A recent report reveals the top major events in the Korean game industry in 2022. On January 2, 2023, the Korea Game Association released this document.
1. Nexon founder Kim Jung-Ju passed away
On March 1, 2022, Nexon, the largest game company in Korea, confirmed that Nexon founder Kim Jung-Ju passed away in Hawaii, USA on February 28, at the age of 54. After the incident, Korean Internet and game industry organizations, even NCSoft, expressed their condolences, sending condolences to the bereaved family. This news immediately caught the attention of the community even for former South Korean President Moon Jae-in.
In early September, Kim Jung-Ju’s stock inheritance procedure was completed. The wife of the late CEO and supervisor of Nexon Corp and two children will inherit a total of 196,000 shares of NXC after paying real estate taxes in installments.
2. Wemix is delisted
On November 24, Wemade’s blockchain gaming platform Wemix was requested to delist from DAXA, a Korean digital asset exchange consulting agency.
The reasons given by DAXA are that Wemade’s announced circulation of Wemix is seriously untrue, the information provided to investors is incomplete, the data submitted during the explanation period is incorrect. Body and trust have been damaged. Although Wemade immediately reacted to the decision, on December 7, a Korean court blocked the transaction.
At 3:00 pm on December 8, Wemix was delisted from the Korean exchange as previously reported. After receiving the delisting notice, Wemix, which was previously trading at around 2,200 won, plummeted more than 70% to 600. Then, when the delisting was confirmed on December 7th, Wemix’s price has been reduced to 200 won.
3. Amendment of game rules
The content of this revised law is mandatory disclosure of game item information. As the current President of South Korea Yoon Suk-yeol, before taking office, made an important promise in the gaming industry that requires game companies to fully disclose information about games with gacha elements so that the public can directly monitor the unfair behavior of game companies. Over the past year, the issue has become a topic of discussion in the Korean game industry.
On December 20, the Korean Ministry of Culture held a meeting to consider the amended Game Law, requesting public information about probability items in the game, but it was not approved. According to reports by Korean media, the Korean Culture, Sports and Tourism Commission plans to re-discuss the amendment of the game rules as a top priority.
4. Korean players protest Kakao Games
As the most popular game in Korea in the summer of 2022, Uma Musume: Pretty Derby released by Kakao Games has angered Korean players because of the delay in confirming the new PvP event Championship Club by two months. after the game is released. Gamers expressed dissatisfaction with this delay.
Right on the morning of August 29, in Seongnam city, Gyeonggi-do province (province), South Korea, the cast of Uma Musume: Pretty Derby players rented a car to parade through the streets with a 1-star rating plate for this game in advance. chest with the words “irresponsible company” refers to Kakao Games. After the incident, Kakao’s stock price plummeted three times in a month, down 12.8%. The management team of Kakao Games also had to send the director of the sales department and five other executives of the company to organize a clear explanation of the problem in order to appease the players.
5. Korea’s biggest G-Star game event returns after 2 years
After two years because of the epidemic, Korea’s largest game exhibition G-Star has officially returned to be held offline and opened at BEXCO center in Busan, Korea on November 17, according to data from the association. The Korean Game Industry, the organizer of G-Star, in 2022, there are 987 companies from 43 countries around the world participating in the exhibition. The number of booths reached 2947, more than double from last year.
This year’s G-Star also attracted more than 180,000 attendees, although not as high as the 240,000 people of G-Star in 2019, it was 6 times higher than the number of G-Star participants in 2021.