Krafton buys India’s Nautilus Mobile, fueling IP race in Korean game scene

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Krafton buys India’s Nautilus Mobile, fueling IP race in Korean game scene - Korea Economic Daily

Quick Summary:

Former co-CEO Kwon Young-sik, who led Netmarble’s gaming development business over the past decade, quit the job last week to focus on his leadership role in Netmarble Neo, Netmarble’s game development studio subsidiary famous for the popular game “Solo Leveling: ARISE.” Kwon will only maintain his CEO position at Netmarble Neo to accelerate its IP push, while Kim Byung-kyu will lead Netmarble as the sole CEO.

Krafton Inc., one of South Korea’s top four market-cap gaming firms, has taken over Indian game developer Nautilus Mobile for $14 million, upping the ante in a race against its local rivals -- Netmarble Corp., NCSoft Corp.and Nexon Co.-- to acquire promising intellectual properties.

Alongside co-CEO Lee Jung-hyun, Kang is credited for his outstanding leadership in ramping up the revenue of Nexon’s mainstay game franchises such as “Dungeon & Fighter,” “MapleStory” and “FC Online.”The three flagship games’ total revenue climbed 10% last year against the prior year.