The paper focuses on Korean comics (manhwa) as a form of modern pop culture, an element of the Korean Wave (Hallyu) phenomenon. It considers the mechanisms of their development and widespread availability. The evolution of comics on a worldwide basis is presented; their features in the Internet space (webtoon genre) are identified. The term ‘Hallyu’ is used to describe the growing popularization of South Korean mass and entertainment culture. The author demonstrates the main stages of manhwa development against the background of the early 20th-century events in the Korean Peninsula. The research analyzes the distinctive features of manhwa and highlights its new webtoon genre, which has changed the usual comic format thanks to the intensive use of digital technology. The research summarizes the government support measures of the comic industry and their relevance in the Republic of Korea. Besides, it describes both local and international theme-based exhibitions and festivals. The author proves the popularity of manhwa being a part of social interactions and a significant form of obscure popular culture of South Korea as well as its propagation within the Korean Wave.