Nexon Establishes Two Game Development Companies with Heo Min, the Father of 'Dungeon & Fighter'

[Asia Economy Reporter Buaeri] Nexon announced on the 23rd that it will establish two game development companies as joint ventures in partnership with Heo Min, CEO of Wonder Holdings and developer of 'Dungeon & Fighter.'

In the newly established joint venture, both companies will hold equal shares of 50% each. Kim Dong-geon, General Producer of Nexon Devcat Studio, and Park Hoon, Senior Director of the KartRider development team, have been appointed as the inaugural CEOs of the joint venture. CEO Heo will serve as the overall producer of the entire project.

The new companies will include the development team for the upcoming Nexon title 'Mabinogi Mobile' and the 'KartRider IP (Intellectual Property) development team.' They plan to focus on development in an independent environment with the goal of successfully launching 'Mabinogi Mobile' and 'KartRider: Drift.'

Nexon and Wonder Holdings plan to maximize synergy by combining their respective development capabilities and business know-how, fostering a development culture that pursues originality and diversity.

The establishment of the new companies originated from CEO Heo’s advisory role in Nexon’s new game development discussions in the second half of last year. His positive contributions led to the creation of a separate corporation to achieve direct results. The new companies aim to become leading global developers representing Korea through the successful development of Mabinogi Mobile and KartRider: Drift.

Jungheon Lee, CEO of Nexon, said, "We have had various discussions with CEO Heo for new challenges, and the establishment of this joint venture is a meaningful outcome in that context," adding, "We expect 'Mabinogi Mobile' and 'KartRider: Drift' to be developed into games recognized in the global market."

CEO Heo stated, "While working as an advisor to Nexon, I saw great potential in the new titles being developed," and added, "I will do my best to successfully launch these new titles and help the joint venture grow."

Meanwhile, Nexon formed a strategic partnership with Wonder Holdings in September last year and recruited CEO Heo as an external advisor. CEO Heo founded Neople and developed the global hit 'Dungeon & Fighter,' later founding WEMAKEPRICE. He is also recognized for his extensive experience and insight in game development, having led game development as general producer at AceStom and Wonder People.