Completed Fundraising through Paid-in Capital Increase and Convertible Bonds
Targeting Global Market with Establishment of US Branch
Aggressive Investment Plans for New Game Services and Developers
Launching New Business in Camping Car Rental
[Asia Economy Reporter Jang Hyowon] NesM (CEO Shin Hyunjong) announced on the 18th that it has completed payment of 20.3 billion KRW, exceeding 50% of the 40 billion KRW convertible bonds (CB) for the 1st, 2nd, and 3rd rounds.
NesM explained that after the paid-in capital increase of 9.6 billion KRW from Cowon Holdings on the 10th, the payment of the CB this time will accelerate the promotion of new business.
NesM is actively targeting the global game market, led by "Anger of Stick 5," which has recorded over 200 million downloads. Recently, it added eight games developed by Bread Hammer to its service lineup, providing 19 mobile games through Google and Apple's game platforms.
A NesM official said, "To further strengthen our game lineup, we are preparing to launch a role-playing game (RPG) service in the first half of next year, and we are also actively considering investments in capable developers. Amid the COVID-19 pandemic, where gatherings and travel are difficult, we are also newly conducting a rental business for camping cars, which can be an alternative for untact travel."
Additionally, Cowon System, a subsidiary of NesM, launched a new brand called "air#" based on mask-related technology patents and design patents prepared to prevent yellow dust and fine dust even before the COVID-19 outbreak.
They produce and sell disposable masks including KF94 and KF-AD, fashion masks, waterproof masks, filter-replaceable masks, smart fan masks, and Doosan Bears team masks among baseball team GOODS products. They have developed air shower equipment applying UV-LED technology proven to sterilize 99% of COVID-19 and a mist spraying method for skin solution certified by the Ministry of Food and Drug Safety for COVID-19 virus elimination, preparing for mass production.
Furthermore, to sustain growth and aggressively expand overseas, they established a U.S. branch and began directly distributing all products including "air#" masks, Bluetooth earphones, and various electronic devices through the branch. They are expanding sales channels by completing entry into the world's largest shopping malls, Walmart and Amazon.
A NesM official added, "Operating profit from the game business accumulated to 2 billion KRW by the third quarter, a 426.5% increase compared to the same period last year, and with this funding, we will accelerate expansion in the global game market along with new businesses."
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