In Response to Stock Price Decline Criticism... Krafton CEO Kim Chang-han "Prepared to Retire if Incompetence Continues"

Changhan Kim, CEO of Krafton, was reappointed as an inside director at the shareholders' meeting. In response to shareholders' criticism over the stock price decline, he expressed his commitment to responsible management, stating, "If my incompetence continues, I am prepared to retire before the end of my term."

On the 28th, Krafton held its 16th regular shareholders' meeting in the main conference room on the basement first floor of the Korea Science and Technology Center in Gangnam-gu, Seoul. The agenda included the appointment of inside directors Byung-gyu Jang and Changhan Kim. The approval rates for reappointment were 97.07% for Chairman Jang and 98.5% for CEO Kim. Following their reappointments, Chairman Jang and CEO Kim will lead the company as inside directors for approximately three years.

CEO Kim said, "I deeply acknowledge my responsibility as the head of a listed company for not meeting the market's expectations last year," adding, "I will listen to the voices of shareholders and focus on our core business of game development through financial and organizational restructuring."

During the shareholders' meeting, investors voiced strong criticism toward CEO Kim and the management regarding measures to address the stock price decline.

CEO Kim acknowledged, "The stock price has fallen significantly, and it is true that the performance of the games we released last year fell short of expectations," but emphasized, "I will do my best to condense the accumulated capabilities of the company and myself to shine. If my incompetence continues, I am prepared to retire before the end of my term."

He further described the company's current status, saying, "I believe we are in the process of generating profits based on strong live services while discovering new IP (intellectual property). I expect to present a larger lineup next year," and added, "I understand your frustration, but I ask for a little more patience."

There was also a question regarding measures following the suspension of service of 'Battlegrounds Mobile India,' which had been very popular in India but was halted last year due to government actions.

Woo-yeol Lim, head of Krafton Publishing Group, said, "We are increasing personnel capable of handling government relations locally and are in discussions with the Indian government," adding, "We expect to bring you good news soon."