Smilegate's Revenue Hits 1.0073 Trillion Won Last Year... First Time Since Establishment

[Asia Economy Reporter Buaeri] Smilegate has surpassed annual sales of 1 trillion won for the first time since its founding.

Smilegate announced on the 13th through its audit report that it recorded sales of 1.0073 trillion won and an operating profit of 364.6 billion won last year. These figures represent increases of 14% and 26%, respectively, compared to 2019.

Smilegate's performance in overseas markets was particularly remarkable. Last year's overseas game sales amounted to 843 billion won, accounting for 83.7% of total sales. This marks a 21% growth compared to the previous year, driven by the global success of Crossfire, Lost Ark, and Epic Seven.

Smilegate continues its efforts to expand its intellectual property (IP). It signed a distribution agreement with Sony Pictures for the Crossfire movie, officially entering the Hollywood market. In July last year, it aired the e-sports drama "Cheonwolhwaseon" in China, which recorded 1.8 billion views.

Through the recently established Smilegate Realize, Smilegate plans to discover and secure various new IPs and enter the cultural industry utilizing these IPs. Additionally, it expressed ambitions to target the console market and aim for the highest number of Game of The Year (GOTY) awards.

Sung Junho, CEO of Smilegate Holdings, stated, "This year, we will make greater efforts to ensure that our main IPs such as Crossfire, Lost Ark, and Epic Seven become beloved IPs in both domestic and international markets with richer content. Starting with Crossfire X, we will strive to continue new challenges with high-quality works."