South Korean publisher Bookjournalism closes after 10 years, citing AI and competition

Bookjournalism, a South Korean digital content publisher known for its in-depth articles on timely topics, has announced it will cease operations at the end of April due to financial struggles. The company, which launched in 2017 with the slogan "As deep as a book, as fast as news," aimed to provide content that was both timely and deeply explored, producing over 170 print titles and 2,500 digital pieces across various fields.

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As deep as a book, as fast as news.

Lee Yeon-dae, CEO of Bookjournalism, stated that the closure was not due to a lack of market interest in long-form content, but rather an oversaturation of high-quality content and the diminishing value of unique insights due to the rise of AI. He explained that while readers enjoyed their content and recommended it, he questions if it was "sufficiently high-quality" to survive in the evolving digital landscape. "When I ask myself if our content was as engaging as a Netflix documentary or as readable as a Stephen King novel, or if it felt like listening to a podcast host directly, I realize there were shortcomings," Lee said.

Lee was inspired to start Bookjournalism after observing the long-form content market in English-speaking countries, citing The Economist's "Special Reports" and The Guardian's "Long Reads" as examples of content that offered "the realization of reading a whole book" in a much shorter format. He believed there was a similar demand in Korea for media that provided rich contextual explanations beyond just listing facts. The company's 30,000 cumulative subscribers, primarily journalists, marketers, writers, and startup employees aged 25-39, paid 13,500 won monthly for the service, indicating a strong intellectual curiosity.

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We are proud of the content we published. Readers really liked our content and recommended it to others. But we have to reflect on whether it was 'sufficiently high-quality' to survive in a changing era. We wonder if the 'high-quality' content we created was only valid until the early 2020s. From the reader's perspective, they subscribe to Netflix, YouTube Premium, Millie's Library, The Economist, etc. When I ask myself if (Bookjournalism) was as engaging as a Netflix documentary, or as readable as a Stephen King novel, or if it felt like listening to a podcast host directly, I realize there were shortcomings.

However, the competitive landscape shifted dramatically in the early 2020s with experts increasingly launching their own personal channels and publishing content directly. Lee noted that platforms like Substack, where economist Paul Krugman charges $7, made high-quality content more accessible. This, coupled with a significant slowdown in venture capital funding since 2022, made it difficult to sustain the company with its 10-plus employees. The emergence of AI further solidified his belief that the business was on the wrong path, as AI could easily replicate the contextual analysis and unique perspectives that Bookjournalism specialized in.

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There was the realization of reading a whole book in a much shorter format.

Lee now believes the value of long-form writing lies not in its function as a knowledge repository, but as a "training ground for thought." He argues that AI provides conclusions without the reasoning process, whereas good writing guides readers through a thought process to reach a conclusion. "AI might provide a satisfactory conclusion right away, but it skips the reasoning behind it," he said. He envisions a future where long-form articles, at least 50 pages, will become even more valuable for their ability to foster this kind of intellectual development. He aims to create writing that challenges readers and expands their thinking, rather than simply being easy to read. Lee plans to continue working in the knowledge content sector, exploring different approaches.

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AI might provide a satisfactory conclusion right away, but it skips the reasoning behind it.