[Bu-aeri's Game Dictionary] Why Is Only Netmarble Among the 3N Located in 'Guro'?

[Asia Economy Reporter Buaeri] Recently, Kim Taek-jin, CEO of NCSoft, submitted a letter of intent for a project in the form of a consortium on a site worth 800 billion KRW near Seongnam Pangyo District Office, drawing public attention to the expansion of headquarters of the three major domestic game companies known as 3N (NCSoft, Nexon, Netmarble). NCSoft, which settled in Pangyo during the early days of Pangyo Techno Valley, has gradually become a key player in the area. Netmarble is the only one among the 3N located in Guro, Seoul.

◆ NCSoft and Nexon Moving to Pangyo=The familiar image of Pangyo Techno Valley began to take shape starting in 2013. NCSoft completed its R&D center, a building with 5 underground floors and 12 above ground, in 2013. Over 2,300 employees who were previously based in Samseong-dong, Seoul, gradually relocated to Pangyo. Nexon also built a new headquarters consisting of 15 floors from 5 underground to 10 above ground around the same time and moved to Pangyo, bidding farewell to its long-time home in Hamyangjae Building, Yeoksam-dong, Seoul.

The relocation of game companies’ headquarters to Pangyo was partly influenced by the government’s plan in the late 2000s to develop Pangyo Techno Valley. Game companies that started as venture startups in Gangnam mostly rented buildings at that time. As the government announced plans to develop a Korean-style Silicon Valley, many companies showed interest, and IT companies gradually gathered in Pangyo Techno Valley, attracted by the availability of larger land at lower prices compared to Seoul.

An NCSoft official explained, "At that time, the Samseong-dong office was overcrowded, and employees were scattered. Not only NCSoft but most companies were motivated by the government’s opportunity to build headquarters in the spacious area of Pangyo." He added, "Since Pangyo is close to Gangnam and has good surrounding infrastructure, it became a place where talent gathered."

Netmarble New Headquarters Rendering

◆ Chairman Bang Jun-hyuk’s 'Love for Guro'=Among the 3N, Netmarble is the only company that established its base in Guro. Netmarble currently uses a leased office in Guro-gu, Seoul. The company is constructing a new headquarters with an investment of 420 billion KRW, consisting of 7 underground floors and 39 above ground floors.

Netmarble’s decision to establish its base in Guro, unlike NCSoft and Nexon, is largely attributed to the role of Chairman Bang Jun-hyuk. Bang has a deep connection with Guro, having spent his childhood in Garibong-dong, Guro-gu, Seoul.

Moreover, after Netmarble settled in Guro, the company’s business prospered, giving the location even more special significance. Netmarble briefly settled in Sangam in 2009, but after Chairman Bang, who had stepped down for health reasons, returned in 2012, the company re-established its base in Guro. Since then, Netmarble has thrived.

Mobile hits such as "Everyone’s ChaChaCha," "Everyone’s Marble," and "Monster Taming" followed, and in 2014, the company received a $500 million investment from China’s Tencent. Subsequently, games utilizing external intellectual property (IP) such as "Lineage 2 Revolution" and "Marvel Future Fight" achieved successive successes, and in 2017, Netmarble was listed on the Korea Composite Stock Price Index (KOSPI).

At the signing ceremony for the G Square office building business agreement, Chairman Bang said, "Building this headquarters to create a mecca for advanced IT industries, not only for Netmarble but also for the local community, is deeply meaningful. G Square is a significant development project, and I believe it is an opportunity for good coexistence in the neighborhood where I grew up."