Wemade Confirms Receipt of 257.9 Billion KRW Compensation for Mir2 Rights Infringement

Wemade announced on the 17th that it confirmed a large amount of damages in the lawsuit filed against China's Shengqu Games (formerly Shanda Games) at the Singapore ICC Arbitration Court for the termination and invalidation of the SLA.

This ruling is a follow-up procedure to the June 2020 decision in which Wemade won a case at the Singapore International Chamber of Commerce against Actoz Soft, China's Shengqu Games, and its subsidiary Lansha regarding the termination and invalidation of the 'Legend of Mir 2' SLA and confirmation of liability for damages. It is the confirmation stage for the amount of damages.

The arbitration tribunal ordered Shengqu Games and others to pay Wemade 257.9 billion KRW for infringing Wemade's 'Legend of Mir 2' license rights. This includes damages of 1 billion RMB (approximately 196.7 billion KRW) and interest of 5.33%, amounting to 320 million RMB (approximately 61.2 billion KRW). Actoz Soft, which conspired with Shengqu Games and others in the illegal acts, must jointly compensate a total of 111 billion KRW, including 450 million RMB (approximately 85.7 billion KRW) and interest of 5.33%, 130 million RMB (approximately 25.3 billion KRW).

Shengqu Games signed the 'Legend of Mir 2' SLA with Wemade in 2001 but continued illegal activities without fulfilling the contracted terms. They caused damage to the 'Legend of Mir 2' intellectual property (IP) by arbitrarily entering into sublicense agreements without the permission of the original copyright holder, Wemade.

In May 2017, Wemade filed an arbitration claim with the Singapore International Chamber of Commerce against Actoz Soft, China's Shengqu Games, and its subsidiary Lansha, including a lawsuit for termination and invalidation of the 'Legend of Mir 2' SLA and a claim for damages. In June 2020, Wemade won the case, confirming the termination and invalidity of the SLA and that the original copyright holder rights belong to Wemade.