The two Korean MMO giants NCSoft (Guild Wars 2, WildStar) and Nexon (Maplestory) have a problem with each other. This was evident again at an NCSoft shareholder meeting.
Nexon (Atlantica Online, Maplestory, Vindictus) is not a big name from our western perspective, but in Korea it is the market leader. NCSoft, on the other hand, is known to us with Guild Wars 2 and WildStar, while in Korea, despite having the incredibly popular Lineage franchise, it plays a subordinate role in the concert of MMO giants.
Nexon is the largest shareholder in NCSoft and has recently attempted to gain greater control over the corporation. To defend against a possible takeover, NCSoft has acquired shares in the mobile game specialist NetMarble. This was again brought up at an NCSoft shareholder meeting.
There, Nexon representatives wanted to know why NCSoft acquired the shares in NetMarble at such a high price. They also mentioned that the NCSoft CEO had elevated his brother and his wife to high positions in the company without informing Nexon.
Kae-Tik-Jin, the CEO of NCSoft, was confirmed at the meeting for three more years as CEO of NCSoft and defended himself against Nexon’s attacks: NetMarble is a solid investment and worth the price. He agreed that it is unusual to promote family members, but stated that his brother and wife work hard. Both have already achieved successes that justify these promotions.
Nexon did not go so far as to vote against the renewal of Kae-Tik-Jin’s contract. However, they requested transparency and asked that important decisions be explained.
Investment firms tie the progress of this story to the financial success of NCSoft. In their view, this depends on a successful Guild Wars 2 add-on and a successful beta phase of Lineage Eternal.
