SEOUL, Aug. 25 (Korea Bizwire) — South Korean gaming company Com2uS Corp. said Thursday it plans to launch a metaverse platform for consumers and enterprise clients, including SMEs, in 2024. The company announced its plans to open a beta service of its Com2Verse metaverse platform for a select number of enterprise clients next year and [...]
SEOUL, Aug. 3 (Korea Bizwire) — Kakao Games Corp., the gaming unit of South Korean tech giant Kakao Corp., said Wednesday its second-quarter net profit skyrocketed over 165 times from a year earlier thanks to the success of its blockbuster mobile title “Odin Valhalla Rising” and “Uma Musume Pretty Derby,” its latest Japanese licensed game [...]
SEOUL, July 1 (Korea Bizwire) — The culture minister on Friday pledged to lift the country’s strict regulations on the computer gaming industry, saying “games are not a disease.” Culture, Sports and Tourism Minister Park Bo-gyoon made the comment during a meeting with industry leaders at the Korea Association of Game Industry in southern Seoul. [...]
SEOUL, June 24 (Korea Bizwire) — South Korean game companies with products featuring virtual coins and other blockchain functionalities are taking a wait-and-see approach towards the recent plunge in the prices of cryptocurrencies operated by them for in-game purchases and trading. Wemix, a cryptocurrency operated by Wemade Co., the developer of the play-to-earn (P2E) game [...]
SEOUL, May 20 (Korea Bizwire) — China’s unprecedented restrictions on the gaming industry are turning the eyes of South Korean game developers to India, another country with a massive population. Data.ai reported that the Indian version of Krafton Inc.’s global smash hit “PUBG: Battlegrounds” has topped sales charts in Apple’s App Store and ranked second [...]
SEOUL, May 18 (Korea Bizwire) — South Korean game companies are increasingly setting their eyes on projects centered on virtual human character development, aimed at carving out new endeavors in non-gaming areas such as music and marketing sponsorships. Netmarble Corp. announced its plan to introduce its virtual character Rina, developed by its subsidiary Metaverse Entertainment [...]
SEOUL, May 16 (Korea Bizwire) — South Korean game companies with products featuring virtual coins and other blockchain functionalities remain on heightened alert over adverse effects from the recent collapse of the TerraUSD and Luna cryptocurrencies, industry officials said Monday. Cryptocurrencies operated by South Korean gaming companies for in-game purchases and trading have undergone volatile [...]
SEOUL, May 14 (Korea Bizwire) — NCSOFT Corp., a major South Korean online and mobile game developer, said Friday its first quarter net income more than doubled from a year earlier, led by strong sales from the latest entry of its popular “Lineage” franchise. It logged a net profit of 168.3 billion won (US$130.6 million) [...]
SEOUL, May 3 (Korea Bizwire) — Kakao Games Corp., the gaming unit of South Korean tech giant Kakao Corp., reported Tuesday its first-quarter net profit rose 54.2 percent on-year to 28.3 billion won (US$22.3 million) thanks to the popularity of its mobile title “Odin Valhalla Rising” and improved cost management. Operating profit spiked 169.7 percent [...]
SEOUL, March 14 (Korea Bizwire) — With Yoon Suk-yeol set to be South Korea’s next President, the nation’s video game industry is reacting with mixed expectations and concerns. During the presidential campaign, Yoon stressed that video games are not diseases, pledging that he would ease regulations to keep abreast with global trends. Accordingly, the video [...]