Mgame Achieves Record-Breaking Sales for Two Consecutive Years

Sales of 81.6 Billion KRW, Operating Profit of 21.3 Billion KRW, Net Profit of 21.9 Billion KRW
Increase in Overseas Sales of 'Yeolhyeolgangho Online' and 'Night Online'

Mgame announced on the 8th that it recorded sales of 81.6 billion KRW, operating profit of 21.3 billion KRW, and net profit of 21.9 billion KRW on a consolidated basis last year.

This represents a 10.8% increase compared to 2022, which had recorded the highest sales in history. Operating profit and net profit decreased by 29.3% and 3.0%, respectively, compared to the previous year due to increased marketing expenses for new releases and higher commissions paid to publishing partners.

In the fourth quarter of last year, sales reached 25.7 billion KRW, operating profit 9.2 billion KRW, and net profit 7.7 billion KRW. These figures increased by 47.4%, 116.4%, and 140.9%, respectively, compared to the previous quarter.

The achievement of the highest sales record for two consecutive years since 2022 was thanks to the success of the MMORPG (Massively Multiplayer Online Role-Playing Game) ‘Knight Online’ and China’s ‘Yeolhyeol Gangho Online’. In North America and Europe, ‘Knight Online’ continued to benefit from the addition of new servers in November 2022. By May of last year, the cumulative local sales exceeded the entire sales of the previous year, showing explosive growth.

China’s ‘Yeolhyeol Gangho Online’ signed a license agreement in July last year with major Chinese game company Kingnet to utilize the resources of ‘Yeolhyeol Gangho Online’, once again proving the value and competitiveness of the IP (intellectual property) within China.

The mobile MMORPG ‘Jeonmin Gangho’, developed by Kingnet based on the graphics of ‘Yeolhyeol Gangho Online’, was released in China in August last year, reaching the number one spot in the App Store popularity rankings. Mgame is responsible for publishing services in the second half of the year.

This summer, Mgame will release the MMORPG ‘GuihonM’, which transfers the worldview and characters of the side-scrolling MMORPG ‘Guihon’ to mobile, in the domestic market. Following this, a global release is planned, starting with Asian regions where the original ‘Guihon’ is popular.

Within the first quarter of this year, global service for the idle mobile RPG ‘Queens Knights’, which was released domestically in August last year, will be launched, and more than one new publishing game will be discovered and released within the year.

For the first time since its founding, Mgame will conduct a cash dividend. The dividend is 150 KRW per share, totaling approximately 2.9 billion KRW. Payment will be made after approval at the March shareholders’ meeting.

Mgame CEO Kwon Yi-hyung said, "This year, we will maintain the solid performance of ‘Yeolhyeol Gangho Online’ and ‘Knight Online’, which accounted for 72% of last year’s sales driven by overseas revenue," adding, "We will also release highly anticipated mobile titles based on Mgame’s popular IPs ‘Yeolhyeol Gangho Online’ and ‘Guihon’." He continued, "We will strive to return value to shareholders with the goal of sustained growth this year and will explore new business ventures to expand our operations."