I know our companies cannot produce anime-like comics due to average people's overall underwhelming income, censorships, weak cultural capital and inheritance and overall conservative atmosphere. But i heard the webtoons and manwhas are 'famous' among niche fans and readers. True?

There was one Manhwa I read way back called Ares. It looked cool for awhile but the story got predictable and boring so I kinda dropped it. Cannot really say that the Manhwa represents all of the stuff coming out of Korea but they aren't really releasing new ones as fast as Mangas coming out of Japan.

I'd have to agree. I love my country dont get me wrong, but in comparison there really isn't much that pulls you in when compared to say the plethora of Manga's being pumped out of Japan. But like others I haven't really looked into to many recently so who knows.