Line Games Recommends Voluntary Resignation for 10% of Employees

Line Games has notified some employees of recommended resignation. This is interpreted as an effort to improve management efficiency while pursuing an initial public offering (IPO).

Line Games is currently conducting a recommended resignation process for about 20 to 30 employees, which accounts for approximately 10% of the total workforce of around 200 employees.

The recommended resignation targets span all job categories, from developers to business and management support personnel.

Last month, Line Games appointed Park Seong-min, a former judge, as the new CEO and head of the Risk Management Office. This move came just one month after the new CEO took office. Former CEO Kim Min-gyu has moved to the position of Chief Product Officer (CPO), taking charge of development projects to strengthen in-house development capabilities.

Line Games has long operated at a loss. In 2021, it recorded sales of 39.8 billion KRW and an operating loss of 43.1 billion KRW, continuing its deficit.

At the end of last year, Line Games selected Samsung Securities as the lead underwriter for its IPO and is proceeding with the listing process on the KOSDAQ market. This effort to improve management efficiency aims to successfully lead the IPO.

A Line Games representative said, "We are streamlining the organization to focus on in-house development capabilities as part of management efficiency."

Meanwhile, Line Games provides PC and mobile games such as 'Daehanghaeshidae Origin' and 'Undecember' domestically and internationally. This year, it plans to release the console title 'Changsegi-jeon: Hoesaeg-ui Janyeong' and the new PC game 'Quantum Knights.' The largest shareholder is Line Corporation, an affiliate of Naver.