[Asia Economy Reporter Hyunseok Yoo] Longtu Korea, a mobile game specialized publisher, announced on the 17th that its consolidated financial statements showed first-quarter sales of 10.7 billion KRW, a 69.6% increase compared to the same period last year. Operating loss for the same period was 200 million KRW, narrowing the deficit compared to the previous year.
The growth in Longtu Korea's performance is attributed to increased sales from the continued success of mobile games "Yong-ui Giwon," "Kairos," and "Tanseong," which have been in service since last year.
The MMORPG "Kairos," officially launched in May last year, is a hit title that gathered 1 million pre-registrations even before its release. Even about a year after its official launch, it continues to maintain popularity, significantly contributing to Longtu Korea's performance growth.
Starting with this year's first new release "Mighty Arena," launched last month, Longtu Korea aims to achieve its highest annual performance by releasing multiple mobile games.
A company official stated, "We plan to release an additional fantasy-style casual MMORPG new game within the first half of the year," and added, "Considering this year's expected performance, we believe the current stock price is undervalued, and we are conducting share buybacks to enhance shareholder value."
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