Netmarble Holds Regular Shareholders' Meeting... "Will Showcase New Titles Based on Blockchain, Metaverse, and Other New Businesses"

Netmarble New Headquarters G-Tower

[Asia Economy Reporter Seungjin Lee] Netmarble announced on the 29th that it held the 11th regular general shareholders' meeting at the G-Tower Convention in Guro-gu, Seoul.

At the shareholders' meeting, Netmarble reported last year's key management performance, including consolidated financial statements showing sales of 2.5069 trillion KRW, operating profit of 151 billion KRW, and net profit of 249.2 billion KRW.

Kwon Young-sik, CEO of Netmarble, said in his greeting at the shareholders' meeting, "2021 was a more difficult year than ever due to the resurgence of COVID-19 variants, ongoing global lockdowns, and economic recession, which intensified uncertainties in corporate management." He added, "In particular, the game industry faced limitations in rapidly launching anticipated new titles due to delays caused by changes in the development environment from prolonged remote work."

CEO Kwon also stated, "We have been continuously making great efforts from a mid- to long-term perspective to fundamentally strengthen the competitiveness of our game business," and "We have devoted ourselves to diversifying game platforms, pioneering new genres, nurturing our own IP, and building Netmarble's unique IP ecosystem."

He further said, "For another evolution and leap forward of Netmarble, we have put significant effort into securing and researching next-generation technologies such as blockchain and metaverse, and starting this year, we will sequentially introduce various new titles based on blockchain technology."

Netmarble also revealed its vision to enhance shareholder value. In 2018 and 2019, it practiced shareholder-friendly policies through large-scale share repurchases, and following last year's dividend of 62.8 billion KRW, it plans to pay a cash dividend of 43.3 billion KRW this year as well (expected dividend per share: 528 KRW).

Meanwhile, at the shareholders' meeting, all six agenda items were approved, including approval of the 11th financial statements, appointment of outside directors, appointment of audit committee members, approval of director remuneration limits, and approval of executive retirement pay regulations.