Netmarble Games and Nexon GT Merge Decision: "Leaping to Become a Major Developer"

[Asia Economy Reporter Kang Nahum] Nexon announced on the 16th that its development subsidiaries NetGames and Nexon GT will merge.

The merger of the two companies will be finalized after a shareholders' meeting on February 8 next year, with the merger date set for March 31 of the same year. The merger ratio is 1 to 1.0423647 (NetGames:Nexon GT), with NetGames as the surviving company. The new corporation will be tentatively named Nexon Games.

Through this merger, the two companies plan to combine the successful know-how and resources of each development entity to establish the best development environment aimed at multi-platforms such as PC, mobile, and console in the rapidly changing global game market. They also intend to build an integrated customer database and maximize the synergy effect of development capabilities to enhance global competitiveness.

The CEO of the newly merged Nexon Games is expected to be the current NetGames CEO Park Yonghyun, while Shin Jihwan, CEO of Nexon GT, will take on the role of a registered director. Lee Jeongheon, CEO of Nexon Korea, will also join the board of directors of Nexon Games to strengthen collaboration with Nexon Korea.

CEO Park stated, "Through the merger of the two companies, we will create new growth engines by developing creative new titles targeting the global market and discovering new platforms," adding, "We will spare no effort to actively support Nexon Games as it is reborn to continue bold innovation and challenges."