[Asia Economy Reporter Buaeri] Neptune announced on the 18th that it has secured an investment of 193.5 billion KRW from Kakao Games.
The investment will be made through a third-party allotment paid-in capital increase, with 7,515,336 new common shares issued. Kakao Games will hold 31.66% of Neptune's shares, becoming the largest single shareholder.
The funds will be used for strategic business partnerships, development of new games, investment in related industries, and operating capital to achieve the company's management objectives.
Neptune and Kakao Games have solidified their business partnership, starting with the developer and publisher (service and distribution) relationship for mobile games utilizing the 'Kakao Friends' intellectual property (IP).
Kakao Games has highly valued Neptune's potential in new business areas such as e-sports and multi-channel networks (MCN), and has been making strategic investments in Neptune since early 2017.
Neptune's subsidiary Nimble Neuron recently launched the new PC game "Eternal Return: Black Survival," which has attracted market attention by surpassing 50,000 concurrent users. This investment is expected to further accelerate the success of "Eternal Return: Black Survival."
Namgoong Hoon, CEO of Kakao Games, stated, "Neptune is expected to secure growth momentum and enhance market competitiveness not only through its recently visible achievements in the gaming business but also through new businesses such as e-sports, MCN, and artificial intelligence (AI) models."
Jung Wook, CEO of Neptune, said, "We will do our best to leverage the strengths of both companies to spread the wings for a great leap forward."
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