appeared.
14. 4/18 · Funding costs rose againThe US 10-year yield rose to 5.76%. Investors recalculated valuations, and the bank asked for more collateral.
15. 5/2027: what now?Keep building — Another month the same way. Progress crept up.
16. 6/2027: what now?Keep building — What you built today, you fixed tomorrow. Progress still went up.
17. 6/28 · FamilyYour family packed you lunch. The note said, “Eat properly.”
18. 7/2027: what now?Keep building — You crossed three lines off the list. Two new ones appeared.
19. 7/22 · A competitor movedA big company bolted a similar feature onto its product, free. More customers now ask, “How are you different?”
20. 8/2027: what now?Launch — You pressed launch. 154 sign-ups on day one. You refreshed ten times.
21. 8/17 · Service outageRight after the deploy, login broke. Restored in forty minutes, but customer messages flooded in.
22. 8/23 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
23. 9/2027: what now?Spread the word through communities and content — 40 new customers this month. A post drew questions, and the questions turned into sign-ups.
24. 9/8 · Down sickA sore throat and a fever. You got through the day in a mask.
25. 10/2027: what now?Keep going — Spread the word through communities and content — 11 new customers this month. Among the new names were people last month’s customers had sent.
26. 10/8 · Your mentorAn old mentor called. “What scares you most right now?” they asked.
27. Time to hire?Not this time — You never posted the job ad.
28. Chinese Demand CooledA prolonged slump in Chinese domestic demand and real estate lowered Asia's export outlook. Clients who bought raw materials cut orders, and domestic consumption turned cautious as well.
29. US Rates Rose AgainSignals of Fed tightening strengthened the dollar, and this country's funding rates followed. When the KRW/USD rate jumped, costing got complicated again for anyone buying imported ingredients or parts.
30. Year 1 closeRevenue ₩1,070,856, loss ₩15,280,485. Cash ₩17,209,515.
31. 2027 · year 2 beginsA Competitor Copied You
32. 11/21 · Server bill spikeA test server you forgot to switch off had been running all month.
33. 12/2027: what now?Keep going — Spread the word through communities and content — 5 new customers this month. While the number climbs, it looks like a company.
34. 12/7 · FamilyYou talked with your family for a long time. Someone said, “You come before the money.”
35. 1/2028: what now?Take a job and run it on the side — You rewrote your CV. The interviewer found the startup story interesting.
36. 1/27 · A competitor movedA big company bolted a similar feature onto its product, free. More customers now ask, “How are you different?”
37. AI redrew the marketIgnore it — You did not buy the tools. Six months later, a competitor offered the same service at half the price.
38. 2/24 · Service outageRight after the deploy, login broke. Restored in forty minutes, but customer messages flooded in.
39. 2/28 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
40. 3/2028: what now?Fix retention — You asked five departed customers why. The answer was trust, not features.
41. 3/22 · Covered in an articleAn industry outlet wrote about the product. Sign-up inquiries rose a little.
42. 4/2028: what now?Incorporate — The company is registered. Your business card now says CEO.
43. The “₩20,000,000 a month or your money back” courseBlock the ad — You block it and another account posts the same ad. The money is still in your account.
44. 6/2028: what now?Spread the word through communities and content — 26 new customers this month. A post drew questions, and the questions turned into sign-ups.
45. 6/9 · FamilyYour family packed you lunch. The note said, “Eat properly.”
46. 6/24 · Server bill spikeThe free cloud credits ran out. From this month the bill is the real number.
47. 7/2028: what now?Keep going — Spread the word through communities and content — 20 new customers this month. Among the new names were people last month’s customers had sent.
48. This time you sell the courseWalk away — The agency probably sent the same pitch to another owner the next day. You opened the books again.
49. 8/25 · Patent warning letterA certified letter arrived claiming possible patent infringement. A lawyer needs to review it.
50. 8/28 · A competitor movedA company solving the same problem announced a funding round. Nobody in the comments mentioned you.
51. 9/2028: what now?Keep going — Spread the word through communities and content — 30 new customers this month. While the number climbs, it looks like a company.
52. 9/4 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
53. 9/22 · Your mentorLunch with an old mentor. “Forget the numbers. Are you sleeping?”
54. 10/2028: what now?Keep going — Spread the word through communities and content — 34 new customers this month. A post drew questions, and the questions turned into sign-ups.
55. Do you pivot?Partial pivot — You kept half the product and threw away half. The half you threw away hurt more.
56. A Competitor Copied YouA competitor duplicated your landing page and features almost exactly. The parts you can contest legally are fewer than you expected. The market remembers who does it well more than who did it first.
57. Year 2 closeRevenue ₩4,539,998, loss ₩6,997,819. Cash ₩6,431,696.
58. 2028 · year 3 beginsInvestor Meeting
59. 11/3 · Funding costs rose againThe US 10-year yield rose to 6.93%. Investors recalculated valuations, and the bank asked for more collateral.
60. 11/14 · Service outageAn alert at 3 a.m.: the disk was full. Fixed before morning; nobody noticed.
61. AI redrew the marketAI tools changed the industry’s cost and speed. Companies that adopted them move cheap and fast; the rest pay twice for the same customer.
62. 12/2028: what now?Keep going — Spread the word through communities and content — 9 new customers this month. Among the new names were people last month’s customers had sent.
63. 12/3 · FamilyYour family packed you lunch. The note said, “Eat properly.”
64. 1/2029: what now?Keep going — Spread the word through communities and content — 16 new customers this month. While the number climbs, it looks like a company.
65. 1/5 · Security vulnerabilityAn outside researcher reported a vulnerability. You have to check whether personal data leaked.
66. The competitor made it freePropose a partnership — You partnered with the competitor. They used your feature, and you got their customers. Dependence is convenient and dangerous.
67. 2/7 · Overseas orders came backGlobal growth rose to 4.3%. An overseas partner was the first to ask about next quarter’s volume.
68. 3/2029: what now?Keep going — Spread the word through communities and content — 32 new customers this month. A post drew questions, and the questions turned into sign-ups.
69. 3/13 · Personal data requestA customer asked for disclosure and deletion of their personal data. You checked the procedure again.
70. 3/16 · Down sickA sore throat and a fever. You got through the day in a mask.
71. 4/2029: what now?Keep going — Spread the word through communities and content — 6 new customers this month. Among the new names were people last month’s customers had sent.
72. 4/10 · Patent warning letterA certified letter arrived claiming possible patent infringement. A lawyer needs to review it.
73. 4/21 · Covered in an articleAn industry outlet wrote about the product. Sign-up inquiries rose a little.
74. “We just need your name on it”Send them away — They left a card: “Call if you change your mind.” There was no company name on it.
75. 5/28 · Funding costs rose againThe US 10-year yield rose to 6.93%. Investors recalculated valuations, and the bank asked for more collateral.
76. 6/2029: what now?Keep going — Spread the word through communities and content — 33 new customers this month. While the number climbs, it looks like a company.
77. 6/18 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
78. 6/24 · Service outageRight after the deploy, login broke. Restored in forty minutes, but customer messages flooded in.
79. 7/2029: what now?Keep going — Spread the word through communities and content — 22 new customers this month. A post drew questions, and the questions turned into sign-ups.
80. 7/15 · HeatwaveA heat warning. The air conditioning ran all day. The electricity bill is on your mind.
81. How to split equity with a cofounderDo it alone — You decided to carry on alone. Decisions came fast; nights ran long.
82. 8/17 · FamilyYour family packed you lunch. The note said, “Eat properly.”
83. 9/2029: what now?Keep going — Spread the word through communities and content — 9 new customers this month. Among the new names were people last month’s customers had sent.
84. 9/13 · A competitor movedA company solving the same problem announced a funding round. Nobody in the comments mentioned you.
85. 10/2029: what now?Keep going — Spread the word through communities and content — 15 new customers this month. While the number climbs, it looks like a company.
86. 10/15 · Overseas orders came backGlobal growth rose to 4.3%. An overseas partner was the first to ask about next quarter’s volume.
87. 10/25 · Server bill spikeA test server you forgot to switch off had been running all month.
88. Priorities for the next three monthsImprove quality — You reread the complaint log from the start and fixed the most common one this month.
89. Investor MeetingAn investor who said they were interested booked a meeting. The questions were sharp. "Why this market, why now?" You gave the answer you had prepared for 30 minutes, and the investor nodded.
90. Year 3 closeRevenue ₩6,912,118, loss ₩749,111. Your salary put in ₩2,400,000; cash ₩7,622,585.
91. 2029 · year 4 beginsGlobal Energy Prices Surged
92. 11/26 · Your mentorLunch with an old mentor. “Forget the numbers. Are you sleeping?”
93. 12/2029: what now?Keep going — Spread the word through communities and content — 28 new customers this month. A post drew questions, and the questions turned into sign-ups.
94. 12/14 · Service outageThe payment processor went down for two hours. Not your fault, but you wrote the apology.
95. 1/2030: what now?Keep going — Spread the word through communities and content — 21 new customers this month. Among the new names were people last month’s customers had sent.
96. 1/10 · Patent warning letterA certified letter arrived claiming possible patent infringement. A lawyer needs to review it.
97. An acquisition offer came inSell only part of the equity — You sold 10% of the equity. The company stayed the same, and the account got a little thicker. You put the money into the product.
98. 2/6 · Down sickA sore throat and a fever. You got through the day in a mask.
99. 3/2030: what now?Keep going — Spread the word through communities and content — 27 new customers this month. While the number climbs, it looks like a company.
100. 3/4 · Covered in an articleAn industry outlet wrote about the product. Sign-up inquiries rose a little.
101. 4/2030: what now?Keep going — Spread the word through communities and content — 38 new customers this month. A post drew questions, and the questions turned into sign-ups.
102. Priorities for the next three monthsGrow revenue — You spent on ads and sales. Inquiries went up. The close rate was lower than you expected.
103. 5/18 · Server bill spikeThe free cloud credits ran out. From this month the bill is the real number.
104. 5/27 · A competitor movedA company solving the same problem announced a funding round. Nobody in the comments mentioned you.
105. 6/2030: what now?Keep going — Spread the word through communities and content — 31 new customers this month. Among the new names were people last month’s customers had sent.
106. 6/26 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
107. 7/2030: what now?Keep going — Spread the word through communities and content — 38 new customers this month. While the number climbs, it looks like a company.
108. 7/8 · HeatwaveA heat warning. The air conditioning ran all day. The electricity bill is on your mind.
109. 8/6 · Personal data requestA customer asked for disclosure and deletion of their personal data. You checked the procedure again.
110. 8/10 · Down sickYou came down with something. You took medicine and pushed through, but could not concentrate.
111. 9/2030: what now?Keep going — Spread the word through communities and content — 40 new customers this month. A post drew questions, and the questions turned into sign-ups.
112. 9/29 · Funding costs rose againThe US 10-year yield rose to 6.33%. Investors recalculated valuations, and the bank asked for more collateral.
113. 10/2030: what now?Keep going — Spread the word through communities and content — 30 new customers this month. Among the new names were people last month’s customers had sent.
114. 10/11 · Covered in an articleAn industry outlet wrote about the product. Sign-up inquiries rose a little.
115. Priorities for the next three monthsTake care of people — You met an old friend and did not talk about work. The way home felt lighter.
116. Global Energy Prices SurgedTension in the Middle East pushed international crude prices up. Ships loaded with oil could not pass, and freight and packaging costs rose with them. A war in the news became a number on next month's cost sheet.
117. Year 4 closeRevenue ₩11,830,798, operating profit ₩1,251,205. Cash ₩28,773,790.
118. 2030 · year 5 beginsRates Rose
119. 11/7 · Your mentorLunch with an old mentor. “Forget the numbers. Are you sleeping?”
120. 11/25 · Service outageThe payment processor went down for two hours. Not your fault, but you wrote the apology.
121. 12/2030: what now?Keep going — Spread the word through communities and content — 18 new customers this month. While the number climbs, it looks like a company.
122. 12/20 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
123. 1/2031: what now?Keep going — Spread the word through communities and content — 20 new customers this month. A post drew questions, and the questions turned into sign-ups.
124. 1/19 · A competitor movedA competitor shipped the feature you were preparing, first. Their price is lower.
125. 2/19 · Security vulnerabilityAn outside researcher reported a vulnerability. You have to check whether personal data leaked.
126. 2/27 · FamilyYour family packed you lunch. The note said, “Eat properly.”
127. 3/2031: what now?Keep going — Spread the word through communities and content — 18 new customers this month. Among the new names were people last month’s customers had sent.
128. 4/2031: what now?Keep going — Spread the word through communities and content — 32 new customers this month. While the number climbs, it looks like a company.
129. 4/28 · Covered in an articleAn industry outlet wrote about the product. Sign-up inquiries rose a little.
130. Priorities for the next three monthsCut costs — You canceled subscriptions, cut what you could do without, and turned off the lights you did not need. The account got a little thicker, and the place got a little darker.
131. 5/11 · Server bill spikeThe free cloud credits ran out. From this month the bill is the real number.
132. 5/13 · Personal data requestA customer asked for disclosure and deletion of their personal data. You checked the procedure again.
133. 6/2031: what now?Keep going — Spread the word through communities and content — 17 new customers this month. A post drew questions, and the questions turned into sign-ups.
134. 6/22 · Overseas orders came backGlobal growth rose to 4.3%. An overseas partner was the first to ask about next quarter’s volume.
135. 7/2031: what now?Keep going — Spread the word through communities and content — 14 new customers this month. Among the new names were people last month’s customers had sent.
136. 7/8 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
137. 7/24 · Down sickA sore throat and a fever. You got through the day in a mask.
138. 8/6 · Patent warning letterA certified letter arrived claiming possible patent infringement. A lawyer needs to review it.
139. 9/2031: what now?Keep going — Spread the word through communities and content — 29 new customers this month. While the number climbs, it looks like a company.
140. 10/2031: what now?Keep going — Spread the word through communities and content — 32 new customers this month. A post drew questions, and the questions turned into sign-ups.
141. 10/7 · Your mentorLunch with an old mentor. “Forget the numbers. Are you sleeping?”
142. 10/10 · Security vulnerabilityAn outside researcher reported a vulnerability. You have to check whether personal data leaked.
143. Priorities for the next three monthsImprove quality — You fixed the small annoyances one by one. Customers did not mention the change, but they came back.
144. Rates RoseMarket rates rose. Variable-rate loans cost more, and so does any new borrowing. More people stood at bank counters tapping calculators.
145. Year 5 closeRevenue ₩19,103,088, operating profit ₩6,416,697. Cash ₩37,130,487.
146. 2031 · year 6 beginsThe Tech Investment Cycle Came Back
147. 11/18 · Service outageRight after the deploy, login broke. Restored in forty minutes, but customer messages flooded in.
148. 12/2031: what now?Keep going — Spread the word through communities and content — 32 new customers this month. Among the new names were people last month’s customers had sent.
149. 1/2032: what now?Keep going — Spread the word through communities and content — 13 new customers this month. While the number climbs, it looks like a company.
150. 1/14 · FamilyYour family packed you lunch. The note said, “Eat properly.”
151. 1/26 · Covered in an articleAn industry outlet wrote about the product. Sign-up inquiries rose a little.
152. Location-data business not filedRemove the location feature — You removed the map screen. A review now says “the old version was better”.
153. 2/20 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
154. 2/22 · Down sickYou came down with something. You took medicine and pushed through, but could not concentrate.
155. 3/2032: what now?Keep going — Spread the word through communities and content — 22 new customers this month. A post drew questions, and the questions turned into sign-ups.
156. 3/16 · Overseas orders came backGlobal growth rose to 4.3%. An overseas partner was the first to ask about next quarter’s volume.
157. 4/2032: what now?Keep going — Spread the word through communities and content — 30 new customers this month. Among the new names were people last month’s customers had sent.
158. 4/20 · Server bill spikeThe free cloud credits ran out. From this month the bill is the real number.
159. Priorities for the next three monthsCut costs — You ended a lease on equipment nobody used. The monthly outgoings felt a little lighter.
160. 6/2032: what now?Keep going — Spread the word through communities and content — 21 new customers this month. While the number climbs, it looks like a company.
161. 6/15 · Security vulnerabilityAn outside researcher reported a vulnerability. You have to check whether personal data leaked.
162. 7/2032: what now?Keep going — Spread the word through communities and content — 20 new customers this month. A post drew questions, and the questions turned into sign-ups.
163. 7/18 · Service outageAn alert at 3 a.m.: the disk was full. Fixed before morning; nobody noticed.
164. 9/2032: what now?Keep going — Spread the word through communities and content — 32 new customers this month. Among the new names were people last month’s customers had sent.
165. 9/10 · Patent warning letterA certified letter arrived claiming possible patent infringement. A lawyer needs to review it.
166. 10/2032: what now?Keep going — Spread the word through communities and content — 39 new customers this month. While the number climbs, it looks like a company.
167. 10/11 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
168. Priorities for the next three monthsCut costs — You canceled subscriptions, cut what you could do without, and turned off the lights you did not need. The account got a little thicker, and the place got a little darker.
169. The Tech Investment Cycle Came BackSpending on AI infrastructure and software increased, and chip and IT export figures improved. Even with recession talk everywhere, only technology budgets were moving in another direction.
170. Year 6 closeRevenue ₩24,469,779, operating profit ₩11,413,138. Cash ₩48,483,624.
171. 2032 · year 7 beginsYou Found a Mentor · A Big Company Launched It for Free
172. 11/14 · Server bill spikeA test server you forgot to switch off had been running all month.
173. 12/2032: what now?Keep going — Spread the word through communities and content — 15 new customers this month. A post drew questions, and the questions turned into sign-ups.
174. 12/25 · Funding costs rose againThe US 10-year yield rose to 5.67%. Investors recalculated valuations, and the bank asked for more collateral.
175. 1/2033: what now?Keep going — Spread the word through communities and content — 36 new customers this month. Among the new names were people last month’s customers had sent.
176. 1/21 · A competitor movedA big company bolted a similar feature onto its product, free. More customers now ask, “How are you different?”
177. 2/12 · Service outageAn alert at 3 a.m.: the disk was full. Fixed before morning; nobody noticed.
178. 2/23 · Down sickA sore throat and a fever. You got through the day in a mask.
179. 3/2033: what now?Keep going — Spread the word through communities and content — 23 new customers this month. While the number climbs, it looks like a company.
180. 3/24 · Security vulnerabilityAn outside researcher reported a vulnerability. You have to check whether personal data leaked.
181. 4/2033: what now?Keep going — Spread the word through communities and content — 38 new customers this month. A post drew questions, and the questions turned into sign-ups.
182. 4/9 · Your mentorAn old mentor called. “What scares you most right now?” they asked.
183. 4/10 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
184. 4/3 · A parent collapsedThe call came: your father had collapsed. In the hospital corridor you rewrote the week.
185. Who will care for your father?Share it with siblings — Everyone had their reasons. In the end most of it fell to you.
186. Priorities for the next three monthsGrow revenue — You spent on ads and sales. Inquiries went up. The close rate was lower than you expected.
187. 5/25 · FamilyYou talked with your family for a long time. Someone said, “You come before the money.”
188. 6/2033: what now?Keep going — Spread the word through communities and content — 40 new customers this month. Among the new names were people last month’s customers had sent.
189. 6/19 · Funding costs rose againThe US 10-year yield rose to 5.67%. Investors recalculated valuations, and the bank asked for more collateral.
190. The company is alive but not growingPivot — You pivoted to «Webtoon studio» and apologised to the customers who stayed.
191. 8/2033: what now?Keep building — What you built today, you fixed tomorrow. Progress still went up.
192. 8/30 · A competitor movedA competitor shipped the feature you were preparing, first. Their price is lower.
193. 9/2033: what now?Keep building — You crossed three lines off the list. Two new ones appeared.
194. 9/3 · Overseas orders came backGlobal growth rose to 4.0%. An overseas partner was the first to ask about next quarter’s volume.
195. 10/2033: what now?Quit your job — You quit. The next morning, not having to go to work felt strange.
196. 10/28 · Down sickYou came down with something. You took medicine and pushed through, but could not concentrate.
197. 10/2033: what now?Launch — You pressed launch. 187 sign-ups on day one. You refreshed ten times.
198. You Found a MentorAn industry senior offered to buy coffee. He told you, "I went under back then because I did not know this." Advice is free, but listening takes humility.
199. A Big Company Launched It for FreeA large company started giving away a similar feature for free. Sales says to cut the price; engineering says your product is better. Customers are listening to neither.
200. Year 7 closeRevenue ₩14,544,432, operating profit ₩1,931,500. Cash ₩48,665,124.

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