Jang Hyun-guk, Vice Chairman of Wemade, has been strategically invested in the domestic game company Action Square and appointed as its Chief Executive Officer (CEO).
According to industry sources on the 12th, Action Square has appointed Jang Hyun-guk, the current Vice Chairman of Wemade, as co-CEO starting January 1 next year.
Action Square expects the appointed CEO Jang to pioneer new areas such as blockchain new business and game developer investments, thereby growing the company and increasing shareholder value.
CEO appointee Jang took office as CEO of Wemade in 2014 and has led the company for 10 years. In 2018, he launched the proprietary blockchain mainnet 'Wemix' and invested in the Web3 game ecosystem.
He also made strategic equity investments in promising domestic developers such as Lionheart Studio, Shift Up, and Mad Engine. However, controversies arose over the disclosure of Wemix circulation volume, and earlier this year, he handed over the CEO position to Park Kwan-ho, the founder of the Wemade Group, and stepped down to Vice Chairman.
Additionally, Action Square announced that on the same day, it allocated 5,537,099 new common shares to CEO appointee Jang through a third-party allotment paid-in capital increase at 903 KRW per share.
Meanwhile, there are rumors that CEO appointee Jang will soon relinquish his position as Vice Chairman of Wemade.
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