[Featured Stock] Mgame Gains Strength Highlighted by VR Games Amid Metaverse Boom

[Asia Economy Reporter Hyunseok Yoo] Mgame is showing strong performance. With the game company Roblox scheduled to be listed on the New York Stock Exchange on the 10th, interest in the metaverse is growing.

As of 1:32 PM on the 3rd, Mgame was trading at 7,920 KRW, up 13.14% (920 KRW) compared to the previous trading day.

Based on consolidated financials last year, Mgame achieved sales of 42.4 billion KRW, operating profit of 11 billion KRW, and net profit of 6.9 billion KRW. Compared to the previous year, sales and operating profit increased by 12.7% and 52.4%, respectively. Operating profit has increased for eight consecutive quarters. It rose to the 10 billion KRW level for the first time in 12 years since 2008.

Mgame plans to release its flagship game, the mobile MMORPG "Jin Yeolhyeolgangho," which incorporates the gameplay and graphics of "Yeolhyeolgangho Online," into the mobile environment in Thailand and Vietnam from April through the summer season.

Additionally, in the first half of the year, Mgame will introduce its self-developed mechanic third-person shooting game (TPS game) "Battlesteed" (formerly Project X) through early access on the global game platform Steam. Alongside this, through IP partnerships, the company will also release its PC MMORPG "Droyan Online," currently under external development, as a mobile MMORPG within the first half of the year.

Kwon Ihyung, CEO of Mgame, stated, "This year, we will focus on discovering new revenue sources such as IP-based new titles like 'GwiHon' and 'Droyan Online,' new releases on Steam, and expanding publishing, while also strengthening live services for existing games both domestically and internationally."

Mgame will also actively pursue publishing services. The company plans to discover and launch at least one mobile game in both the first and second halves of the year. Beyond the gaming business, part of 'Mplay Park,' including a virtual reality (VR) theme park and a smart caf? using robots, located within Mgame’s research complex in Taean, Chungnam, is scheduled to open during the first half of the year.