diff --git a/bots/converters/blog_converter.py b/bots/converters/blog_converter.py
index 4c4cdd2..3e5efab 100644
--- a/bots/converters/blog_converter.py
+++ b/bots/converters/blog_converter.py
@@ -96,10 +96,16 @@ def build_full_html(article: dict, body_html: str, toc_html: str,
     json_ld = build_json_ld(article, post_url)
     disclaimer = article.get('disclaimer', '')
     parts = [json_ld]
-    # 목차: h2가 3개 이상인 긴 글에서만 표시
+    # 목차: h2가 3개 이상이고 TOC에 실제 링크가 있을 때만 표시
     h2_count = body_html.lower().count('<h2')
-    if toc_html and toc_html.strip() not in ('', '\n') and h2_count >= 3:
-        parts.append(f'<div class="toc-wrapper">{toc_html}</div>')
+    toc_has_links = toc_html and '<a ' in toc_html and h2_count >= 3
+    if toc_has_links:
+        import re as _re
+        m = _re.match(r'(<img\s[^>]*/>)\s*', body_html)
+        if m:
+            body_html = m.group(0) + f'<div class="toc-wrapper">{toc_html}</div>\n' + body_html[m.end():]
+        else:
+            parts.append(f'<div class="toc-wrapper">{toc_html}</div>')
     parts.append(body_html)
     if disclaimer:
         parts.append(f'<hr/><p class="disclaimer"><small>{disclaimer}</small></p>')
diff --git a/bots/publisher_bot.py b/bots/publisher_bot.py
index 6aefe3b..2a84f79 100644
--- a/bots/publisher_bot.py
+++ b/bots/publisher_bot.py
@@ -376,6 +376,16 @@ def fetch_featured_image(article: dict) -> str:
     return ''
 
 
+def _insert_toc_after_image(body_html: str, toc_block: str) -> str:
+    """본문에 대표이미지가 있으면 이미지 뒤에, 없으면 맨 앞에 TOC 삽입"""
+    import re as _re
+    # 본문 시작이 <img 태그이면 그 뒤에 삽입
+    m = _re.match(r'(<img\s[^>]*/>)\s*', body_html)
+    if m:
+        return m.group(0) + toc_block + body_html[m.end():]
+    return toc_block + body_html
+
+
 def build_full_html(article: dict, body_html: str, toc_html: str) -> str:
     """최종 HTML 조합: 대표이미지 + JSON-LD + 목차 + 본문 + 면책 문구"""
     json_ld = build_json_ld(article)
@@ -399,10 +409,13 @@ def build_full_html(article: dict, body_html: str, toc_html: str) -> str:
             body_html = img_tag + '\n' + body_html
 
     html_parts.append(json_ld)
-    # 목차: h2가 3개 이상인 긴 글에서만 표시
+    # 목차: h2가 3개 이상이고 TOC에 실제 링크가 있을 때만 표시
     h2_count = body_html.lower().count('<h2')
-    if toc_html and toc_html.strip() not in ('', '\n') and h2_count >= 3:
-        html_parts.append(f'<div class="toc-wrapper">{toc_html}</div>')
+    toc_has_links = toc_html and '<a ' in toc_html and h2_count >= 3
+    if toc_has_links:
+        # 이미지 뒤, 본문 앞에 목차 삽입
+        toc_block = f'<div class="toc-wrapper">{toc_html}</div>\n'
+        body_html = _insert_toc_after_image(body_html, toc_block)
     html_parts.append(body_html)
 
     # 원문 출처 링크