NC Launches Joint Venture with Vietnam's VNG to Accelerate Southeast Asia Market Expansion

Establishment of Joint Venture NCV GAMES
Promoting Collaboration in IT and Content Business Including Game Publishing

NCSoft announced on the 7th that it has established a joint venture (JV) called 'NCV GAMES' with Vietnam's comprehensive IT company VNG to pioneer the Southeast Asian market.

The two companies held a signing ceremony on the 6th at the VNG campus located in Ho Chi Minh City, Vietnam, to launch the joint venture ‘NCV GAMES’. Key executives from both companies attended the ceremony, including NCSoft CEO Kim Taek-jin and VNG CEO Le Hong Minh.

Founded in 2004, VNG is a comprehensive internet company that develops and operates Vietnam’s national mobile messenger app ‘Zalo’. As Vietnam’s first unicorn company (valued at over 1 trillion KRW), it continues to grow steadily in both platform and content business sectors through active business diversification. Its main business areas include ▲online games ▲Zalo & AI ▲electronic payments ▲digital business.

VNGGames, the joint venture partner, is Vietnam’s number one gaming company, servicing 130 games including globally popular titles throughout Southeast Asia. Established in 2004 as a gaming subsidiary of VNG, it has built expertise in publishing and operational capabilities centered on MMORPGs (Massively Multiplayer Online Role-Playing Games). It currently operates 11 game studios in 10 major cities across Asia.

The newly established NCV GAMES will be responsible for the service and operation of NCSoft IP (intellectual property) in the Southeast Asian region. Starting with the launch of Lineage 2M in the second half of this year, NCSoft plans to introduce its games to six major Southeast Asian countries: Vietnam, Thailand, Malaysia, Indonesia, Singapore, and the Philippines. In the mid to long term, it plans to expand new services by combining VNG’s capabilities and expertise secured in the Southeast Asian market.

NCSoft’s partnership with VNG is aimed at a full-scale entry into the Southeast Asian market. Southeast Asia is recognized as one of the world’s most promising markets. According to global market research firm Mordor Intelligence, the total game market size in Southeast Asia is expected to reach $14.8 billion (approximately 20 trillion KRW) this year. The number of mobile game users is estimated at 250 million. The market is rapidly growing due to the expansion of wireless network infrastructure such as 5G adoption and the widespread distribution of smartphones. The six key countries are Thailand, Vietnam, Malaysia, Indonesia, Singapore, and the Philippines.

CEO Kim said, "VNG is the optimal partner capable of providing new experiences connected to NCSoft games, as it has a deep understanding of the markets and local users in six Southeast Asian countries and possesses successful game service capabilities." He added, "The joint venture will serve as a foundation to introduce new and innovative experiences in the Southeast Asian market."